Word: oils
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Dates: during 1930-1939
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...neither note did Mr. Hull mention President Cardenas' far larger expropriations of foreign-owned oil properties. These seizures, resulting in grave loss of markets and taxes, have undermined Mexico's national currency to a cracking point (TIME, Aug. 29). The Hull-Welles stratagem of confining their claims to "small" U. S. interests was adopted partly to avoid charges of Imperialism, also partly to give Señior Cardenas a graceful out. But Mexico's President has no easy out. In Mexico's economic crisis he needs U. S: comfort and support. He also needs the powerful...
...took eleven years to complete the 865-mile railway which more than tripled Iran's previously existing lines. Heading north from the Persian Gulf, the railroad crosses the Anglo-Iranian Oil Co.'s pipeline; passes through Ahwaz, where Alexander the Great's fleet landed 2,263 years ago; bridges the swift Karun River; climbs mountains to reach Dizful, famed city of rats. Thence the line passes northeast through Sultanabad, city of rugs, and Qum, holy city of the Shi'ites, to reach Teheran. From the capital the road continues east, northeast, over a 7,200-foot...
Ever since 1929 Frank Hawks had been aviation's best pal and severest critic. Then he was flying for Texaco, and every push he gave aviation meant bigger gas and oil sales. Flying coast-to-coast and point-to-point faster than men had traveled such distances before, he used to crow: "That's the way the airlines could fly this route if they'd take that outside plumbing off their ships." Recent years have seen most of Frank Hawks's speed records fall to Howard Hughes, but they have also seen the "outside plumbing" disappear...
Year ago the Mexican budget was nominally balanced, and the Treasury forecast an "anticipated surplus" for 1938. But when the President confiscated all foreign oil properties (TIME, March 28), Mexico lost her oil receipts, her third biggest single source of revenue, one out of every 15 pesos of Treasury income. The State Railways and numerous State-operated industries, notably sugar refining, are also doing badly. Shoes are a pet industry with President Cárdenas, who hopes that some day everyone in Mexico will have shoes, and once at a public meeting gave away 300 pairs. Last week the output...
...Oil the Apple? To bulwark himself politically, President Cárdenas recently reorganized his party from top to bottom, changed its name from National Revolutionary Party to Party of the Mexican Revolution, put in, as his Jim Farley, Luis Inocencio Rodriguez, his longtime personal favorite. If Cárdenas does not run again he might choose Luis Rodriguez as his successor. Another politico who might try to grab the job is Mexico's loudmouthed, posturing, Moscow-visiting Vicente Lombardo Toledano. He claims to lead 1,000,000 organized proletarians in his Confederation of Mexican Workers-by far the most...