MONSTROUS CONCESSION.
MASTER OF ELIBANK MAKES A DEAL
(Bt Electric Telegraph—Coptbigr.) (Per Press Association.) LONDON, Sept. 4. The text of the oil concession obtained by Lord Murray of Klibank from the Government of Ecuador, shows that Lord
Murray has secured the right to utilise any public petroleum lands discovered in Ecuador during the next forty years. The concession was entirely gratuitous, except for a promise to expend £IOO.OOO in exploitation within a decade upon the discovery of the oilfields. J-ord Murray also secured tho right to expropriate private lands upon terms stipulated by the engineer and approved by the Government. The Elegante, a Guayaquil newspaper, describes the deal as "a monstrous concession."
It was announced in Juno last that Lord Murray, an a director < f Messrs S. Pearson and Son, has signcu a contract with the Ecuador Government for the development of Ecuador oil lands. He also completed a similar contract with the Colombian Government. lie was engaged in these negotiations when ho was wanted to givo evidence about Marconi share purchases with the Liberal Party's funds before the Marconi Commission.
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Bibliographic details
Manawatu Standard, Volume XLI, Issue 9589, 5 September 1913, Page 5
Word Count
181MONSTROUS CONCESSION. Manawatu Standard, Volume XLI, Issue 9589, 5 September 1913, Page 5
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