875.6363/185
The Vice President of the Standard Oil Company of New York ( Cole ) to the Secretary of State
[Received March 11.]
Sir: We take this opportunity of giving you below a copy of Mr. E. S. Sheffield’s cable, of March 4th, text of which was read to you over the telephone Saturday morning:
“In accordance with contract ratified February 18th Anglo-Persian Oil Company, Ltd. have exclusive right to 200,000 hectares until April 30th, this year, when they must choose not more than 50,000 hectares final concession in which drilling obligations are much easier than proposed by us; royalty on the gross production of crude oil 13.5%, other conditions similar to ours. Inasmuch as it is barely possible Anglo-Persian Oil Company, Ltd. may not make good selection on April 30th a similar concession covering second choice of areas might be very valuable. In this connection please take notice they have not sufficient time to drill before April 30th and that their geology in Jugo-Slavia was very poor. We are trying to learn where Anglo-Persian Oil Company, Ltd. is to choose areas and chance for similar concessions to us. Representatives of Sinclair Oil & Refining Corporation have not been here and informed us at Rome they have abandoned project here. Anglo-Persian Oil Company, Ltd. representatives have just arrived”.
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Respectfully,