The great oil International develops continuously. Where will it end? Already the _Standard Oil_ produces no more than 17 per cent. of the oil of the United States--it is true that it has always disdained the extraction of petroleum--but it refines only 49 per cent., which is a much more serious matter. Rapid Increase in the Activities of the Royal Dutch Production 1910 1,600,000 tons 1913 7,000,000 tons 1920 15,000,000 tons Net Profits 1907 13,000,000 florins 1915 29,000,000 florins 1920 130,000,000 florins Dividends 1907 27-3/4 per cent. 1915 49 per cent. Authorized Capital 1890 1,300,000 florins 1902 7,500,000 florins 1910 50,000,000 florins 1911 100,000,000 florins 1916 150,000,000 florins 1918 230,000,000 florins 1919 400,000,000 florins 1921 600,000,000 florins Financial Results of the Royal Dutch since its Agreement with the Shell. -----+----------------+----------------+----------------+------------- | Gross Profits | Prior Charges | Net Profits | Dividends Year | (in | (in | (in | (per cent.) | 1,000 florins) | 1,000 florins) | 1,000 florins) | -----+----------------+----------------+----------------+------------- 1907 | 13,657 | 242 | 13,415 | 27-3/4 1908 | 13,592 | 66 | 13,526 | 28 1909 | 12,978 | 66 | 12,912 | 28 1910 | 14,644 | 92 | 14,552 | 28 1911 | 13,693 | 2,652 | 11,041 | 19 1912 | 26,680 | 302 | 26,378 | 41 1913 | 30,554 | 384 | 30,170 | 48 1914 | 30,937 | 571 | 30,366 | 49 1915 | 30,419 | 440 | 29,979 | 49 1916 | 32,823 | 193 | 32,630 | 38 1917 | 49,740 | 5,367 | 44,373 | 48 1918 | 96,877 | 24,487 | 72,390 | 40 1919 | 118,169 | 18,169 | 100,000 | 45 1920 | 138,736 | 9,286 | 129,450 | 40 1921 | 107,170 | 3,071 | 104,098 | 31 -----+----------------+----------------+----------------+------------- FOOTNOTES: [Footnote 10: The Netherlands were then in the position in which France now finds herself. The _Royal Dutch_ began by sending two engineers to the United States to familiarize themselves with the details of oil production, since Holland possessed no such industry.] [Footnote 11: A first instalment, representing 70 per cent. of the value of these companies, was alone paid. See chap. xvi, _The Struggle for the Oil-fields of Russia_.]