Mexico, Mr. Josephus Daniels, told the press here to-day that he did not believe the oil companies would have been confiscated if they had accepted decrees issued by the Mexican courts ordering increased wages for Mexican oil workers.
"I understand the companies have fifteen days to file injunctions under the expropriation law," he said. "I understand the companies will exhaust all legal means in an effort to prevent the confiscation. I have not heard of any proposals for international arbitration. What should be done after recourse to Mexican law is a matter for the State Department to decide.
Regarding reports that the Mexican President, Gen. Lazaro Cardenas, had consulted President Roosevelt before issuing his confiscatory decree against the oil companies, Mr. Daniels said that neither President Roosevelt, the Secretary of State, Mr. Cordell Hull, nor himself had any advance infor ation of the Mexican President's plans. He said the most drastic action which had been expected was possible appointment of receivers for the companies now expropriated.
he whole business is very regret-tal e." Mr. Daniels said.
The Bank of Mexico belatedly published its statement for the week ending March 12, revealing that metallic reserves during the week had declined 8,500,000 pesos compared with the preceding week—United Press.
Text read from the printed page and cleaned; old type leaves the occasional error.