353.115V13/24: Telegram
The Minister in Portugal (Dearing) to the Secretary of State
[Received 7:50 p.m.]
39. Vacuum Oil Company represents it will be driven out of business in Portugal if Companhia Industrial Luso-Americana, a newly organized Portuguese company, is allowed to exploit a monopolistic concession for the manufacture of all petroleum derivatives and that situation is all the more menacing because of possibility that Government may confirm the monopoly by promising not to change duty on imported refined products for 10 years. Atlantic Refining interests are behind Portuguese company. Government’s attitude so far noncommittal (see Department’s instruction number 193, April 3, 1919, and Legation’s despatch number 486, April 28, 1919, and despatch number 427, July 12, 19231).
New York Office of Vacuum will lay situation before Department and request for their protection such instructions to me as may be possible under circumstances. Vacuum has approached Atlantic Refining which confirms its interests and activity in Companhia Industrial Luso-Americana.
- None printed.↩