352.1153 St 2/1: Telegram
The Ambassador in Spain (Hammond) to the Secretary of State
[Received December 6—10:51 a.m.]
133. Department’s 99 of December 2. The Porto Pi Company, a Spanish concern in which a minority interest is held by French shareholders, has already been seized in its entirety without a previous valuation having been made.
The Alicante plant of the Standard Oil is only partially usable for storing the supplies belonging to the monopoly which the company has been arbitrarily directed to take in charge with no offer of compensation. When partial seizure was made the company lodged formal protest. Two subsidiaries of the Shell Company have received seizure notices, presumably with the intention of using their [Page 699] facilities for storing monopoly supplies. No valuation was made. Pressure is still being brought against the monopoly plans by many powerful influences, but it is likely that their efforts will be unsuccessful. The Government and monopoly officials appear to be confused since all are unfamiliar with the oil business and seem to be acting without a concerted plan.