"SHELL" TRANSPORT & TRADING CO., LTD, an oil company founded by the late Viscount Bearsted and his brother Samuel Samuel, M.P. The origin of the title "Shell" is to be found in the fact that these two men, as Eastern merchants, gave special attention to the collection of marine shells, their cleaning, polishing, distribution, and sale for decorative and other purposes. In addition to their normal businesses they carried on a substantial trade in the shipment of Russian and American kerosene, then packed in tins and cases, to the Far East.
Prior to the actual registration of the Shell company M. Sam uel & Co. had already established an organisation with various private firms in the East, which proved so successful that a much closer combination was made in 1897 by the formation of the Shell Transport & Trading Co., Limited. From these compara tively small beginnings the business expanded until, in 1928, it covered the production, transport, and distribution of crude petroleum and its products all over the world.
Samuel & Co. acquired in 1895 a considerable territory in Dutch East Borneo and proceeded to exploit it for the production of mineral oil, its refining, shipment, and marketing. This invest ment was acquired, with other oil investments, by the new corn pany. In the year 1902 negotiations were started with the Royal
Dutch company for a reduction of the competition, which was then acute in the Far East, an amicable working arrangement which led to the closest possible amalgamation of interests in 1907. The Royal Dutch company, which had oil concessions in the Dutch East Indies from the Dutch Government, together with the Shell company formed a strong combination that afterwards extended into other areas.
The Shell company in 1928 owned, in conjunction with their associates the Royal Dutch company, oil lands in the Dutch East Indies, Sarawak, Egypt, Rumania, Mexico, Venezuela, Trinidad, the United States, Argentine, etc. Starting with three tank steamers of about 4,500 tons capacity each (which were con structed for transporting general cargo on the return voyages from the Far East), the tonnage owned by the company in 1928 exceeded i,000,000 tons. From an initial capital of i1,800,000, the authorised Shell capital in 1928 had risen to L43,000,000, the issued capital being over £26,500,000 valued in the open market at close on L100,000,000. (L. C. M.)