GREAT OIL FUSION

Dominion, Volume 12, Issue 205, 24 May 1919, Page 12

GREAT OIL FUSION

SIR JOHN COWANS'S I'OST. Sir. John Cowans, whose resignation of llio jmst of Quartermaster-General of the British Forces was recently announced,, ifl to join tho Shell Oil group, one of (lie greatest oil-producing and distributing organisations in tho world. Tho Shell group is about to extend its operations. When it has obtained control of the, Mexican Eagle Oil Company —as to which (says tho "Daily Mail"; an official announcement is daily expected— it will morn than ever be a serious competitor with the Standard Oil Company of tho United States. Tho Shell Transport and Trading Compauy was formed over 20 years ago with a capital o£ just under .£2,000,000. Its issued oapital is now over X' 10,000,000. valued in the initrkot at nearly ,£70,000,000. About twelvo years ago its interests woro fused with the Royal Dutch Petroleum Company. The assets of both companies wore transferred to a British company (tho Anglo-Saxon Petroleum Company) and a Dutch company. Of tho share capitals CO per cent, is held by the Eoval Dutch and .40 per cent, by tho Shell so that' the Koynl Dutch has tho controlling intorest. The properties of the amalgamated concern are in tho Dutch Indies, Rumania, Russia, Egypt, Mexico, Sarawak, and the United States Sir Marcus Samuel is chairman of tho Shell Com pan v, and among its other directors are Mr. Samuel Samuel, M.P., and Sir Beginald M'Lcod, the ex-Civil Servant., For some years past the company has paid 35 per ocnt. dividends on its ordinary, shares. Its affairs have been prominently discussed in financial circles becauso of its expected acquisition from Lord Cowdray of a big interat in the Mexican Eagle Oil Company, which has an issued capital of .£5,000,000, and paid last year a dividend of 23 per cent.