Mexico City, Apr. 7.
A decree issued by Gen. Lazaro Cardenas, President of Mexico, ordered that 20 per cent. of the proceeds of exports sales of petroleum be reserved as payment for the expropriated properties of foreign oil companies. The Finance Minister, Dr. Suarez, will also fix the percentage of income from petroleum sold within Mexico to be similarly reserved.
Mr. F. W. Rickett, the American oil magnate, is at present conferring ith Dr. Suarez on the proposed sale of most of the Mexican output.
Foreign companies have filed another i ction questioning the constitutional validity of the expropriation. They argue that President Cardenas might find a solution dificult should they technically win if he accepted a cash deposit from Mi Rickett on a deal which had an illegal basis—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.