EXPLOITATION OF OIL
PROPOSED AMERICAN CORPORATION. BILL BEFORE THE SENATE. (By Telegraph.—Press Assn. —-Copyright.) (Australian and N.Z. Cable Association.) WASHINGTON, June 15. (Received June 15, 7.45 p.m.) A bill has been introduced in the Senate providing for the formation of a United States Oil Corporation to develop oil resources in foreign countries. The corporation would give the United States a preferential right to take all the supplies at market prices. American citizens would own the majority of the stock, and the corporation’s president would appoint the corporation’s officers. The Secretary for the Interior, Mr Payne, sent a letter to the Senate objecting to these provisions, but indicating that the administration otherwise regards the measure favourably.
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https://paperspast.natlib.govt.nz/newspapers/ST19200616.2.44
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Southland Times, Issue 18850, 16 June 1920, Page 5
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115EXPLOITATION OF OIL Southland Times, Issue 18850, 16 June 1920, Page 5
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