Word: alvarado
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Dates: during 1960-1969
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Matter of Trust. When the Citizens State Bank of Alvarado collapsed in April, the F.D.I.C.'s chore was somewhat more complicated. The federal agency is suing the bank's president, Jack Park, who has been mayor of the town since 1954, for $512,000 that it says he embezzled. But the F.D.I.C. seems alone in taking offense. "I've never heard such nice things about me as people said after the trouble started," says Park. In fact, when the Pioneer and Old Settlers Association held its annual meeting last month, its members elected Park treasurer to guard...
...trips have provided a focus for protest. Many Latin American nations are also unhappy with themselves and in search of new paths to progress. That combination of frustration, militancy and venturesomeness last week made news in five South American countries: - In Peru, the military government of General Juan Velasco Alvarado decreed a sweeping land-reform program that included the expropriating of some U.S. interests. It was one of the most drastic -and potentially effective-such reforms ever proclaimed in Latin America. >In Argentina, terrorists firebombed 13 supermarkets owned by the International Basic Economy Corporation, a company controlled by the Rockefeller...
Actually, the sales had been suspended last February with the seizure of the first U.S. boat. Peru's Dictator General Juan Velasco Alvarado was informed privately that the Pelly amendment to the Foreign Military Sales Act of 1968 left Washington no alternative. For some reason, Velasco had neglected to inform his countrymen, and last week's disclosure from Washington brought a rush of questions in Lima. Velasco held a twelve-hour huddle with his Cabinet and produced a six point communiqué. If the ban on shipments is officially confirmed, it read, then the U.S. military missions currently...
...blinked,"said a U.S. official in a back ground observation that was later contradicted by the State Department. Gen erally, however, the U.S. received the kind of welcome hemispheric hoorah that it seldom hears these days. Peru's President and junta head man, Juan Velasco Alvarado, greeted the news with a joyous statement: "Is this, or is this not, a benefit for the country...
...part, General Juan Velasco Alvarado, the leader of the Peruvian junta, professes that he cannot comprehend why the U.S. is so upset. The seizure was legal under Peruvian law, he explains. Furthermore, according to the junta's charge, IPC still owes some $690 million for oil it "illegally" extracted. To the junta's way of thinking, it is Peru that should be angry. The U.S., says General Velasco, "is a just country. I cannot believe that the amendment will be applied...