I believe this is Carola Grotesk (H.Berthold and Bauer), also known as Boutique (Haas Type Foundry), which dates from the early 20th century.
The only somewhat faithful digital version (though seemingly no longer available) was from the less-than-reputable Castcraft Software Inc. under the name Boutique:
http://luc.devroye.org/fonts-27506.html

Paratype created a version called Karolla. PT Karolla Narrow Bold comes awfully close to your sample (save for the C):
http://www.myfonts.com/fonts/paratype/karolla/

Edited:
Opti Boutique is an accurate digitization of the metal font used in your Mexican publication.

Captured from web.archive.org on 17 Mar 2015. view this capture