874.6383 Petrol/3: Telegram

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

20. Socony-Vacuum Oil Company is concerned over possibility that eventual legislation establishing contemplated petroleum monopoly in Bulgaria may contain provisions which in effect would prove confiscatory with reference to that Company’s investment in Petrole.10

Please follow developments closely in cooperation with Arnold11 and your interested colleagues and keep Department informed so that if special instructions become necessary the Department will be in position to act promptly. If need arises you may of course inform Bulgarian authorities without previously consulting Department that your Government would view with concern any action which failed to afford just indemnification for American investment in Petrole.

  1. Petroleum sales organization in Bulgaria.
  2. H. R. Arnold, manager of Petrole.