The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1910-12-28

ducers have made plans to fight the
Standard Oil Co., In its own field,
right here In the markets OF the u. s.
A. TINS startling development In the
commercial world is told in report
from Consul-General Dubois, at Singa-
pore, in which he says:
The Royal Dutch Shell group has
entered into competition with the
Standard Oil Co.. is placing oil in
France, and, 1t Is reported here. has
also determined to sell benzine in the
United States. and that four big tank
steamers started some time ago for
Boston.
Heretofore the Dutch combination
has disposed OF its products in the
vicinity of production, and conse-
quently placed their oil on these mar
kets at very cheap rate. II VIII be
another thing to transport oil $4,000
miles and face a great competitor In
its home market, but the Dutch group
seem TO believe that they have suffl-
GENTLY developed to succeed In the
wider field. and this makes the situa-
ton interesting.
the price under competition going
slowly down from day to day, SO that
Ia cents would buy as much oil at the
end of October as 20 cents would in
August. The result OF the bitter fight
between the great oil interests in the
Far East Is reduction OF prices to
such an extent that the Cinnamon are
laying IT good stores at a Very low
price in hope of future profits, while
the native customers enjoy the luxury
OF plentiful light 1t has been estimat-
ed that IL will cost the rival interests
at least $25O,0OO If the contest is con
tinued much longer"
Would Pave Way to Senate.
To pave his way TO a seat in the
United States senate via clerkship
in the Navy Department is the unique
plan revealed in a letter received by
Secretary Meyer.
Arthur b. Prague, of Spokane,
Wash, is the correspondent whose op-
timistic view Of the opportunities fur
nished by the government service sur
passes anything ever before brought
TO the attention OF the government Off
Gals
Pragues letter is written on a sheet
announcing his candidacy for the state
legislature Of Washington, as the
"Newsboy candidate" Accompanying
the announcement Is his picture. show
ms tall, bony young man, with a
great abundance OF curly hair and n
most expansive smile, holding bun
die OF papers under his arm. a long
list OF names OF persons said to be
prominent citizens, who are trustees
OF Prague's candidacy, is appended.
The Spokane young man declares
that he cares not what are the wages
or the hours of the job which he wish
es Secretary Meyer to give him; all
he stipulates is that the position shall
serve 10 blaze the way toward Capitol
Hill and put him within grasp OF a
senatorial toga.
1t was stated at Secretary Meyers
Office that a reply would he sent Mr..
Prague, expressing the regret OF the
cabinet member that he had no posi-
ton which might be considered pre-
paratory TO senatorial job
American Banks Needed.
The crying need of American inter
ests in South America is the establish
ment of American banks. according to
Prof. Paul 5. Reinsch, of the Univer-
sity OF Wisconsin. who recently re-
turned from the Pan-American Confer
ence AT Buenos Aires. Argentine
We have the business" said Prof.
Reinsch, and now we need BANKS TO
accommodate American firms doing
business in South America. The bank
ing methods prevailing in South Am
erican cities are extremely slow and
antiquated. They would quickly be
forced aside should an American bank
enter into competition with them
AT present, the only method OF eX-
change is through London or other
European financial centers, a most
roundabout and inconyenient system
for American shippers. The banking
business i'm South America is practi-
cally entirely in the hands Of foreign
ers In BuenOs Aires, for example.
outside OF the National Bank OF Ar
gentne, all the other banks are own
ed by Europeans. There are several
British banks, an Italian bank. Ger
man banks. French banks, and SO on. -
Prof.. Reinsch's views are shared by
Secretary Of the Treasury MacVeagh.
who in his annual report submitted
TO congress, urges legislation winch
will permit national banks In the
United States TO establish branches in
foreign lands. This attitude is in
dorsed by officials OF the State De.
partment.