1930-08-26 — Page 1

Page

MASON'S

DELICIOUS.

O.K.

SAUCE.

Library, Supreme Court

Hongkong Daily Press

No. 22,494 號四拾玖百肆仟萬式第日叁初月柒年午庚

Hygienic Because Machine Squeered

· KIAORA

OFANCE

Made from

ORANGES AND LEMONS

WHAT " COULD BE MORE HEALTHFUL?

Made from Fruit Juice, crushed from selected fresh tree-ripened fruit and cane sugar. No need to bathor with

home-made Squash.

NOTHING EQUALS

KIA-ORA

LEMON AND ORANGE

.."

SO ECONOMICAL-JUST ADD

WATER

Obtainable from all

Stores and from the Sole Agents;- 2

CALDBECK MACGREGOR & CO., LTD.

(Incorporated under the Companies Ordinance of Hong Kong)

Prince's Building,

Ice House Street. Telephone 20075.

HONG KONG, CANTON AND MACAO STEAMERS

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HONG KONG, TUESDAY, AUGUST 26, 1930. 式拜禮 日陸廿月捌年卡百九仟查英 Price

WORLD OIL SUPPLY AND ITS FUTURE.

THE COMING NEGOTIATIONS WITH IRAQ.

STATEMENT OF THE BRITISH POSITION.

Apart from settling a number of behind the scenes for several years outstanding points arising out of the past. The Iraq Government would, Anglo-Iraqi Treaty in consultation of course, like to see the country's with the authorities at Whitehall, oil, deposits opened up, since the the official mission of Mesopotamian concession held by the Iraq Petro- statesmen, headed by the Prime leum Company, Limited, provides Minister, General Nuri Pasha as for substantial royalties payable, Said, who also holds the portfolio to the Government on all oil pro- of Foreign Affairs, will be largely duced... charged with discussing the future. of the enormous oil deposits known to exist practically throughout, Iraqi

territory.

It is no mere coincidence that King Feisal happens to be in Europe at the same time, and has deemed it necessary to interrupt his cure a Bad Gastein in order to be available. For it is well known that King Feisal is most anxious to further the economic development of his country, of whose natural wealth the cil deposits are probably the most valuable part.

In order to appreciate the pre- sent position of oil in Iraq it is necessary to go back to pre-War: times, when the Deutsche Bank is terests, as part and parcel of the Baghdad Railway Concession, ob tained throughout Mesopotamia ex- tensive boring rights. As a conse quence of the War the German in- terest in the German Petroleum Company Limited (recently re named the Iraq Petroleum Com pary, Limited), was eliminated, and subsequently a redistribution of the Various National holdings in that company was carried through.

Both France and the United

States of America, clamouring for the open door in Iraq, the older partners in the Ira Petroleum Company, the Royal Dutch Shell Group and the Anglo-Persian Of Company, Limited, agreed to sur- render part of their holdings. As a consequence the four National, groups now each hold 231 per cent. of the £3,000,000 share capital of the Iraq Petroleum Company, the balance of 5 per cent, having been retained by the original concession. aire, the Armenian financier, Sarkis Gulbenkian..

Route of the Pips Line, Among the four principal part ners, the French group alone, re presented by the Compagnie Fran caise des Petroles, which is, in fact, the French Government in a thinly veiled disguise, is anxious to hasten the prospecting operations and to bring about early and micreasing production of Mesopotamian oil. According to the French, the pipe line to the Mediterranean should abuton Syrian territory, bat the remaining groups would prefer the slightly more expensive line across Trans-Jordania and Palestinc to Haifa, if only on account of the alleged easier supervision and pro- tection from Bedouin raids

But, as a matter of fact, neither the Anglo-Dutch partners nor the American interests, headed by the Standard Oil Company of New Jersey, are in the least anxious to draw oil from Mesopotamia. They prefer to look upon the Mesopo- tamian oilfields as a large potential petroleum reserve to be tapped only as and when existing oilfields throughout the world, whose output is adequate and even more than adequate to meet every demand, show signs of becoming exhausted It is for that reason that an intense political tussle has been going on

|

Trial Boring Delays,

Brown, and the Swiss-French group the remaining 24 per cept. in equal moieties.

Division of the Orders.

and oilfields plans, as well as the As regards deliveries of pipe lines necessary rails, bridges, and equip ment for the railway it is intended to build alongside the pipe line to the Mediterranean, Great Britain lenn Company provides for a rea- 50 per cent of all orders, 38 per The concession of the Iraq Petro- and Italy will divide between them sonable period of prospecting and cent, of the remainder going to the trial boring, to be followed by the Germans, and 12 per cent.. to the selection of twenty-four rectangular Swiss-French interests. It is under- plots of eight square miles each; stood that the Italians have agreed thereafter the company is only to to surrender a portion of their of the Government, in the throwing Germans, conditional upon the em participate as manager, on behalf prospective deliveries to the open to public tender of the reployment of a large number of maining oil lands, although the con- Italian engineers and workmer dur- tender for additional oil lands along ploitation of the oil wells. cession stipulates that it may ing construction and in the ex- with all comers.

In view of the repeated delays in the selection of its oil-bearing plots by the Iraq Petroleum Company, it was a foregone conclusion that com peting interests would appear on the scene. This development has not been altogether, unwelcome to the Iraq Government; and in particular the present Ministry in power ance March last, is said to favour a limitation of the Iraq Petroleum Company's rights and the admission of competing oil groups.

Briefly, the British Oil Develop- ment Group, embracing as it does all those principal mdustrial coun tries excluded from the Iraq Petro- leum Company, aims at obtaining a concession entitling it to select on terms similar to those grunt- ed to the Iraq Petroleum "Com- pany, twenty-four rectangular plots. and/or a defined area of sil-bear- ing land within the surplus territory at the disposal of the Iraq, Govern- meat, following the proposed limita tion of the existing concession. Upon the signing of a provisional British Company's Case. agreement, the British Oil Develop- Among these a syndicate, known ment Group are prepared to deposit as the British Oil Development five lacs of rupees, to be forfeited. Company, headed by Admiral of the to the Government in the event of Fleet Lord Wester Wemyss, may the concessionaire failing to curry be said to be the only one to have out any of the agreed conditions. advanced its case for consideration

The Government's Changed well beyond the preliminary stages

Attitude. of inquiry. Its members are among the leading British industrialists and fanciers, including, as they do, Sir Alexander Walker, Sir Robert McAlpine, Sir John Latta, Sir Charles Barry, Sir John Mann, and Sir Edward Iliffe. Prominent in the group are Lord Inverforth, the well-known shipowner, and Sir Ed ward Mauville, the chairman of the first European enterprise to engage in cotton-growing and irrigation in Mesopotamia.

In the course of the next few weeks the London negotiations with the Iraq King and statesmen should help to clarify the position considerably. Since Lord Wester Wemyss first appeared on the scene with his demands for an extensive oil concession, there has been a noticeable change in the attitude of the various Governments; even the British Admiralty, at one time con. cerned in preserving the monopoly Realising that, as a purely British status of the Anglo-Persian Off group, the British Oil Development Company, which is already interest Company could not expect the sup-ed in Traq through the Khanikin Oi! port of the League of Nations in Company, and holds an important defence of the open door in Meso- share in the Iraq Petroleum Com- potamia, it has recently invited an pany, is understood to have come Italian group; briefly called the to the conclusion that it can do no A.G.I.P.7Agenzin Gencrale Italiana | harm to have two irons in the same di Petrolio), and represented by fire. The Italians are openly friend- Brigadier-General Sir Armando ly to the endeavours of the British Mola, to join. These two groups in Oil Development Company apart. their turn have admitted a German from her wish to become less de- group represented by Mr. Thomas pendent on the Soviet for her Ad- Brown, the original concessionaire miralty oil supplies. Italy is great. of the Trans-Persian Railway, wholy concerned in finding remunera is understood to enjoy the backing tive labour for her engineers and of Fried Krup A.G., Vereinigte skilled workmen. The Germans on Stahlwerke A.G., Gute Hoffnung their part are principally interested shuette and Otto Wolff & Co. in the supplying of equipment and To render the new applicants for machinery; whereas the French, a petroleum concession more repre- although already substantially in- sentative of European financial and terested in Iraq Dil through the technical interests, Swiss-French participation of the Compagnie group, composed of the Swiss Bank- Francaise des Petroles, look to the verein and Messra. Paul Girod and advent of the new group to break. Jules Bloch, will also be admitted, down the past tendencies of pro- and the shares in the concession crastination and delay, and to open divided as follows The Wester up at long last the longed-for Wemyss and A.G.IP.. interests to national oil supply in order provide jointly 78 per cent. of the render the country independent of capital; the German industrial the American and Anglo-Dutch Oil group, represented by Mr. Thomas! Trusts.

Diary of Coming Events,

To-Gay,

(August 26)

Queen's Theatre: “Embarassing Moments

World Theatre Vixen" (Chinese film)

Star Theatre: Women."

Central Theatre Feathers."

"Legendary

hods for

Wednesday. (August 27.).

Queen's Theatre: "Big Party.?!" World Theatre Legendary Tizon '' (Chinésé film),

Star Theatre Women:"N

World Theatre : Vizen (Chinese film).

tà

Legendary

Star Theatre, Eternal Love." Lammert's Auction of various wharms in Canton, 3.30 p.m.; Fashions for Auction of Bteamships Charles

www.Hardouin" and "Paul Beau," Auc Central Theatre: The Four tion Rooms, Duddell Street, 3.p.m... Feathers."NA

The Four Public Band Concert, Kowloon

FootballClub ground, 9.15

amation of Miscellane

Majestic Theatre; Half. Bride."!

Lammert's Auction of Furniture. at Nos. 3 and 4, The Albany, com- mancing 14

Dinner Dance: Peninsula Hotel,

European Mail-Inward: Europa

rid Siberia (Angers). Outward!

ous Goods And Steamlaunch "Sea Gull "at Kowloon Godown No. 18, 10.30 am:

Dinner Dance Hent Kong Hotel 30 p.m.

Chinese Athletic Association Tides: High, 11.48 1.m.; Low, 3.04

Europe vid Marseilles (Angers) 2.304.mand. 5.57 p.m.

p.m. Europe via Siberia (Pres

Lincoln), 8.30 a 10

Tides High, 10.56 p.m. and 1138 p.m.; Low, 4.15 am and 4.24 p.m.

Thuzaday, (August 23.)

Queen' Thent

European Mail.-Inward: Europe vid Suez (Kashgar)

Tides:High, 19.10a.m. and 12.42. P.m.; Low, 5.54 a.fo. and 0.30 p.m.

Friday August 2 Queen's Theatrs: “Big Party. World Theatre Fig

Lov

„Star Theatre?" "Ete

Water Polo: 1st Div.: V.RO,

Dinner Dance Peninsula Hotel,

Tides: High, 12.45 a.m., and 1.42

· Party." -- pim; Lov, 6.48 a.m. and 7.02 p.m.

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