New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-08-12
Denies British Oil
Interests Seek
Grants i'm Russia
S. o. of N. ]. Head Says
Uniform Policies Of u. S.
and England Preclude
Any Such Negotiations

Adoption OF uniform policy toward
Russia by the British and American
governments makes II clear that no
British oil interest would negotiate on
It's own account with the Russians At
present, Walter c. Teagle, president OF
the Standard Oil Company Of New Jsr-
sey, declared yesterday in a statement
covering the oil situation in Russia,
issued upon his arrival on the Maure-
taniA from London, where he had been
70 consult with European managers OF
the company.
Mr. Teagle said that he had received
no invitation 10 participate with the
Shell and other large Russian oil I'M
terests AZ The Hague 10 consider a
common policy and that no representa-
tive Of his company carried on CONVEX
sations with the Russians at The Hague.
Discussing the relationship OF the
Standard oil Company 10 the oil situa-
tion in Russia. he said:
There are concerned In developing
the oil resources OF Russia, In addition
10 the Standard. the She'll Company and
various Belgian, French and English
groups. The Standards interest Is s
n partner Of the Mobiles. and its position
in respect 10 that country Is neither
complicated nor secret. IL Is in minute
accord with the policy established by
our State Department, In which policy
the British government has recently
acquiesccd.
British Policy
"The British statement Of policy was
contained in n report 20 the House OF
Commons while I was In London by SIT
philip Lloyd-Grcame. head OF the Brit
ish delegation TO The Hague, upon the
with the Russians at that
conference. Sir Philip then stated that
British participation rested upon COM
nlianee by the Russians with three
essential conditions, namely: one, the
Russian government must acknowledge
th6 right OF foreign owners OF property
in Russia 20 have their property re-
stored or 10 receive adequate eompensa-
zion. two. the compensation must be
real. three. there must be effective ma
chinerv 20 secure the fulflment OF the
ALLEGATION. That was an exact restAte-
r,ont 81 our own governments attitude
towards Russia.
tains that II the Russian government
desires 20 continue its present pro,
gram OF naturalization there shoula
he complete compensation for the
nroperty seized. II the government Is
prepared 70 re-establish policy OF
Ownership and management, private
property In Russia should be returned
"a It's original owners with adequate
compensation for the physical damage
done since those properties were taken
from their owners.
Must First Return Property
as this is the policy which has
been adopted by the British as wei
"a the American government, II Is Gear
FRAT no British oil interest would ne
go.iate on It's own account with inc
Russians az the present time.
equally clear that unless and unti! tne
Russian government returns 70 IneI'
owners private property owned IN rus
sia. or gives full compensation lo'
nroperty seized and guarantees the Sc
eurity Of private property In the III
tprc. no business interest Of any eoun-
trv could safely resume business OPP
erntions in Russia, and no private IN
vestmcn. in the further exploitation
OF Russian oil could wisely be MADE
Mr.. Teagle said he knew nothing OF
an arrangement between the lntsrna-
tional Barnsdall Corporation ana the
Soviet government for exclusive rights
"a drill for oil in the Baku fields but
,bat he could not conceive OF any
American interest risking capital IN
Russia until the conditions laid down
bv our State Department and by Grea,
britain were fulfilled. He expressed
the opinion that a change in the att
tude Of the Russian government now
vas entirely possible.