The Ambassador in Argentina ( Bruce ) to the Secretary of State
1462. Please advise Holman, president Standard Oil New Jersey, in conference this morning with President Perón and Señor Bramuglia, Perón stated that he was ready to make long term agreement with private oil companies which would enable them increase their refining capacity, keep their proportionate share of the market, and do necessary drilling on their properties. Upon return office, I immediately informed Barbour of Standard and suggested he begin detailed negotiations immediately. If things work out in accordance [Page 300] Perón statement, oil business for private companies will be in best shape it has been in years.