Business: Little Partner Out

Some 20 years ago a high-calibre Colombian general named Virgilio Barco journeyed to Manhattan to sell an oil concession he held on 1,200,000 acres of his native jungle, dropped into the Standard Oil Building. Legend is that he got no farther than the gate: suspicious of his torrent of Spanish, the bomb-conscious guards summarily ejected him through the door. Thereafter the proud Colombian refused to have any dealing with Standard Oil of New Jersey. His concession was snapped up by Promoter Carl Kendriok MacFadden for his Carib Syndicate, Ltd., which kept a minority...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!