Evening star., 1922-05-05
.O|L RUMORS STIR
GENOA DELEGATES
City Resembles Boom Town
in Excitement-French
Spurn DeniaIs.
Rx the Associated Press

BY the ASSOC .ated ffess -.
GENOA. May 4.-None of the Amer
, ican oil towns ever had greater oil
excitement than Genoa has had over
the rumors that various oil agree
ments have been entered into by the
bolshevik delegation. Petroleum Is
gushing all over the Genoa confer
ence; nothing has created such a stir
since the Germans and Russians
handed to the surprised conference
their Easter treaty.
Baku has been literally moved to
Genoa, and Azerbuijan has been put
on the map for diplomats who FORM
Ferly had little idea where that re-
public on the Caspian was located.
Certain districts never heard of until
this week are being discussed ghbly.
g.. Russians Deny Contract.
The Russian delegation has denied
that it made any contract Tor the
sale Of its output. EVERYBODY from
NJ. Tchitcherin down has denied re-
ports of all contracts. Col. }. w.
Boyle, a Canadian omcer, VINO repre-. =.
sentS the Royal Dutch and Snell
companies here, which are reported 10
have signed eontrac.s sas,, w M'tn nen, n,a,s .ns
SOvletS, mas 1SSueu ISpedtCo uShAsAAS
from his sickDed here.
The British government has also
denied that contracts have been made
with it's knowledge, but the F'rench
correspondents will accept no denlaiS,
and are describing the alleged
treachery," which is supposed to nave
given the British control of the
Caucasian output. 1t was expected
that oil would be the greatest prize
which the Russian could offer at
Genoa; consequently there is Wiling
ness to accept any rumors, and the
air is full of them.
Laid to Bolsheviki.
The Russians charge that the re-
port comes from one OF the nttle
entente countries, which wanted TO
embarrass the soviets in their Genoa
conference, but representatives or
the various non-British companies
which have been dickerlng with the
bolshev;ki intimate that the Rus
SLAMS themselves circulated the
rumors for the purpose OF stirring
up competition and getting better
prices.
NJ. kakovsky made a statement to-
day relative to the Russian oil out
put which shows that the monthly
production averaged 47,O00,00O pools
In 1918, and was nearly 23,O0U,UUO
poods monthly in 1922. "a pood is 81
pounds.) He pointed out that the OIL
industry has suffered less than prac-
IualIy any other in the Russian col
lapse.
NJ krassin, although denying the
completion of any sales or develop
ment agreements, frankly states that
he is negotiating with oil compares
in many countries. The BeiSiins
in the Baku fields, and their oujec-
tion to the Genoa conferences plan
Tor dealing with nationalized prop
erty IN Russia belonging to 1oreign-
ers is based to considerable de-
gree on tnelr fear OF losing tneir In
lerests in Caucasian oil.
Americana Keen Observers.
The Standard Oil Company also had
many properties in AZerDelJan, and
Americans are watching the develop
mentS keenly.
| The soviet delegates say they are
willing to grant concessions for oil
development IN small sections and are
| anxious to make the development re.
| gIOnal, so as not to allow 1t to be
| monopolized. But there seems to be
an absence of concession hunters al
this time, as prospective investors
are not willing TO take over property
which was formerly operated Dy Othel
owners until definite arrangements
are made for soviet recognition and
| the reimbursement of former owners
which would leave the rights unclouded
Col. Boyle, about whom the present
| storm RACES, was In Russia during
| the war assisting in speeding uI
transportation, and in recent years
has been much in Rumania, where ht
has the confidence OF the royal family
| 1t was Col. Boyle who escorted the
Russian dowager' Empress anG hel
daughter from Crimea into Rumanis
after the death OF the emperor.