| Summary: | Sign Japan Oil Concession Soviet Hails Move As Big Step In New Union. Sign Japan Oil Concession Soviet Hails Move As Big Step In New Union Moscow, DEC. 14. (AP) - The agreement between the soviet government and four Japanese companies for exploitation of oil fields in northern Sakhalin Island, hailed by Felix Djerjinsky, head of the Russian supreme economic council, as "the first tangible accomplishment in the new Japan and Soviet union" was formally signed today. The concession which runs for 45 years,covers half the existing oil field in northern Sakhalin, formally covered by a concession given the American Sinclair interests, but subsequently revoked. Mr. Djerjinsky, who signed for the Soviet, said the agreement was the first fruit of the Russo-Japanese treaty concluded early this year at Pecking.
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