874.6363 Petrol/8: Telegram

The Secretary of State to the Minister in Bulgaria ( Sterling )

21. Your 25, November 26, 10 A.M. Please seek early interview with Prime Minister and explain that if Petroleum Monopoly Law is applied in such a manner as to destroy the investment of the Socony-Vacuum Oil Company in Petrole it is expected that indemnification will be made and facilities extended for transfer of payments.

Consult with Arnold and if he agrees you may in your discretion refer in your conversation with the Prime Minister to earlier statement of the Minister of Finance to Arnold that in view of the financial situation the Government does not wish to take over plants but is interested in entering into arrangements whereby it would utilize equipment and experience of existing organizations to the mutual benefit of the petroleum companies and the Government.