L. HAND, Circuit Judge.
The Island Oil & Transportation Corporation, not being permitted under the Mexican law to own or operate oil-bearing lands within 50 kilometers of the coast, resorted to the device of organizing a number of Mexican companies, staffed with Mexican officers. It held all the shares of stock in these, except such as were necessary to qualify the directors, and conducted the business directly, either in New York or Tampico, by means of its own...
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