Under a statute recently signed by astute, square-jawed President Emilio Fortes Gil, at least one-half of the required reserve fund maintained by foreign insurance companies in Mexico must be invested in Mexican securities.
Chief of three companies defying it is the Sun Life Assurance Company of Canada, whose Mexico City branch manager is mild William Puryear Massie, ironically nicknamed "Wild Bill." Last week he boldly announced to unsympathetic Mexican reporters that Sun funds have been invested for five years past "in whatever safe securities the company saw fit." Next day wrathful Ramon de...
To continue reading:
or
Log-In
