The Archive · 1940

Oil Indemnity Offer

President Cardenas Says Valuation Fixed

Mexico City, Sept. 2.

President Lazaro Cardenas told the Mexican Congress today that foreign oil interests which had their property confiscated by Presidential decree must, accept the indemnity offered through the Government.

President Cardenas also said he did nat expect a serious threat of internal revolt as a result of the Pres-identical race held on July 7, when Mexicans visited the polls to cast votes for General Avila Camacho and General Juan Almazan.

Meanwhile, the Almazan Party announced today that a rump congress had met at a secret place and had promised to meet again "on September 3 to proclaim General Almazan as President."

The First District Court today fixed the valuation of all expropriated untaxable oil property in Mexico at US$35,608,209. The principal com-of New Jersey, value in Mexico was placed at US$5,- 112,007 United Press.

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

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