The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1913-09-23

cal. PETROLEUM |
DUTCH DEAL OFF,
But Standard. OILS Rival
Makes Contract With
General Petroleum


The SheIl-RoyaI Dutch deal for the
purchase of the extensive California
Petroleum company's properties IS
off. That is the news that came
from New York over j. c. Wilson &
Co.'s private wire this morning. The
news comes from California Petro-
leum interests in New York
Negotiations for the absorption OF
the latter by Standard Oils great
rival were announced last week as
completed, but a hitch is reported to
have been occasioned by the proper
ton of stock and cash payments to
holders Of California Petroleum stock.
The California corporation is con-
trolled by British capital and has a
daily production of $4,000 barrels.
The purchase price. as announced.
was to have been paid in cash and
S11, 600, 900 in stock.
1t now develops that though the
Shell Royal Dutch interests have APP
parently been worsted by interests
friendly to Standard Oil for the ac-
QUESTION or control of the immensely
valuable General Petroleum and
Union Oil properties in California. the
Anglo-Du syndicate has not come
off entirely empty handed. Failing
in its original purpose, Standard OILS
international rival has completed ne
gotiations to take from the General
Petroleum company $500 900 barrels
of fuel residium at a price unofficlally
stated to be SO cents per barrel This
involves transaction of 81 100000
and is equally favorable for General
Petroleum, since the product called
for is more or less a glut on the
California market. The Shell-Royal
Dutch will begin shipment of the
General Petroleum residium within
three weeks.
In the meantime Z. ]. de Saba Jr..
president of General Petroleum, is
still in New York in conference with
ri n q T6
OIL, reputed to he in negotiation for
purchase or control of General Petro-
leum, and through the latter's option
on Union Oil Of control of the latter
corporation. The local offices of Gen
eral Petroleum look for definite news
from Mr. de Saba this week.
X
1t is announced that the Pacific
reached a point where income from
present generating plants and distrib
uting systems is ample, not only to
care for the outstanding securities
necessary, to provide for the interest
charges on the 100000 first and re-
funding bonds and $2,500-0e0 6. per
cent notes issued to provide funds for
the extensive hydro-electric develop
ment being made at Big Creek 240
miles from Los Angeles.
Ever since Frank ]. Warne testi-
tration that 50 railroads in the United
States are controlled by 1 8 men there
has been more or less conjecture as to
the identity of the so called railroad
trust" members. Here is the list as
given by the Wall Street Journal:
George T. Baker, William 9 Brown,
J. p Morgan, William Rockefeller.
William II. Newman, Samuel Res.
James Stillman. w. K. Vanderbilt Jr..
Oscar Murray. Charles S. Mellen. L. c.
Ledyard, William Skinner, L. +. Loree,
John P. Green, n. B. Ream, Joseph
Wood. Chauncey Depew, w X. VAN
derbilt.
A branch line of railroad 80 miles
| long, from Searles to Lake Trona.
Gals is. building as a feeder to the
Southern Pacific. The main commo-
dfties comprising the expected traff1c
are potash, boraX and bicarbonate Of
potash. W. C. CatelI of Searles, Cal,
is chief engineer
The Union Trust company of San
Francisco invites offers for the sale
to it of Oakland Transit company first
consolidated mortgage bonds for re-
demption, in amount of $4,000. Of
fers must be received by the Union
Trust company prior to IL a. m, Oe-
tober 81.