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Strategies & Market Trends : Argentine stocks

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To: EPS who wrote (118)	9/30/1998 1:47:00 AM
From: Tom	Read Replies (1) of 331

I recall attempting to buy Cartones through one of the major brokerages here...1993, I think. I couldn't get it. Nearer the truth would have been that they weren't dealing in Chilean stocks. Due to the transaction restrictions. I'd have to dig through some old papers to say exactly what the restrictions were, but suffices to say there existed a repatriation schedule. Chile seemed to carry-on well enough. It was one day back then that I recall a report of Chile's Finance Minister being followed up the steps outside one of the State buildings by a group of angry union activists. They were complaining of their wages and demanding an increase. Near the top of the steps the Finance Minister turned and confronted the men, saying what a sin it would be were they to be granted that which so many others were equally in need of. Impressing upon them the severity of the current economic situation, he said, "Were it at all possible I would do as you ask. But I will not be the one to jeopardize the saviour of your souls." The men, apparently satisfied, turned and walked away.

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