The New York herald., 1920-12-02
FRENCH TO EXPLOIT
RUSSIAN OIL FIELD
Syndicate Under Organization
as Competitor to Stand
ard Oil.
WELLS SOUGHT HERE TOO
Proposal Indicates Change in
Position Of French Gov
ernment.
WELLS SOUGHT HERE TOO

special Gable to THE New YORK HERALD.
ccDur,ght. 1890. by THE NEW YORK HERALD.
New York Herald Bureau.
Paris. Dec. l.
Although the Cabinet instructed NJ.
Evnac TO complete his project in con-
nection with the new oil law along the
lines of liberty under State control
which would mean virtually the contin-
uation of the present system under
which the Royal Dutch interests hold
a grip on the French oil "larket. The
NEW York HERALD .r~s5Gspond ent was
informed by a mcE ;shaole authority
that a new cons .Tlum was being pro-
NOTED by Freuch financiers with the
intention of uniting scores of so-called
oil owners throughout the world and
using them as counter to monopoly
either by the Royal Dutch or the
Standard Oil groups.
Just who rs behind this new movement
is still secret. but when VI. Eynac's
project comes up for parliamentary dis
cussion before the end Of this winter a
competitive organization viii have been
esta bhshed. 1t was said that support
already had been promised to this or
ganization by many Deputies who are
known not to favor State control
which keeps oil prices higher here than
and who also are opposed to turning
the French oil market over to either
American or British competitors
The movement was said TO have been
accelerated by the Standard Oil Com
pany's selection OF NJ. Jules Cambon as
president of that companys newly Or
ganized French branch. many Govern
ment officials holding that NJ Cambon
having long enjoyed diplomatic prvi-
leges as member Of governmental conf
missions, such as the Preparations Com
mission, has TO right to direct an i'm
portant commercial enterprise. which
aims at supplying France with oil. or 20
involve himself in an oil contest. which
If successful, would mean immense per-
ssonal profit to him as associated with
the Standard Oil group. 1t was expected
that VI. Cambon would resign from dip
lomatir affairs. but apparently he has
no intention of doing So
According 10 THE NEW YORK HERALD
correspondents informant the new group
will control as many actual drillings as
docs the Standard Oil Company, having
negotiated for several months with inde-
pendent oil well owners in Mexico and
the United States.
At present. the informant continued,
the consortium is working on a scheme
for handling Russian oil fields, which
will be open for French exploitation, as
we'll as English and American. as soon
as commercial relations with south Rus
sian ports are definitely established and
tank ships are available for export 1t
is understood that pressure Is being
brought to bear on high Government Of
ficials here by financiers interested in
this later feature of the proposed COM
petition and that they are really respon-
sible for what was regarded here as the
remarkable decision by President Mile
rand and Premier Leygues to renew
French dealings with Russia after hav-
ing for two years steadfastly refused to
sec any possibility of separating trade
recognition from political recognition of
the Moscow Soviets