§ 37. Viscount CURZONasked the Prime Minister whether he will state the terms of the contract under which the Anglo-Persian Oil Company, in which the British Government has a controlling interest, agrees to supply the Shell Oil Company with its produce until the end of the year 1922?
§ Sir H. GREENWOODI regret that I am unable to disclose the terms of commercial contracts entered into by the Anglo-Persian Oil Company. This particular contract, as I have previously stated, was concluded in 1912 before His Majesty's Government acquired an interest in the company.
§ Viscount CURZONHave the Government an interest in this company and, if so, is not the House entitled to know what the interest is'
§ Sir H. GREENWOODThe Government have a predominating interest in the Anglo-Persian Company, holding two-thirds of the ordinary shares, besides debentures. I thought that was notorious. The Government does not interfere with the commercial arrangements of the company and will not unless, which, of course, will never happen, they are antagonistic to the interests of the British Empire.
§ Sir H. BRITTAINWhat is the annual production of the company?
§ Sir H. GREENWOODI must ask for notice of that question.
§ Mr. MACQUISTENWill the hon. Baronet lay before the House the various other contracts which the Anglo-Persian Company have, so that comparisons maybe made to see where we stand?
Sir J. D. REESIs it not the case that when the contract was entered into there was absolutely no other means of marketing the oll which was so much required?
§ Sir H GREENWOODThe answer to the second supplementary answer of the hon. Gentleman (Sir J. D. Rees) is, in the main, correct. The Government took control over the company in 1914 and agreed that it would not interfere with the commercial contracts of the company; therefore, I am not in a position to disclose them.