852.6363/151: Telegram

The Chargé in Spain (Whitehouse) to the Secretary of State

1. Whitehouse [for] Ambassador Hammond. No agreement has yet been reached by the French or American petroleum interests with Spanish Government, but Shell interests have accepted settlement. Report may refer to 50 percent owned Standard Oil subsidiary Sociedad Compras and Fletamentos valued at 5,000,000 pesetas which has been offered payment in monopoly shares selling 50 percent premium. Owners have accepted offer but shares have not yet been turned over.