MEXICAN OIL SEIZURE
NEGOTIATIONS IN TRAIN COMPANIES OPPOSE DECREE Received April 1, 6.40 p.m. MEXICO CITY, March 31. Seventeen American and English oil companies have announced that they are taking legal steps to set aside the seizure decree. Mr Ricketts, of the Ethiopian oil deal fame (August 31, 1935), conferred with the Government, which offered large contracts for Govern-ment-produced oil priced well below world prices. The impression prevails that should the scheme prove sufficiently successful to provide funds to pay the expropriated companies, a solution might be found. Otherwise the Courts are likely to nullify or ameliorate the decree in order to take the Government out of the serious predicament precipitated by the seizure.
The expropriated companies have announced that they would place an embargo on oils exported from their properties, although it is believed that this would be difficult in the event of transhipments by a third country.
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Wanganui Chronicle, Volume 80, Issue 78, 2 April 1938, Page 9
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149MEXICAN OIL SEIZURE Wanganui Chronicle, Volume 80, Issue 78, 2 April 1938, Page 9
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