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Dates: during 1920-1929
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Finance Minister Luiz Montes de Oca's budget for the next Mexican year was recently published. He plans to pay the International Bankers an installment of 26,000,000 pesos ($13,000,000) on what is owed them, whereas in 1929 they received $17,000,000, and the year before $16,250,000. This drastic reduction is accounted for by the Mexican Government's enormous expenditures in putting down the Escobar Revolution and the consequent depletion of Treasury funds. As a Mexican satiric weekly said: "The bankers are silently howling for more money...

Author: /time Magazine | Title: MEXICO: What's What | 12/30/1929 | See Source »

Inside the Basilica, Pope Pius XI, served by only one acolyte, celebrated mass at the spot where, 50 years before, he had been, ordained to the priesthood. After mass he went next door, visited the Lateran Palace. Then back to the Vatican he went, as quietly as he had come. Next day the Pope, robed in the full majesty of his Pontificate, in cream-colored silk cloak, gold-&-silver-embroidered, crowned with the Triregnum (triple crown), closed his golden jubilee with a solemn mass in St. Peter's Basilica, where 70.000 Catholics cheered him. Then he beatified the relics...

Author: /time Magazine | Title: Religion: Prisoner Emerges | 12/30/1929 | See Source »

...himself has said, "only an investor." Born in Pugwash, Nova Scotia, he graduated from McMasters University, Toronto, and, in 1906 arrived in Cleveland with the Baptist ministry as his chosen career. Before ordination, however, he became interested in public utilities, left the ministry in favor of Cleveland street railways. Next he went to Iowa, bought up options on public utilities. One of his Iowa deals was financed by Otis & Co., Cleveland bond house, marked the beginning of Mr. Eaton's connection with Otis & Co. of which he has been a partner since 1915. In 1912 he organized Continental...

Author: /time Magazine | Title: Business & Finance: Catalyst in Steel | 12/30/1929 | See Source »

Last week artistic Manhattan primped and prinked for a distinguished guest. Ivan Mestrovic was expected to appear in person at an exhibition of his recent sculptures. Then he cabled from Paris where he now has a studio; he could not come; next autumn he would bring sketches for two new doors for St. Patrick's Cathedral in Manhattan...

Author: /time Magazine | Title: Art: Absent Ivan | 12/30/1929 | See Source »

...Michelson, measurer of light, first U. S. Nobel Prizeman in science (physics, 1907), whose optical studies gave Albert Einstein a main clue to the Relativity Theory.* Age 77. He marked the week by resigning as head of the physics department at the University of Chicago because of ill health. Next spring at Pasadena, Calif., Professor Michelson, now convalescing from an operation, will peer through a very straight corrugated iron pipe, from which air will have been evacuated, to determine more accurately than heretofore the speed of light...

Author: /time Magazine | Title: Milestones: Dec. 30, 1929 | 12/30/1929 | See Source »

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