BRITISH EXCLUSION.

Northern Advocate, 28 September 1920, Page 5

BRITISH EXCLUSION.

GRAB-ALL CORPORATIONS.

OIL AND STEEL COMBINE

LONDON, Sept. 2G.

The London "Observer" states that in addition to American efforts to control the world's shipping, the American Steel Corporation is seeking to monopolise the supply of products to the Continent. First came the establishment in Germany of Amstea, a subsidiary branch of the United States Steel Products Corporation, the steel trust's selling end. The Amstea concern has already sold 75,000 tons of ship plates to German yards. More important still is an announcement [ from Paris that Herr Stinues and Herr Thyssens, Germany's leading industrial magnates, Schneider and Creusot interests of France, and the United States 'Steel Corporation and thp National City Bank, both the latter linking, up with tho Standard Oil Co., have reached an agreement which aims at tho exclusion of British'industry from tho reconstruction of Europe. The Americans are also negotiating to purchase or lease a ship-building yard at Reval, and to distribute from there steel products to the Baltic countries. They are also offering to supply Esthonia with coal for a period of years.— A. and N.Z.