"ملف II (F 94) 82/34 امتياز شركة أ.ب.و.ك" [ظ‎‎١‎٩‎٣] (٣٦٢/٣٤٣)

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6. Lord Cadman took advantage of this opportunity to refer to the Iraq
Petroleum Company; to the extent to which it still does not compete with the
i^glo-Iranian Oil Company; to his own position as chairman; and above all to
^Bsums that that company is feeling able to advance to the Iraqi Government
^nihe Shah seemed entirely to appreciate Lord Cadman's explanations' on these
Q points, and I venture to record my own satisfaction that he has forestalled the '
last point reaching the Shah's ears in some garbled form.
7. I did not refer in my telegram No. 71 to the other matter which Lord
Cadman discussed with tihe Shah, namely, that of providing financial resources for
carrying out His Imperial Majesty's present programme of developing his country
Eailway, industrial and military plans are all making large demands, and it
may be supposed that it was the fall in the royalties from the company in its
bearing on these demands that provoked the obstruction and ill-will that the
company has been encountering. Lord Cadman put it to His Imperial Majesty
that to take more money from the company (or to pillory the company in the
press) would seriously prejudice its position and consequently its ability to help
him in his development plans, notably as regards Bandar Mashur for which the
company must find some 15 million in the course of the next few years. Lord
Cadman referred to the possibility, which I understand he had previously
discussed with the Export Credits Guarantees Department, of facilitating
Iranian imports by means of credits in London, and the Shah seemed to accept
the suggestion that the possibilities in this direction might be further explored,
perhaps by sending a special representative to London.
8. During his valuable visit of rather more than a week Lord Cadman took
a keen and most enterprising interest in various manifestations in and around
Tehran of the new industrialised Persia. I feel that my debt to him is by no
means confined to the fullness with which he kept me posted as to his business
conversations. Inter alia I think it is satisfactory that he should have
established direct contact witih the Crown Prince, and that on matters of serious
concern to the future welfare of the country.
I have, &c.
H. J. SEYMOUE.