MEXICO: Modern Conception of Property

Rough and raucous Governor Vargas Lugo of the State of Hidalgo seized last week from its British owners the Cruz Azul Portland Cement factory, largest in Mexico, appraised for taxation at 1,000,000 pesos ($300,000).

Employes of Cruz Azul recently proposed to buy the plant, offered a down payment of 3% and future payments in correspondingly minute installments. When the owners refused this offer, Governor Lugo saw his chance to invoke for the first time his State's new Public Utility Expropriation Law, promulgated April 25. By plucking a group of Britons whose...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

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