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Mexican Oil Seizure ProtestedLa Karo Cardenas . Mexican prenidentMexican oil fieldsJoseph tin Daniel*... U. 8. ambassadorWhile President Lazaro Cardenas sought to reassure Mexican business, shaken by his decree expropriating the properties of 17 American and British oil Arms valued at $400,000,000, the U. S. pressed for a modification of Mexico’s move. Secretary of State Cordell Hull expressed the serious U. S. concern over the possibilities that might arise from the seizure in a long telephone conversation with Ambassador Josephus Daniels in Mexico City. Cardenas, defending his seizure of the petroleum industry as an “Imperious necessity”, said business had nothing to fear and invited the companies to file claims for indemnization. The Mexican law under which the expropriation was carried out provides for payment of properties, but the United States contends this should have been done under receivership. Meanwhile, three executives of the American-owned Huasteca Oil company were seized at Tampico as “hostages” by Mexican workers claiming back pay. The American consulate intervened.
Newspaper Details
Somerset Daily American
Somerset, Pennsylvania, US
Thu, Mar 24, 1938
Page 1
Full Page
Clipped by
University O.
TX, USA 14 Nov 2022
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