Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-24
Los ANGELES INTERESTS
PURCHASE OIL RIGHTS
Obtain From Mexican Gov.
eminent What Amounts to
Blanket Concession.
DEAL IS LARGEST IN HISTORY
More 1'hnn Eleven Million Acres, hd-
Joining Rich Workings OF Oldest
Companies In Tnmpiro md TUX
pnm Districts Are Involved.
ny Associated prcssl

-
LOS ANGELES. Dec. 23.-rhc Los
Angcics Times today reported an an =
houncement from tho promoters tina,
group OF Los Angeles manufac-
turcrs. bankers and oil operators
has obtained from the Mexican gov
eminent what amounts to "A blan-
kct concession on all government
lands in the old district of the coast
IL Is by far. the biggest oil trans
action in Mexican history" the Times
said. and probably the most i'm :
r"rtant deal OF It's Kind in the world.
for II Involves 100000 acres of
land adjoining rich workings Of the
Oldest established companies In the
Tampico and Tuxpam districts"
IIns Political Significance.
Tho paper further declared the
transaction also has important 20
'tical siSniicancc. coming as 1t dors
after the extended controversy be
tween the Oregon government, and
the American oil companics In which
the United States government has
been as yet an unsuccessful arbi-
traitor"
II Is announced the Los Angeles
group VIII 20 into the Mexican oil
district ana operate according To tho
Mexican article twenty-scycn, and
under Federal concession on the
Same royalty basis which establish
ed companies have declared combs
catory. The concession, IL is stated.
permits them Ia drill on lands i'm
inediatcly joining the rich wells In
Mexico.
Tho announcement came after tho
return here from Mexico City OF
w w. Wilson. g. l.. Morciand and
George j. Bushmiller. who stated
they obtained the concession after
an Interview with President Oh-o-
gon, who personally went into tn,
Details OF the enterprise
Includes .Junnn Ramirez.
The concession, they stated. was
made out under the direct super
vision of VI. Aichrio Robes. Secretary
Of Industry, Commerce and Labor. in
tho Obrcgon Cabinet. Mr.. wilson
said the lands designated comprise
virtually al! Federal oil lands cx-
tending along TIA" Gulf coast from "A
point north %! Tampico 10 TuXpam.
clos" To holdings Of the Standard
oil Company, the Dohcny interests
and other prominent oil companies.
IN" concessions also include In. is
land Of Juaua Ramirez. said to have
been long sought by American com
pau!"s because az it's important loca-
ti"u in geographical surveys
'Thc concession provides that 40
per cent al the gross production 20
I" the Mexican governments: that
tn" ronccssiouaricS pay ) pesos year
nectar for TIA" land they viii ,X-
nl"i'. that a dcposi, OF 400 900 resos
To- mad" aud that 200. 600 pesos b..
invested In works and ~ Grafton
within a year.
i's" Years for iIR!ora;Iun.
TWO years are given for cNplora
ton aud thu concession runs for
twenty ycnrs with provisions FOR re-
ncwal.
The exploitation VIII be financed
entirely by Los Angeles capital. II
& announced, and plans already arc
"'H advanced tor the election or
tho center for the active work Of the
undertaking.
wilson and Moreland are mauufsc-
'urers OF oil drilling machinery and
uShn!!I"r - AN oil operator
oihcr members OF tho syndicate,
) inch is described nS "A closed corpo-
ration, include Harry Lee Martin.
capitalist. Austin -. Martin. banker,
John .. Covcrly. capitalist: Fcrdi
nand J. Bushmiller. oil operator. and
i'r. l." -. Ioics, physician and CAPT
tdlist.
Mr. Martin and Mr.. Morcland are
expected to return 10 Mexico civ to
put the plan into operation as soon
as possible. IT Is said