ABANDONED

Wanganui Chronicle, Volume 79, Issue 208, 5 September 1935, Page 7

ABANDONED

The Ethiopian Concession OIL COMPANIES’ DECISION AMERICAN ANNOUNCEMENT RESULT OF DISCUSSIONS (By Telegraph—Press Association—Copyright) Received Sept. 4, 9.50 p.m. WASHINGTON, Sept. 3. The Secretary of State, Mr. Cordell Hull, announced that as a result of discussions he had with Standard and Vacuum Oil Company officials, they had informed him that they would withdraw from the concessions to develop more than half of Ethiopia. Mr. Hull said that Mr. H. E. Dundas, vice-president, and Mr. George S. Walden, chairman of the board, had informed the State Department that their corporation owned the concession granted to the African Exploration and Development Company. After discussing the question with Mr. Wallace Murray, chief of the Near-Eastern Division, the two officials conferred with Mr. Hull. He informed them that he had told newspapermen that the granting of the concession at this time was a serious obstacle towards the maintenance of peace, and might have extremely serious repercussions. ' Messrs. Dundas and Walden returned to New York, and late on Tuesday informed Mr. Hull that after consultation with their associates, they were prepared to terminate their part in . the. concession. Their representatives would inform the Emperor that they did not desire to go forward with the concession. Mr. Hull said that his first knowledge that the Vacuum Oil Company was the owner came on Tuesday morning, when Messrs. Dundas and Murray conferred with him. Mr. Hull’s statement incorporated an explanation by Mr. Walden, who said: “This company and its predecessor has been engaged in the petroleum business in Ethiopia for more than 20 years and were interested in the possibilities of petroleum production there and in other countries. Ethiopia would have received a royalty on all commercial petroleum produced under the agreement, which provided for no payment or loan of money, nor had any been made.’’ NEWS IN BRITAIN RELIEF IN OFFICIAL CIRCLES Received Sept. 4, 11.15 p.m. LONDON, Sept. 4. The dramatic news from Washingtot of the abandonment of the Ethiopian concession is welcomed in official circles and the Press as removing an embarrassing complication from the Geneva discussions. The Ethiopian Legatipn at a late hour had no news the cancellation. NO CHANGE OF POLICY . U.S.A. AND ITALO-ABYSSINIAN SITUATION WASHINGTON, Sept. 3. The Secretary of State, Mr Coraell Hull, has issued a statement to the effect that the concession grafted by the Ethiopian Government to the African Exploration Development. Corporation will play no part in the attitude of the United States *owards the ItaloEthiopian situation. BRITISH CAPITAL INTEREST IN CHERTOK CLAIM DR. MARTIN’S LETTER LONDON, Sept. 3. Messrs Hitchins and Jervis, two civil engineers, who are Mr Chertok’s London advisers, disclose that British •capitalists are interested ir» his conccs fiion. They also say that his group Existed long before the present situation arose. Dr. Martin, Abyssinian Minister in London, wrote to Mr Chertok on July 19 confirming the option on an oiler of fifty years’ minora] concessions in consideration of a milltondollar loan, stating that the concessions would not be granted until the money was produced. The territories involved have vet to be defined, which means that the concession will not clash with that of Mr Rickett. MR RICKETT IGNORANT ADDIS ABABA, Sept. 3. The Government officially states that It is fully entitled to grant a concession. Mr Rickett professes ignorance oC the Chertok concession.