Word: pati
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Dates: during 1950-1959
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...food that they must now import from abroad. It is the foundation of their teetering economy, source of 80% of their foreign exchange and almost half of their government revenue. And for years Bolivian tin-and Bolivia itself-has been dominated by the three expropriated companies: Patiәo, Hochschild, Aramayo...
Starting at the turn of the century, when the world developed a ravenous tin appetite (for food containers, automobile bearings, welding), Simon I. Patiño. a cholo (half-Indian) from Cochabamba, parlayed an abandoned Bolivian tin mine into a fortune estimated at a cool $1 billion. His annual income used to surpass the government's. He formed a world cartel, bought heavily into Malayan tin, and lived abroad like an emperor, marrying his son Antenor to a niece of Spain's Alfonso XIII, his daughters to a French count and a Spanish grandee of such exalted lineage...
Time to Explain. The tin decree, climaxing long years of bloody struggle, was the most important act of nationalization in Latin America since Mexico expropriated its foreign oil companies in 1938. The three nationalized companies-Patińo,* Hochschild, Aramayo-produce 72% of the country's tin. Though Bolivia now mines only 15% of the world's tin, it still accounts for virtually all that is produced in the Western Hemisphere. And tin is still backward Bolivia's one cash crop, providing 80% of the country's foreign exchange. Last week's decree...
...Whose president, Anterior Patińo, had troubles of a different sort in the U.S. last week (see PEOPLE...
...government in Bolivia took over his mines under a nationalization decree (see HEMISPHERE), Bolivian Tin King Antenor Patińo was in Manhattan in the process of being parted from some of his fortune. A few hours before he planned to fly to Paris, he was haled into court by his Spanish-born wife and charged with being $400,000 behind in support payments. She wanted a settlement before he left the country. "I'm going to ... Paris this afternoon," pleaded Patińo. "No, you're not," snapped the judge. "You're going to city prison...