13 AUGUST 1927, Page 24


One of the particularly interesting points in the address to shareholders of the Bank of Roumania at the recent meeting, by the Chairman, General the Hon. Sir H. A. Lawrence, was his reference to the progress of the great oil industry in Roumania. He showed very clearly that output was progress- ing, the production in last year having been 3,241,000 tons as compared with 2,313,000 tons in the previous year, while it may be pointed out that before the war the best production in any one year was under 2,000,000 tons. Incidentally, last year's figures amply fulfilled the prediction of a year ago by the Chairman of the Bank of Roumania, who forecasted that exports of oil from Roumania for 1.926 would probably double those of the preceding year. General Lawrence also referred to the recent revision of the export tax on oil and railway charges by the Roumanian Government, expressing the opinion that the circumstance should largely offset the effect of the reduction in world prices of oil.

A. W. K.