NAVY’S OIL SUPPLIES

Poverty Bay Herald, Volume LIX, Issue 17957, 8 December 1932, Page 7

NAVY’S OIL SUPPLIES

CONCERN IN BRITAIN CONTINUATION 01 PINPEICKS (Klee, Tel. Copyright—United Press Assn.) LONDON, Dec! 1. Official circles are closely watching the Persian situation, in view of the threat to the navy’s oil supplies, brought about by the cancellation by the Persian Government of the AngloPcrsian 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 ol' 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 ear and rubber trades to American interests, over the heads of British competitors. British newspapers regard the annulment; of the concession as a continuation of Persia's perpetual pinpricks, of which other examples are her refusal to allow British air mails to fly over Persian territory, and the dispute over the sovereignty of Bahrein Island. The Aiiglo-Persian Oil Company’s stocks fell 8s lid for the pound unit, I representing a £S,:t7O,UUU drop in the I market. The value of scrip in the ! Burma Oil Company, which is associatied with the Anglo-Persian Company, j fell 3s on the £.'> share, a drop of £1,000,000. I The company has announced the postponement of the interim .dividend until the year’s accounts are available. PERSIA’S FINAL WORD CANCELLATION JUSTIFIED LONDON, Dec. 7. The Times ' correspondent at Teheran says that the Persian Government’s reply to Britain maintains that it is fully justified in annulling the concession. This is the final decision.