Great Falls daily tribune. [volume] (Great Falls, Mont.) 1895-1921, 1920-07-29
COMPETITION
IN EXPLOITING
IS NEGAT|VED
Mesopotamian, Russian,
Fields Are Leading
Pact Subjects.

Washington, July 28.-By,
The Associated Press.)-FranceI
and Great Britain, according toi
information reaching Washing-l
ton Wednesday from an author
itativa source, have concluded
an agreement in connecticut
with oil supplies designed to SCI
cure international cooperation!
and to eliminate competitionI
which might give rise to fric-
tion between them.
The provisions of the agreement it'll
is understood, extend to all countries
where the oil interests of the two ma
tions can be usefully united or might
be in conflict. The agreement deals spe-l
officially with the French and British |
crown colonies and provides for coop
Grafton in connection with commercial
concessions to develop oil In Roumania,
Asia Minor, Galacia and the territory
OF the old Russian empire. There also
is a proviso permitting the extensioui
to other countries by mutual consent
Will Not Compete.
In connection with commercial con-
cessions in Roumania. the governments;
agree not to compete, but enter into
common negotiations when their nation
ais desire to obtain oil rights from the
Roumanian government They also agree
that in connection with the oil conces-i
subjects or bodies in Roumania, and
sequestrated by the Roumanian aov-
ernment, they win support their respect
i've nationals in common negotiations
entered into with the government of
Roumania for the acquisition of
such property.
Shares and interests belonging to for
mer enemy companies and corporations
that can be secured by such joint action
French interests.
In companies formed to undertake
the exploitation of concessions, nation
ais of the two countries will have equal
voting power as well as equal propor-'
tions of the caital subscribed and equal
representation on the executive boards
The two governments also agree that
they will Jointly support their respec-
tive nationals in any effort that they
may make to obtain commercial petrol
cum concessions and export facilities in
Russia, and in any territory which, as
the result of the war. may have been
detached from Russia.
Mesopotamian Oil Fields.
As to Mesopotamia, the agreement
provides that if the oil fields there are
developed by the British government,
the British undertake to see that the
French government or its nominees will
receive % per cent of the net output OF
crude oil at current market prices. In
the event of Franco British commercial
company or corporation being used to-
develop the oil fields, it is agreed that
while the control will be British, share
of % per cent in such a company will
be placed at the disposal Of the French
government.
Before the war, rights of development
of Mesopotamian oil fields were held
by the Turkish Petroleum company The
British and French governments have
agreed. as part payment of reparations,
to assign to France and Germany shares
of the company. which thus becomes an
Anglo French corporation.
According to the information here the.
agreement does not affect the interests
of other governments or of their ma
tionals, and il reserves no exclusive
rights TO France or Great Britain, not.
even in Mesopotamia.