Business & Finance: Gulf Withdraws

Out of 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.

The 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...

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