The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-29
FRENCH BRITISH OIL
TO FIGHT STANDARD
Paris Group and Anglo-Per-
4, sian Company Sign an
Agreement.
TANK LINES PROPOSED
New Pact Results From Plan
Decided On by Millerand and
Lloyd George in April.
TANK LINES PROPOSED

LONDON, Oct 2s.--Announcement OF
French group and the Anglo-Persian OIL
Company for development on a large
scale of oil supplies from British sources
isrnade by the London T,mes. The
aset OF tank steamships flying the
French flag and the establishment OF
large storage tanks at the principal ports
Of France.
A French company, with capital OF
10000, 900 francs, is said to be IN
process OF formation for importing to
France crude and refined oils and for
refining and distributing gasolene kero-
sene and fuel oil. The Anglo-Persian
company IS declared to have agreed TO
subscribe for IS per cent OF the COM
pany's capital the other 55 per cent TO
be reserved. The agreement Is corol-
larry to the Anglo-French agreement
reached by Prenliers Millerand and
Lloyd George at San Reno. Italy, last
April. It is said
In It's financial notes the newspaper
says the rapid rise of a purely British
oil organization Is welcomed in the in
terests OF consumers of oil. which in
the past have been almost entirely at
the mercy of two foreign corporations"
The organization Of n French branch
Of the Anglo Persian OIL Company, in
which Il has been said the British Gov
eminent holds q big interest, indicates
that an oil war between American and
British petroleum interests probably will
be begun in Franco soon. Announcement.
that the Standard Oil Company OF New
Jersey had organized an important SUBJ
s,dtary company in France. with Jules
Cambon. formerly French Ambassador
to the United States re its president
was printed IN THE New YonK HERALD
Of October IS
Bourse quotations then on British
owned oil concerns slumped heavily.
Royal Dutch shares falling 400 francs.
Details Of the organization OF the
French subsidiary concern OF the
Standard Oil Company are not ex-
pected 20 be announced until the re-
turn to Paris OF A. c. Bedford. chair
man OF tho board OF directors OF the
Standard OIL Company OF New Jersey,
who IS In italy. II was stated That the
Standards object was 20 organize regu-
lar oil irnportations to France and TO
eSta olisll large supply bases with ca
pacity sufficient to take care OF all
Frances petroleum requirements even
In case or war. The Standard. IL was
ssserted, was "in on the ground floor
IN France. making IL difficult, II not
impossible. for the British oil interests
TO Gust II.
Efforts b. the Standard Oil Company
70 establish q large branch IN France
date back for q considerable period
Last May representations were made
by the State Department In Washington
TO the French Government on the COM
plant OF the Standard that IL was be-
ing Disseminated against by the
French. in that all It's efforts TO estab-
lish supply bases in Havre and other
French ports were blocked Mr.. Bed
tord's trip to France followed this and
the announcement that the Standard
had arranged with the French Gov
erninent for the organization OF a cub
sdiory company In France was con-
strued as meaning that q satisfactory
settlement had been reached.