CANCELLED CONCESSION

New Zealand Herald, Volume LXIX, Issue 21359, 7 December 1932, Page 11

CANCELLED CONCESSION

OIL FROM PERSIA BRITISH REPRESENTATIONS PROTECTION OF INTERESTS By Telegraph—Press Association —Copyright (Received December 0, 5.j p.m.) British Wireless RUCIBY. Dec. 5 The action of the Persian Government in cancelling the Anglo-Persian Oil Company's concession on November 27 was the subject of several questions in Parliament. Tho Under-Secretary for Foreign Affairs, Captain 1!. A. Eden, in replying, said the British Government was fully aware of all the circumstances, including the fact that tho concession was definitely granted for a period of 00 years from .1901, and contained no provision for cancellation. On December 2 the British Minister at Teheran had made very strong representations to the Persian Government, emphasising the very serious view held by the British Government, and adding that while it still hoped the matter might be amicably settled, the British Government would not hesitate in case of need to take all legitimate measures to protect its just and indisputable interests. NAVY'S OIL SUPPLIES CONCERN IN BRITAIN CONTINUATION OF PINPRICKS LONDON, Dec. 1 Official circles are closely watching the Persian situation, in view of the threat to the Navy's oil supplies, brought about bv the cancellation by the Persian Government of the Anglo-Persian Oil Company's concession. It is hoped that the company will induce Persia to rescind the annulment without diplomatic intervention, but it is realised that this is less a commercial dispute than an outbreak of Persian nationalism with which it is difficult to deal. The Persian Legation in London reveals the fact that Persia has ordered quantities of munitions from America and that a consignment of American aeroplane engines has arrived in London for shipment to Persia. It is also learned that the Persian Government is about to grant, a virtual monopoly of the motor-car and rubber trades to American interests, over the heads of British competitors. British newspapers regard the annul- 1 ment of the concession as a continuation j of Persia's perpetual pinpricks, of which j other examples are her refusal to allow British air mails to fly over Persian terri- j tory, and the dispute over the sovereignty ; of Bahre n Island. The Anglo-Persian Oil Company's stocks ! fell 8s for the pound unit, represent- : ing a £5,370,000 drop in the market. The value of scrip in the Burma Oil Coin- \ pany, which is associated with the Anglo- • Persian Company, fell 3s on the £3 share, a drop of £1,000.000. The company has announced the post- > ponoment of the interim dividend until j the vear's accounts are available.