Word: peruvian
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Specifically Senator Johnson excoriated the scramble of U. S. bond houses for South American issues, the "bribing" of a Peruvian President's son to make a loan, the restoration of the Barco oil concession to the Mellon interests by Colombia while the State Department sped up a National City Bank loan (TIME, Jan. 25). He showed statistically how U. S. private loans to 16 European nations with a par value of $1,667,562,000 had depreciated 43% to $925,559,000, how $1,600,000,000 invested in South American securities had shrunk to a cash value...
...Government was patent in the appearance at the inaugural of Ambassador Fred Morris Dearing, who brought the best wishes of Herbert Hoover. What U. S. bankers would have liked to hear in President Sanchez Cerro's address, however was constructive mention of $88,000,000 worth of defaulted Peruvian bonds now gathering dust in many a U. S. vault. A movement by the Investment Bankers Association to bring this matter strongly to Peruvian attention was post-poned last week, pending the shaking down of the new Government...
Meanwhile Peru has had a triple revolution. Picturesque, hard-swearing Lieut. Col. Luis Sanchez Cerro, who led the first armed revolt and was ousted by the second, became a presidential candidate after the third revolt. Peruvian voters chose by ballot between the Colonel and three other candidates, all civilians. While the vote was being counted gunmen in a speeding car riddled the residence of Candidate Sanchez Cerro with random bullets, killed nobody. Startled, but by no means unnerved, Colonel Sanchez Cerro received with a tight grin of satisfaction last week the news that he had been elected President of Peru...
Boston-born, William Henry Pickering was graduated from M. I. T. in 1879. He taught there and at Harvard, where in 1890 he was made assistant professor of astronomy at Harvard. In 1891 he located the Harvard observatory at Arequipa, Peru, spent the following two years measuring the big Peruvian mountains. He built the Flagstaff station and the one at which he now works in Jamaica. Only one astral unit is definitely his discovery (Phoebe, the ninth satellite of Saturn), but he has a claim on the as yet unrecognized tenth satellite Themis...
...quiet suite of rooms on the ground floor of the Reserve Bank of Peru at Lima, Dr. Edwin Walter Kemmerer, Princeton's world-famed fiscal expert, has worked calmly through the last three major Peruvian revolutions, all successful (TIME, March 9, 16). Last week slight, grey-haired, bespectacled Dr. Kemmerer emerged with a finished report on the Peruvian sol, told Peru's latest Government that they had better stabilize it on a gold basis at its present value 28?. Within a few hours the Government issued the necessary decree...