MEXICAN THREAT

Dominion, Volume 31, Issue 151, 23 March 1938, Page 11

MEXICAN THREAT

British And American Citizens Fleeing OIL EXPROPRIATION Business Crippled By Peso Fluctuations By Telegraph—Press Assn.—Copyright. (Received Marcli 22, 9.10 p.m.) Mexico City, March 22. Fifty-four British subjects and 35 Americans connected with tlie oil business are rushing out from tlie lonely isthmus of Tehuantepec in Southern Mexico owing to threats against their lives. The first plane load of British refugees has arrived, while three other plane loads are on their way. Unlike the American companies which generally took precautionary measures last week, the British left their supervisors and other officials in the fields, because of the expectation of. a settlement of the wage difficulties. Men, women and children from the British Mexican Eagle refineries at Minatitian nearby the oilfield are sailing from I’uergo, Mexico, having abandoned tlieir household goods and personal effects. Some women from, the British fields have arrived at Vera Cruz, where they are undpr the care’of the British Consul. Meanwhile Mexican business is crippled as a result of the fluctuations of the peso. Merchants are trying to restrict sales until they can see the point at which the peso will be devalued. It was reported’that the peso, would be left free for three days to permit it to find a level, after which the Bank of Mexico would probably take steps to support the currency. The dollar is quoted at 450 to five, compared with the former fixed rate of 360. A queue of 500 persons formed in front of the Bank of Mexico before its opening in order to exchange bills for silver. Many others followed suit during the day. A New York message states that oil executives said Mexican union officials seized the homes of foreign employees and threatened violence unless they departed immediately. It is estimated that 2000 American and British citizens are already on their way out of Mexico.