Business & Finance: Royal Dutch Withdraws

The Royal Dutch-Shell oil combine, greatest competitor of the Standard in the international petroleum field, owns oil properties all over the world. In 1919 the Anglo-Dutch group decided to invade the U. S. field in a large way and purchased 130,869 shares of the Union Oil Co., through its subsidiary, the Shell-Union, for about $21,000,000. This, however, constituted only 26% of Union's stock, and Sir Henri Deterding, head of Royal Dutch, resolved to obtain 51% to control the Company. But several large Union stockholders, alarmed at the foreign invasion, organized the Union Oil...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!