The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-05-04
OIL CONFERENCE
IN MEXICO ENDS
L. S. Representative Sat
isfied With Result Of
the Meeting


MEXICO CtTY. May 3--Tho COM
mittoe representing tho rive Ameri.
can oil companies concluded their
Today discussions with Adolpho dc
Ia IIucrtn, minister of tho treasury,
this afternoon. "Rosults satisfactory
to both parties have been reached"
in taxation matters according TO n
statement given 10 tho Associated
Press. by Walter g. Tc1glc. presl-
dent ~ the standard on company
Of New Jersey, speaking for the
commission. Mr.. ToaRle declined TO
cunmouis on the efforts made 10
form great pooling company for
exploitation ~ Mexican properties.
bat substance seemingly Is given
rumors that a snag was struck sew
ur1l days Ia this project by the final
paragraph Of the formal statement
Issued this evening which says:
Views on the future develop
mout ~ the petroleum resources ~
the republic have been exchanged
and At later conference II is hoped
that u satisfactory undertaking may
be reached"
The statement ms given out by Mr..
Traglc. speaking for the other mem
bors of the committee OF five. made
up Of J. w. Van Dyke. president OF
the Atlantic refining company. n. ].
DohenY president Of the Mexican
Petroleum company; u. g. Lufkin,
president Of the Texas company. and
Harry t.. Sinclair. chairman Of the
Sinclair Consolidated oil corpora
| ton, says;
shown Every Courtesy.
"The Mexican government has
| ter de Ia lIuofta has been mos,
generous In giving us fuzzy OF his
time In order to cover tho various
matters under discussion. Much con-
sidorntion has hcc.. devoted to tax
problems and results satisfactory 10
both parties have been reached.
"As to production taxes, a basis
| OF valuation Of petroleum products
| has been agreed upon using actual
selling prices as criterion and pro-
vlding moreover for an increase In
the rate OF taxation as selling prices
advance.
"As to export taxes the arrange,
ment made by the Mexican govern
mcnt with the committee on Sep
tombor 3 last, remains effective and
It IL expected that during "a confer
onCe which the secretary tDc II
Huerta) Will have I'm New York viii
bankers, n final disposition OF thii
matter will be reached
Views on the future development
OF tho petroleum resources of th'
republic have been exchanged anC
at later conference It is hopec
that n satisfactory understanding
may be reached"
The American oil men left MeXict
city tonight on special train TO
San Antonio. MIR. Doheny and hi
son are going to Los Angeles AM
Messrs. Teaglo and Lufkin to New
York.
Bond Problem Up.
Questions as TO the relation be
tween Minister de Ia Huerta's con
ference with American bankers an
tho export taxes as mentioned (
lthe statement, ono member OF tn
Icommittee admitted that paymen. o
} the taxes In Mexican bonds may h
! considered I'm conjunction with IN
bankers" There was broad init
nation that Senor de la Hucrta Wi
confer with the oil men as well n
with bankers while he is In Ne,
York.
AS far as could be gathered her
tonight, the present agreement {
, the oil men with the Mexican gov
ernment is virtually an extension O
the understanding reached last IN
and that a further adjustment eithe
/ by another visit to Mexico city b
the oil men OF otherwise, viii b
l necessary, although not In the In,
' mediate future,
/ 1t Is asserted that the committe
at no time during the negotiation
l made any request which might b
(, construed as a demand for chang
l in the Mexican constitution. on
, member OF the committee said in tn
= regard:
|, I'VE were here on matters OF ger
!, eral oil interest and did not go b'
a yond our jurisdiction"
n Asked for general summary {
n the results obtained from the seri'
:, OF conferences this member OF n
Y committee said better understand
I ing had been reached on the entii
q petroleum situation IN Mexico an
that the tax problem had been satii
faCtorily ironed out. Senior de
l. Huerta up TO the present has will
- held comment on the conforenc
. Prior to their departure the Amer
: can oil men paid their respects
q President Obregon,