The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1914-12-09
OIL and GAS NEWS

it is expected that the Standard OF
company will come into control of the
oil fields in Peru, thus defeating
Richard Lloyd George, son OF the
British statesman, in a financial con
test for the rich territory.
Today's meeting in this obscure
town in Canada thus takes on a
world Significance. Those who are
gathered for the meeting are stock
holders of the Imperial Oil company
Ltd, sf Canada, which is controlled
I by the Standard Oil company of New
/ Jersey throutl the ownership of so
per cent of it's stock
/ The stockholders were Informed of
( the purchase OF control of three oil
companies in Peru and the proposed
, merger of them under holding com
pany, with a fourth company which
the Standard owns.
1t was only a year ago that the
Standard Oil company of New York
entered into partnership with the
Republic OI China to develop the
oil fields of the Celestial Kingdom.
The new move, in acquiring South
American fields, indicates an effort to
control the principal oil producing
lands of the world
Today's meeting will undoubtedly
ratify the purchase Of the control
of the London and Pacific Petroleum
company, Ltd, the West Coast Oil
Fuel company, and the Lagunitos
company, and to turn them over to
the International Petroleum company
Ltd 1t is understood that the i'm
perial will sell its stock control of
the Lagunitos company to the In
ternational, receiving for each of its
Sj,OO7 preferred shares OF S.. two
common shares of s. each of the
new concern. For each five shares of
its 93,50S common shares of Laguni-
tos it will get one share of Inter
Hf''''''''i 'biIlAlOli olOihs lt lNO
other concerns controlled by the
Imperial will also be turned over, It
is believed on terms yet to be had.
Last July preparations were prac-
tically completed to form a holding
company for the Peruvian properties.
to be called the South American Oil |
Co.. Ltd, with a capital of ST., 900 000. |
Then came the war. The project |
was abandoned until a few weeks
ago when ii was decided to go ahead |
under new name, and capitalize for
$l6,OO0,OO0.
The Standard and its controlled
company, the Imperial. gained their
grasp on the oil lands of Peru. when
the interests led by Lord Cowdray
and other English capitalists failed to
get a foothold in the country. In
1910 the president of Peru forbade
the distribution of petroleum claims
until the government saw fit to open
lp the deposits. The attempt of ,
Richard Lloyd George. son of the
English statesman, to capture the
concessions We're unsuccessful. al
hough Lloyd George went personally
o South America to aid in the pro- {
ect. That was only year ago. and I
was at that time the announced :
Intention of Peru to conserve its re- =
sources Meanwhile. the Standard
las been gaining control of several f,
vi companies in Peru, the Lobitos f,
Ill fields and the Negritos Oil com =,
any
The lagunitos Oil company which
cures most prominently in today's =
Meeting, has four square miles on the
oast eleven miles from the harbor
( Talara. u
The directors of the new corpora y,
on, according TO the slate furnished
ne stockholders, will probably be "
ir A. Williamson. w. c. Teacle. ~
'rmerly vice president of the Stand ="
rd Oil company of New Jersey. :.
!. keswick NJ p, chairman of the 81
ondon a Pacific company. II. Riede- u
ann of the Dutch-American Oil Co, II
hich operates the Standard oil fleet, e'
nd Attorney Hanna of the Imperial Ia
Dmpany al