isiana,
Arkansas, Mississippi, Texas, California, Peru and Mexico. In connection
with many of these properties refineries are operated.

b. One subsidiary has 550 marketing stations in Canada. Others market in
various parts of the United States; in the West Indies; in Central and
South America; in Germany, Austria, Roumania, the Netherlands, France,
Denmark and Italy.

The Standard Oil Company of New Jersey comprises only one part--though a
very successful part--of the Standard Oil Group of industries. It is one
industrial state in a great industrial empire.

Foreign resources offer opportunities to the exploiter. Foreign markets
beckon. Both calls have been heeded by the American business interests
that are busy building the international machinery of business
organization.

9. _International Business and Finance_

The steel, smelting, oil, sugar, tobacco, and harvester interests are
confined to relatively narrow lines. In their wake have followed general
business, and above all, financial activities.

The American International Corporation was described by its
vice-president (Mr. Connick) before a Senate Committee on March 1, 1918.
"Until the Russian situation became too acute, they had offices in
Petrograd, London, Paris, Rome, Mexico City. They sent commissions and
agents and business men to South America to promote trade.... They were
negotiating contracts for a thousand miles of railroad in China. They
were practically rebuilding, you might say, the Grand Canal in China.
They had acquired the Pacific Mail.... They then bought the New York
Shipbuilding Corporation to provide ships for their shipping interests."

By 1919 (_New York Times_, Oct. 31, 1919) the Company had acquired
Carter Macy & Co., and the Rosin and Turpentine Export Co., and was
interested in the International Mercantile Marine and the United Fruit
Companies.

Another illustration of the same kind of general foreign business
appeared in the form of an advertisement inserted on the financial page
of the _New York Times_ (July 10, 1919) by three leading financial
firms, which called attention to a $3,000,000 note issue of the Haytian
American Corporation "Incorporated under the laws of the State of New
York, owning and operating sugar, railroad, wharf and public utility
companies in the Republic of Hayti." Further, the advertisers note: "The
diversity of the Company's operations assures stability of earnings."

American manufacturers, tra