The Archive · 1940

Oil Interests

Companies Dispute Legality Of Expropriation

Mexico City, Jan. 19.

Senor Ponciano Fernandez, Federal Judge, has appointed Senor Paredes, an engineer, to act as valuer on behalf of the foreign oil companies whose properties have been expropriated.

The step followed the refusal of all companies to recognize the legality of what they describe as "confiscation" of their properties. The companies could not therefore, name any person to represent them in the discussions as to what lhe Mexican Government may finally pay for their interests, It is reported that the Mexican oil industry has been effected by the war down to 50 per cent., owing to-the loss of German and other world markets.—Reuter.

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

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