OIL: In a Box

U.S. oilmen went into mourning last week. In the agreement signed between the State Department and Mexico (see p. 15) was the expropriated oil settlement which they had shuddered at, railed at, twice turned down.

But the companies were in a box. When the State Department signed the deal (providing a $9,000,000 "token payment" by Mexico, other compensation to be determined if possible by one U.S. and one Mexican appraiser) it left them no effective out. They could hardly appeal again to the State Department. Said one oilman: "We'd be like a woman raped by a policeman calling the cop."

Chief worry...

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