354 REPORT ON COOPERATION IN AMERICAN EXPORT TRADE,

chart shows most of the close connections. Nine subsidiary companies
 are reported to be controlled directly by the Royal Dutch
Petroleum Co. and 10 by the Shell Transport &amp; Trading Co. Four
companies, the Bnito (Société Caspiepne), the Mazout, the Bataafsche
 Petroleum Co., and the Anglo-Saxon Petroleum Co., are jointly
controlled by the Royal Dutch Petroleum Co. and the Shell Transport
 &amp; Trading Co. The first two are among the most important
oil concerns in Russia, and were identified with the Rothschild interests.
 The entire share capital of the Bataafsche Petroleum Co. and
the Anglo-Saxon Petroleum Co. is held by the combination, the
Royal Dutch Petroleum Co. having 60 per cent and the Shell Transport
 &amp; Trading Co. 40 per cent. At the time of the amalgamation
in 1907, the Bataafsche Petroleum*Co. was formed to take over all oil
felds, refineries, concessions, and interests in subsidiary companies in
the East Indies, and the Anglo-Saxon Petroleum Co. to take over all
steamers and marketing installations of the combination.! Since
their organization both companies have broadened the scope of
their operation. The Bataafsche Petroleum Co. is connected directly
through stock ownership with 20 subsidiary companies, and indirectly,
 through 2 of these subsidiaries, with 3 other compaiies.
The Anglo-Saxon Petroleum Co. is connected directly through
stock ownership with 25 subsidiary companies, and indirectly
through 2 of these subsidiaries, with 20 additional companies. The
grand total of companies in the Royal Dutch-Shell combination as
shown on the chart is 93. While the Royal Dutch Petroleum Co.
and the Shell Transport &amp; Trading Co., or subsidiary companies in
which they own a majority of the stock, do not in every case possess
stock control of each company in which they hold shares, yet, in
the cases of those companies the majority of the stock is held by
outside interests affiliated with the Royal Dutch-Shell combination,
and which work in harmony with their policies. For example, the
Anglo-Saxon Petroleum Co. owns 25 per cent of the stock of the
United British West Indies Petroleum Syndicate, while the remaining
 75 per cent are equally distributed among companies controlled
by allied interests, one of which, the Burmah Oil Co., has a contract
with the Asiatic Petroleum Co., of which the Anglo-Saxon Petroleum
Co. owns two-thirds of the stock, for the sale of its products through
out Indis.

SECTION 11. COMBINATIONS OF FOREIGN BUYERS.

The American manufacturer, in his export trade, encounters
numerous combinations of foreign buyers. Of the various ones which
have been brought to the Commission’s attention, two classes have
been selected for description—the cooperative wholesale societies
t Petroleum, Vol, IX, pp. 313-314, Petroleum Gazette, May, 1014, p. 12.