Bisbee daily review., 1914-05-24
OIL DEVELOPMENT
 IN CHINAG JAPAN
 TAXES EXCEPTIONS

Worldwide attention has been at- tracted by recent announcement that Standard Oil Co of New York had en- tered into am agreement with the Chi- nese government whereby a partner ship was formed for Che working of th Chinese oil fields. says the Boston News Bureau
 The great nations of the world, oth- CT than the United States. which have been concerned over the question of naval fuel supply. hardly look with favor on am agreement which gives promise of adding to the already enor- mouse production of petroleum con- trolled by American companies Nor have the foreign companies been pleased t0 see one of the 34 mines Of the former Standard oil combination spreading out in such extensive fash ion. In some foreign banking quarters it had been thought that with the dis solution of the Standard oil trust com Tctition with the separated companies would be am easier problem
 An Instance of American Enterprise
 Aside from the oil question. bankers throughout the world and especially in the United States. have been furnished an example of enterprise which might well lead them Co consider seriously the advantage of Chinese investments. American firms in other lines of bus mess have also given considerable at- ;ention to the activity of the Standard oil Co. in the Chinese republic and tbe tremendous profits that have ac crued therefrom.
 The statement of w. D. Bemis vice. president of the Standard Oil Co.,, of New York. and the man who engin- eered the Chinese deal. that he con siders China the greatest field for com uercial development In the world seems to have some foundation Whel if is cousideerd that China has popu Iauon of 400.O00000 people Over one quarter of the population has not yet had an opportunity ito use oil or it' many byproducts.
 From the view of it's probable effect on the worlds petroleum situation this move by Standard Oil gives prom ise of becoming one of the bigges factors in the oil world. Success ir this undertaking would mean a won derlul expansion of Standard oil n the far East. with resultant heay, increases in earnings for the Amer ican company
 China's mineral resources are at solutely undeyeloped Geologists wh have examined the Chinese fields ar enthusiastic over the probabilities O great oil production in that cou try. Ou experts in the United State believe that the Chinese mdertai ug will prove to be one of the greai est strokes ever consummated. On of the most encouraging features that what little oil has been produce in China has a parahin base, simila 10 chat of the Pennsylvania fields this country. from which a large pc centage of kerosene and gasoline ca be extracted The discovery of light grade oil iu China in comme cial quantities would prove a grei boon to the Standard oil Co.
 Standard Ready to Spend Millions
 OnCials of the New York Co. hay announced that the company is read to spend millions of dollars in an e fort to develop the Chinese field This would seem to indicate that tl company had more assurance of the probable wealth than has been mad public An oil authority who hi been in a position to follow the ope ations Of the Standard oil compani' very closely over a period of veal makes the statement however th' decision on the part of the cor rany to spend several millions Of dc lars in China is not sufficient grouI for such a conclusion "l have O served" he states "that Standard C interests are always ready GO take business risk. and if the New Vol people were convinced that there WI an even chance of their meeting WI success in the Chinese undertaki they would not hesitate 10 make su large expeuditure.' Incidentally, might be stated that this authOn' who is in constant touch with opel tions in the oil field throughout q world. believes that China win be o
 Of the greatest oilproducing col tries within comparativly few yea
 Interests connected with the Star ard On Co. of New York say th while they are hoping that China