Rising Sun Ca. to Take Over A.P.C. Branches Dairen, May 19.
AIL trading rights, including the existing business establishments in Manchoukuo and in the Kwantung. leased territory, of the Asiatic Petroleum Company will be tr foreed {othe Rising Sun Petroleum Company, subsidiary of the Anglo Dutch-Shot! group, Rengo learned. here to-day.
"The report that this transfer taking place followed a London despatch to the effect that the three major foreign oil firms in Manchoukuo—the Standard-Vacuum Company, the AP.C. and the Texas Company Siwere planning to withdraw from new Empire, because of the difficulties atsertedly placed in their way by the enforcement since April 19, of an Oil Monopoly Law.
The Rising Sun Petroleum Company thas already complied with all necessary requirements for the establishment of a branch in Dairen, preparatory to the taking over of the business of the Asiatic Petroleum Company in Manchoukuo.
This transfer, however, will not resuit in the withdrawal of British li interests from Manchoukuo, observers here said, as the Anglo-Dutch-Shell interests also control the APE.
The American all tinnis, the Stan~ dard Vacuum Oil Company and the Texas Company, these observers pre dicted, probably will follow. the 'AP.C's action and seck to consolidate their position by letting their business be handled in Manchoukuo by their Japanese branches.
The Asiatic Petroleum Company has been in business in Manchoukuo for about 30 years—Rengo.
Text read from the printed page and cleaned; old type leaves the occasional error.