§ Lieut. - Commander KENWORTHYasked the Prime Minister who are the principal shareholders in the Turkish Petroleum Company; when this company was registered, who are its directors; when its concessions in Mesopotamia were granted by the Turkish Government; and whether the rights of the local inhabitants were safeguarded in these concessions in any way and, if so, how?
§ Mr. BONAR LAWAs regards the first part of the question, I would refer to replies to questions on this subject given on 1st July. The Turkish Petroleum Company was registered in 1912, and according to a recent work of reference, its directors are Lancelot1032W Smith, Esq., H. W. A. Deterding, Esq., C. S. Gulbenkian, Esq., and Sir C. E. Hambro. The rights claimed by the Company were granted in 1914. In answer to the last part of the question, I would refer to statements previously made as to the policy of His Majesty's Government.
§ Mr. LUNNasked the Prime Minister what was the paid-up capital of the Turkish Petroleum Company when it acquired the rights of the whole of the oil production of Mosul and Baghdad; and what percentage on the capital is represented by the British expenditure of the £30,000,000 this year in Mesopotamia?
§ Mr. BONAR LAWThe capital of the Company at the date in question was £160,000 of which £80,000 was issued. It is obvious that such sums would provide for preliminary expenses only and bear no relation to the amount which would ultimately be required for development purposes. No such comparison as is suggested by the last part of the question could be made.