Washington Sycip of Sycip, Gorres and Velayo saw me on the BIR [Bureau of Internal Revenue] and Luis Vera’s efforts to break up the big accounting firms.
Jim Wollahan [sic] [John Wolahan] of Caltex saw me on oil exploration, prices and the one year delinquency of Rubicon, owner of PAL [Philippine Airlines] majority shares, of $2 million on a $7 million loan from FNCB guaranteed by Caltex. He wants the government or a group of private financiers to take over.
Then met the Ilocos Sur leaders on the alleged NPA [New People’s Army] penetration of Ilocos Sur and the Dec. 19th incident of 8 towns being attacked by armed men. More and more it looks like Tony [Antonio] Villanueva stage-managed the attacks not the NPA. He and 33 mayors have resigned. I told them to stay in office. The two factions agreed to fight the NPA together.
Gave dinner for the generals both retired and in active service.
Met Joe Marie Locsin on the Free Press and my request for it to print both sides.