The possibility did seem to be a remote one to everyone”except the owner of the hotel who knew the local situation better than anyone present at the meeting” but fortunately not better than True Magazine. By obtaining the loan he would secure $100,000 in cash for a year. In that time, the way the wind was blowing could be determined. Either Castro would be defeated, and he could pay $15,000 and get the stock of his hotel back, or Castro would take his hotel over ”which he did”and he would keep the $100,000 while I was left holding the hotel. Fortunately, I did not make the loan. Expropriations of foreign properties by local governments are rare, but they have taken place, the most prominent being the Nazi expropriations of all kinds of properties in all conquered European countries and the Mexican expropriation of oil properties.


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