818.6363/24: Telegram

The Minister in Costa Rica ( Hale ) to the Secretary of State

Your telegram of March 16, 7 p.m.41 Greulich oil concession transferred to Costa Rica Oil Corporation of Delaware, capital $2,000,000. Costa Rican Government notified March 12. Statutes recorded March 22. Terms of sale not publicly known but Greulich said to own only proportionately small number of shares. Sinclair Central American Oil Company, majority whose shares owned by Harry Ford Sinclair of New York City, owns one half capital stock of Costa Rica Oil Corporation. Lincoln J. Valentine has a large interest. Copy of concession which is dated September 23, 1915 sent to Department in my despatch 88, 15th November same year.42 Passed by Congress with modifications better securing the Government over President’s veto and published in official publication 12th of November. Company apparently complying with terms of concession and has geologists actively at work on the field headquarters Limon.

Hale
  1. Not printed.
  2. Ante, p. 866.