AMERICAN OIL COMPANIES

Greymouth Evening Star, 10 March 1928, Page 7

AMERICAN OIL COMPANIES

PROPOSED NEW MERGER.

(Australian &> N.Z. Cable Association.)

NEW YORK, March 9

The “New York World” states that while the witnesses to-day before the Senate Oil Committee, continued to disclose how Liberty Bonds from the defunct Continental Trading Company were passed on to the Republican Party, Treasury and a group of prom inent millionaires, including Mellon and oil magnates, who underwrote the scheme, and advertised it widely on behalf of Harding and Coolidge in a foreign langauge in newspapers here efforts are now being made to create a giant oil corporation with total assets of five hundred million dollars, in which all the Sinclair interests will disappear from the names of the various corporations, in which they are now interested, but will continue to own many millions of stocks. The Sinclair Consolidated Oil Corporation and Marland Oil Company will be the principal factors in the merger, which because of its huge extent, may possibly have to face the action of the Federal Trade Commission, along lines which more than a decade ago broke up the vast standard oil interests into constituent parts.