MANCHUKUO OIL

Grey River Argus, 31 December 1934, Page 7

MANCHUKUO OIL

State Monopoly .Law EFFECT ON TRADING COMPANIES. RUGBY, December 28. Further representations to the Japanese Foreign Office were made ye.-ter-dav by both the British and United States Embassies at Tokio in regard t<_> the effect the new Japanese oil law will have upon foreign companies, ft is understood that the proposed Al: n(hukuo oil monopoly was not viscussed on this occasion. The new Japanese law. which esquires companies to store six months’ supply of oik give,*’ the Government power to fix quotas and prices, as it was recently announced that in fixing the quotas all the increase in trade would be allotted to Japanese suppliers. The effect of the law upon foreign companies would be not only to involve them in heavy additional capital expenditure, bpt to deprive them of opportunities to recoup themselves by increasing their trade.