Word: colombianizing
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...project are nine companies, with the Insull interests representing the distributing end and Cities Service Co. representing the producers, who will share the $100,000,000 cost of the project. Chief of the producing companies are Texas Corp. and Standard of New Jersey, with Skelly, Phillips, Continental, Colombian Carbon, United Carbon also interested...
...Colombia last week went South American Gulf Oil Co., subsidiary of Gulf Oil Corp., the great Pennsylvania petroleum company controlled by the great Pennsylvania Mellons. All field operations were suspended following the decision of the Colombian legislature to add 16% tax to existing royalties collected by the government from oil producers...
...shutdown of Gulf's Colombian fields marked the final step in a series of Latin-American difficulties. In 1926 Gulf's Colombian production was seriously diminished by the cancellation of the Barco Concession,-a concession which unique Henry L. Doherty's Cities Service Co. had obtained from the late great Colombian Virgilio Barco and had then sold to Gulf. In 1929 the Colombian Government upheld this cancellation and the matter is now before the Colombian courts. Gulf Oil has also recently suspended operations in Panama and Mexico...
...action of the Colombian legislature in increasing the tax on petroleum production was interpreted (by Wall St.) as the result of British maneuvering in the world-wide competition for petroleum properties. Specifically, the Gulf departure from the Colombian field was considered a development favorable to Sir Henri Wilhelm August Deterding and his Royal Dutch-Shell group...
...Algonac, 13 are destined to zoom over foreign waters. Scandinavians use them as a means of commuting among the fjords and inlets. Many are shipped to Australia. The only practical means of travel in much of the South American tropical zone is the network of jungle waterways. Colombian explorers and the Ford rubber plantations in Brazil use Chris-Craft sedans. While Chris Smith chews and whittles in the Algonac postoffice, his boats are being sold by dealers all over the U. S. and in 20 foreign countries...