CANADA: Venturing Capital

The U.S. owns a big piece of Canada. According to the Dominion Bureau of Statistics, U.S. citizens have invested more than $5 billion north of the border. Better than half of that amount—an estimated $2.7 billion—is in the U.S.-controlled companies, subsidiaries and branches that make up 37% of the investment in Canadian industry.

DBS had just finished its compilation last week when Phillips Petroleum's President Kenneth S. Adams announced in Calgary that his company had bought an interest in 4,800,000 acres of oil rights in Alberta and Saskatchewan. In its northern venture, Phillips was following the trail of such giants...

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