The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-18
STANDARD OIL AID
HAILED BY FRANCE
Formation Of Branch in That
Country lnsmes Supply.
Now Badly Needed.
PRESS RECALLS NERDUN
Great American Corporation
Saved the Day by Extra
shipments, Figaro Says.
~ LAURENCE HILLS.

Special CobIe 20 THE NEW YoaK HERALD.
Copyright, 1890, oy TIE NEW Yorw HERALD.
New York Herald Bureau,
Paris, Oct. L..
The announcement in the Temps here
and contained In dispatches received
from New York OF the formation of a
French branch OF the Standard Oil
Company. with French interests holding
81 per cent. OF the stock and with AL
fred c. Bedford chairman, and other
Standard Oil officials as directors, is re-
garled here az a financial event OF the
first magnitude for France and not
, without great political Importance for
both countries. the United States and
France.
Coming at time when the French
newspapers are full OF articles express
ing anxiety over Frances future oil sup
ply. It is natural that the press here
should hail the announcement with en-
thueiasm.
Details of the organization Of the
French branch of the Standard OIL Com
pany are lacking in Paris. Mr.. Bedford
and his associates being absent from
the city on tour OF the battlefields, this
pilgrimage showing, as some Paris news
papers suggest, common interest on
the sentimental side OF the two countries
which is bound to affect financial and
political relations in the near future.
Press Gives Approval.
Many Paris newspapers print leading
articles in connection with the announce
ment, the Gaulo5s remarhing:
France has been dependent for her
oil on her powerful neighbors, who are
richer in oil than herself. The Entente
with the Standard OIL Company is sus-
ceptible. In certain eventualities. - free
ing US from this condition. Also this
alliance with a financial group of such
importance as the Standard Oh Com
pany cannot help but strengthen our
bonds with America.
ITO create a community of interests
between France and America is the best
| means OF cementing the union which
neither the warmness of our friendship
nor our political affinity would suffice,
perhaps to keep alive
The Figaro recalls that the Standard
Oil Company furnished 80 per cent. of
the Franco-British war supply of oil.
and how it responded to the urgent APP
peals of the French army TO save Verdun
than the contract required, two of its
ships being sunk ~ enemy submarines
while crossing the Atlantic, while the
others arrived in time to save Verdun.
Transactions Of this kind constitute
in effect, the most solid foundation for
political cooperation between our two
nations at ell points on the globe"
Figaro says. 1--WE, therefore, ealute with
Joy this first realization of what can
have happiest consequences in the way
| OF emancipating France in connection
with her oil supply"
! To Insure supply for France.
The object of the new company. it
was announced, is 10 organize regular
oil mportations and to create a large
standing supply here--a supply suf-
flcient TO meet nil Industrial require
ments and to protect France against a
sudden need in case Of war.
AT the same time the company will
free France from the shaclzes OF the
British oil companies. which have been
adopting a lofty attitude recently.
The Standard oil Company has been
delivering oil TO French ports, where
SC was sold to the French consortium.
This arrangement was the subject OF n
heated debate In Parliament last spring.
BY the new arrangement the Standard
OIL Company. through the French COM
psny. enters into direct relations with
con surners I'm this country and agrees
10 supply France With oil.
This relieves the fears expressed by
many French writer's in articles re-
Gently printed that the declining oil pro-
duction meant that the Standard Oil
Cn.uusuv would keen oil from France.