Berlin, Apr. 2
The exploitation on a large scale of supposedly huge oil deposits in with Eastern Germany is announced in sensational reports from New York which have created quite a stir among the German public, The reports state that on the advice of prominent geologists and after extensive secret examinations—and|* tests, large tracts of land were purchased by the Neva, an American concern, and that boring operations will soon be started. It is furthermore declared that the American oil-magnate Doherty is backing the venture which, it is asserted, will assist Germany to pay her reparation obligations.
Industrial circles, however, regard) the reports as fantastic or, at any rate, grossly exaggerated since the presence of oil in North Eastern' Germany has been known for a long. time and deposits, in fact, were already being exploited by German companies on a small scale. The work, however, is carried on with varying success since the oil found is of inferior quality.
The authorities likewise are sceptical as regard this announced American exploitation and are rather inclined to consider the news as an attempt to boost a project stock-issue or as a rank swindle. On the other hand, however, the Berlin paper "Vossische Zeitung" has ascertained through a special representative that tracts of land he American interests who have show themselves very active in the district, At present, moreover, Professor Hasselman, formerly oil-expert to the Standard Oil Ca, is touring the district—Trans Ocean Kuo Min,
Text read from the printed page and cleaned; old type leaves the occasional error.