FOREIGN TRADE: Fair Share for Standard

In the biggest investment of U.S. private capital made in Italy since war's end, Standard Oil Co. (N.J.) last week paid $10 million for a half-interest in two Italian refineries, plunked down another $2,000,000 for purchase of extra equipment. To help safeguard the investment Standard got an EGA guarantee that it can convert at least $14,487,500 of its Italian dividends into dollars over the next twelve years. It is the largest EGA guarantee yet, the first to an oil company. By the deal, Standard got 50% of the capital stock of Italy's ANIC (Azienda Nazaionale Idrogenazione Combustibili), 40% controlled...