Foreign News: Haughty Manager Massie

Under a statute recently signed by astute, square-jawed President Emilio Fortes Gil, at least one-half of the required reserve fund maintained by foreign insurance companies in Mexico must be invested in Mexican securities.

Chief of three companies defying it is the Sun Life Assurance Company of Canada, whose Mexico City branch manager is mild William Puryear Massie, ironically nicknamed "Wild Bill." Last week he boldly announced to unsympathetic Mexican reporters that Sun funds have been invested for five years past "in whatever safe securities the company saw fit." Next day wrathful Ramon de Negri, Mexican Minister of Commerce, moved with official majesty and awfulness to eclipse the Sun, frighten Manager Massie. Said he:

"Premiums paid to the Sun Life during the last five years amount in round figures to 8,000,000 pesos, all of which has migrated from Mexico. The government intends to act energetically and see that all insurance companies comply with the law. Mr. Massie of the Sun Company has been misrepresenting facts and misleading public opinion. His haughtiness merits investigation! Mr. Massie's statement has been consigned to the Ministry of the Interior. If in the tenor of his statement Mr. Massie is deemed to have overstepped the bounds of propriety, legal steps will be taken against him."

Soon to Manager Massie from the Ministry of the Interior came an order expelling him from the country. Manager Massie, who has already spent 25 years in Mexico, hired lawyers, obtained an injunction.