The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-16
STANDARD OIL
ENTERS FRANCE
Directors. Through A. G. Bed
ford and Paris Bank, Close
Deal to Open Branch.
STIR CAUSED ON BOuRSE
Temps Reports Details of
Agreement-Big Fight Of
Rivals May Result.
BIZ ms Aasoeiated Prs


PARIS, Oct. 15.-The Temps this eve
ming prints a despatch, dated New
York. saying that the Standard Oil
Company had founded a branch in
France. The despatch added that ne
gotiations between A. C. Bedford
chairman Of the board of directors of
tho Standard Oil Company Of New
Jersey, and the Banque de Paris ct
Pays Bas had reached the final stage
in the organization of French sub
sidlary of the Standard Oh Company.
Jules Cambon. former Ambassador in
Berlin and Washington, was said TO
have been chosen as president Of the
company.
The news created a stir on the Paris
Bourse and was tho cause OF greater
speculation in oil stocks than had been
seen for long time.
Royal Dutch shares declined 400
francs. while Shell Transport stocks
also We're weak, closing points be-
low Wednesdays figures.
Laurent Eynac. general commissioner
OF the French Government charged
with the supervision Of the oil trade
in France. said to-day's excitement was
due TO more than speculative interest.
rs IL meant that the price OF oil and
gasolene would he much lower shortly,
and that this probably would be the
salvation of the French automobile in
dustry.
"A. G. Bedford told the Associated
Press this evening that the negotiations
had not yet reached point where he
could make "A statement. Asked II Il
were true that n Frsnco-American n
Standard oil Company had been organ
lied. Mr.. Bedford replied I'VE have
had subsidiary branch tn France since
last April"
The article In the Temps says the
American Standard Oil Company con-
trolls 20 per cent. OF tho company. and
tho Bank de Paris ct Pays Bas 81 per
cent. The American representatives. of
the company are given as A. G. Bed
ford. II. E. Bedford and W. Oswald,
ana the French members as NJ Cam
bon, Horace Flnaly and Jules Rein.
In Boursc circles Il was generally
contended that the formation OF the
company was the culmlna tion OF nego.ia-
tons which had been going on for the
last year in efforts by the Standard on
company TO gain the right 10 enlarge
Lts DuAncss IN france, but In which ~
was opposed bitterly by other oil In
terests. Some members Of III, Bourse
asserted that Il was Just the beginning
ri an open battle between two OF the
most powerful oil companies IN the
world. private negotiations between them
having failed.
Complaint was made some months ago
by the Standard oil Company that tho
French were placing distractions In the
way OF Introduction OF fuel oil into
France by the company's French sub
sidiary, and IN May IL was learned tho
state Department at Washington had
made representations on Tho subject TO
the French Government
The Standard oil Company on April
organized n French concern for
handling petrol products. with q capl-
tai Of 25.000.000 francs. Negotiations
had been going on between the Standard
on Company and the French Govern
ment for the purpose OF obtaining per-
mission Co erect oil storage tanks az
Hayrc and for other necessary business
projects. This permission was refused
and. according TO officials OF the COM
"a. -.