File 3877/1912 Pt 1 ‘Turkey in Asia: oil concessions’ [303r] (614/834)
The record is made up of 1 volume (412 folios). It was created in 17 Jul 1904-4 Sep 1913. It was written in English and French. The original is part of the British Library: India Office The department of the British Government to which the Government of India reported between 1858 and 1947. The successor to the Court of Directors. Records and Private Papers Documents collected in a private capacity. .
Transcription
This transcription is created automatically. It may contain errors.
AGREEMENT WITH
THE ANGLO-PERSIAN OIL COMPANY
(LIMITED).
Explanatory Memorandum.
1 . Appended hereto are the following documents :
( 1 .) A copy of an Agreement entered into by the Treasurv anrl aa • n
wssssaf ss 3 ^“-
capita 2 ! HiS MajeSty ’ S GOT —* Sha11 Ascribe to the
Ordinary shares ..
Preference shares .. . ’
Total share capital to be held by Government
First debentures ranking- pari passu with existing- debentures
Total Government subscription
£
2 . 000,()00
1,000
2 , 001,000
199,000
2 , 200,000
The Company undertake, prior to the Government shares being subscribed for to
pass the necessary resolution for the addition to their capital of 2 , 000 , 0001 . in Ordinary
shares, and for the detailed amendments of the Articles of Association of the Company
as specified in the Schedule to the Agreement. ^ ^
The Preference shares and debentures fall within previous authorisations
Ihe total share capital and debentures of the Company will be as follows
Existing- Ordinary shares ..
Existing Preference shares
Total share capital held other than by Government
Total share capital to be held by Government as shown
Total proposed share capital ..
Existing debentures
Debentures to be held by Government
Aggregate of proposed shares, capital, and debentures .. .. 4,799,000
. ^5 1>reference shares (6 per cent., participating to the extent of 2 per cent in
dividends after payment of 6 per cent, on Ordinary shares) have the same voting-
power as Ordinary shares. The Government will thus hold a majority of 2,000 share
votes An option has been secured to take over existing debentures when redeemable
viz., the 31st December, 1920. 3
above
1 , 000,000
999.000
1.999.000
2.001.000
4,000,000
600.000
199.000
3. The Agreement has been signed and sealed and is therefore binding upon all
parties subject to the due performance of the undertakings in Clause 1 of the Agreement,
viz on the part of the Company, the passing of the resolutions referred"to above
and the entering into of a contract with the Admiralty for the supply of oil fuel; and
on the part of His Majesty’s Government, the due provision by Parliament of the funds
necessary to give effect to the Agreement. The Company are issuing notices convening
a meeting of shareholders. In regard to Parliamentary provision, the necessary
About this item
- Content
The volume comprises copies of correspondence, memoranda and other papers, produced in response to the prospect of an oil company backed by German capital taking control of future oil concessions in Mesopotamia [Iraq], and the implications that such concessions might have on the Anglo-Persian Oil Company’s (APOC) own oil concession in neighbouring Persia. The prospect of foreign capital exploiting Mesopotamia’s oil resources was a particular cause for concern amongst senior officials in the Admiralty, who were dependent on APOC’s oil production for their fuel supplies, and the Foreign Office. The more peripheral interest of such a concession in Mesopotamia to the Government of India and the India Office The department of the British Government to which the Government of India reported between 1858 and 1947. The successor to the Court of Directors. is reflected in the volume’s papers.
The volume’s principal correspondents are: the Secretary to the Admiralty (Sir William Graham Greene); Secretary at the Foreign Office (Sir Louis du Pan Mallet); Secretary of the Political Department at the India Office The department of the British Government to which the Government of India reported between 1858 and 1947. The successor to the Court of Directors. (Sir Arthur Hirtzel); Permanent Under-Secretary of State at the India Office The department of the British Government to which the Government of India reported between 1858 and 1947. The successor to the Court of Directors. (Sir Thomas William Holderness); the Managing Director of APOC (Charles Greenway).
Subjects covered include:
- correspondence dated late 1912, chiefly between representatives of the Admiralty and Foreign Office, airing concerns over the implications of exploratory oil concessions agreed for Mesopotamia between a consortium including the National Bank of Turkey, Shell (referred to in the volume as either the Shell Transport Company or the Anglo-Saxon Petroleum Company) and Deutsche Bank, to APOC oil exploration in Persia;
- discussion of the Government of India’s interest in maintaining an independent APOC, and whether the Government of India should not invest in APOC, including a proposal that it purchase oil from APOC for use on the Indian railways, or contribute to the purchase of fuel supplies on behalf of the Royal Navy;
- through February 1913 to April 1913, diplomatic negotiations (including some correspondence in French) seeking to secure concessionary agreement for oil exploration in the Mesopotamian vilayets of Mosul and Baghdad for APOC (based on earlier arrangements made between the Ottoman Government and William Knox D’Arcy on APOC’s behalf) against the competing claims of the National Bank of Turkey consortium, and oil exploration rights outlined in the railway concession held by the Société du Chemin de Fer ottoman d’Anatolie (Anatolian Railway Company);
- between May 1913 and July 1913, with the likelihood of APOC not being given exclusive oil concessionary rights to Mesopotamia, negotiations to secure ‘absorption’ (with a British-controlling interest) of APOC with the National Bank of Turkey or its partners, Shell and Deutsche Bank.
The core correspondence in the volume dates between September 1912 and September 1913. The earlier date indicated in the volume’s date range refers to a copy of a contract between Turkish Government’s Ministry of the Civil List and the Société du Chemin de Fer ottoman d’Anatolie, dated 17 July 1904 (ff 147-148).
The volume includes a divider which gives the subject (Turkey in Asia: oil concessions) and part number (1), the year the subject file was opened (1912), and a list of correspondence references contained in that part by year. This is placed at the back of the correspondence (f 1).
- Extent and format
- 1 volume (412 folios)
- Arrangement
The papers are arranged in approximate chronological order from the rear to the front of the volume.
The subject 3877 (Turkey in Asia: oil concessions) consists of 3 volumes, IOR/L/PS/10/300-302. The volumes are divided into 5 parts, with parts 1 and 2 comprising one volume each, and parts 3, 4 and 5 comprising a third volume.
- Physical characteristics
The foliation sequence commences with 1 and terminates with 411. The front and back covers, along with the leading and ending flyleaves have not been foliated.
- Written in
- English and French in Latin script View the complete information for this record
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File 3877/1912 Pt 1 ‘Turkey in Asia: oil concessions’ [303r] (614/834), British Library: India Office Records and Private Papers, IOR/L/PS/10/300, in Qatar Digital Library <https://www.qdl.qa/archive/81055/vdc_100028928519.0x00000f> [accessed 21 December 2024]
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Copyright: How to use this content
- Reference
- IOR/L/PS/10/300
- Title
- File 3877/1912 Pt 1 ‘Turkey in Asia: oil concessions’
- Pages
- 303r:305v, 309r:312v
- Author
- Unknown
- Usage terms
- The copyright status is unknown. Please contact [email protected] with any information you have regarding this item.