The Archive · 1938

Oil Company Officials Held by Mexicans

Expropriation Indemnity of Mexico City, Mar. 21.

A parade of 100,000 labour unionists marched through the streets of the capital to-day supporting the President, Gen, Lazaro. Cardenas, in his action in expropeiating foreign all companies 'The President denied New York reports that he intends to confiscate mining and other Industries chiefly the hands of Americans, 'The Mexican flag was Taised over the offices and works of all the for-ign' companies to-day while the Finance Minister invited representatives of the petroleum firms to. cuss terms of an Indemnieation pay ment of U.S.$400,000,009 for all the Hropettios, The Mexican Government offered to complete payment in ten years. 'The authorities denied re-herts that British tankers had. been seized under the' expropriation decree, Company Employees rela Mexican all workers at Tampico today wore holding two American exceulives of the Hussteca Petroleum Company pending payment of their salary claims from Marco 15 through March 19,.aliable reports said here to-day, The local American consul was reported to have intervened while the Embassy here reported the detention of the "Americans. to the State Department in. Washington, The Americans detained by the Mexican workers are Mr, E, Borego, sistant manager of the company Tampico and a graduate of the Colurado School of Mines, and Mr, BW. Yenny, personnel manager of Mie company.

Text read from the printed page and cleaned; old type leaves the occasional error.

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