"F 80 ملف 82/34 I امتياز أ.ب.و.ك" [‎١‎٠‎٦] (٤٣٦/١٩٧)

fa
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The Chairman of the Company, while in Tehran in
1929, in the course of the negotiations which then took
place, warned the Persian Government's rep resent at iv^^
that he foresaw that conditions in the oil industry might
change for the worse, but at that time the Persian Govern
ment's representatives were unwilling to visualise the
possibility of the profits of the Company being reduced,
and therewith the Persian Government's royalties.
The heavy fall in profits in 1931 suffered by the Com
pany in common with all other large oil undertakings, of
which the Persian Government's representatives had in
1931 and in 1932 been forewarned, was certainly most
unfortunate, but it did not affect adversely the Persian
Government alone, nor does it afford any justification for
the claim of the Persian Government that it has the
right to cancel the concession on the faith of which so
much money and work has been expended.
It cannot be too strongly emphasised that the Board
is and always has been desirous of settling all questions
that arise between the Company and the Persian Govern
ment in a fair and friendly manner and in the broadest
possible spirit consistent with its duty to endeavour to
preserve a fair and just equilibrium between the interests
of the Persian Government and of the Stockholders of
the Company, and it is believed that the information
which has been given above would satisfy any impartial
person that the suggestions made by the Persian
Government to the contrary have no foundation.
The Board do not wish to minimise the seriod I
character of the action taken by the Persian Government,
nor the grave nature of the difficulties with which, in
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