875.6363/34: Telegram
The Commissioner in Albania (Blake) to the Secretary of State
[Received October 31—12:30 p.m.]
For Sinclair from Soper:
“Number 21. Terms of petroleum contract settled as follows: First, royalty 12½ plus payment cash bonus $100,000 within three months date ratification or alternatively royalty 13 per cent with no cash payments; second, time 75 years; third, exemption from all taxes except import duty on food; fourth, terms of the agreement three months date ratification, file bond for 20,000 guarantee can carry out obligations during period; fifth, obligation spend total of not less than $40,000 during a period of two years, total of not less than $200,000 during a period of next three years, total of not less than $750,000 during a period of next five years; sixth, selected lands for exploitation limited to total of 1,500 square miles as per first draft;9 seventh, no free shares; eighth, Albanian citizens have the right of substitutions [subscription?] for 24 per cent shares; ninth, at end of 75 years all immovable property reverts to Government of Albania; tenth, all other essential terms remain unchanged. Have reached deadlock on loan. Albania Government demands loan $2,000,000 within six months. Government of Albania trying obtain loan from Anglo–Persian Oil Company.”
- Not printed.↩