Evening star., 1935-08-31
Move to Halt
II Duce Laid
to Selassie.
STANDARD OIL
UNIT INVOLVED
British Interests
Join in Deal for
Exploitation.
BY JAMES A. MILLS.
(World Copyright. 1885. by the Associated
PreSS)

tWOrlo copyright 1000; Wy VIC nSeoN'"'SN
Adds ABABA, August 3l.-An
Ethiopian government official COM
munique today announced that con-
cession had been granted to the Afri-
can Development Exploration Corp, in
corporated in Delaware, for develop
ment of oil resources over virtually
half of Ethiopia.
Francis M. Rickett, British pro-
moter, who negotiated the concession
with Emperor Halle SelasSie. said the
African Development Exploration
Corp. was controlled by the Standard
Oil Co. Which Of the numerous
Standard Oil companies was involved
was not designated.
(The African Development Explora-
ton Corp. was chartered at Dover,
Del. July IL. 1885. with a capital
stock of 5000 shares of a par value
of 500 a share. The incorporators
were Alfred w. Britten, Edward F.
williams and Vincent w. Weinturp.
The charter authorizes the corpo-
ration to drill for oil. seek out precious
stones, gold, silver and asphalt and
to engage in the work of general de-
velopment. The headquarters are
given as New York, with a repre-
sentative in Dover)
British Negotiations.
Rickett said, in addition, that the
Emperor had entered negotiations
to grant to a British controlled cor
poration known as the Lake Tana
Conservancy Syndicate, the right in
perpetuity to construct a dam ard
pumping station at the famous Lake
Tana, headwaters of the Blue Mile.
Emperor Halle Selassie's action in
granting vast concessions to Ameri-
can and British interests was general
ly regarded here as closing the door
to Italian economic penetration Of
Ethiopia.
1t created sensation In diplo-
matte circles, especially at the Italian
Legation. Most of the diplomats ap-
peared too stunned to make consid-
cred comment but the general i'm
preston among non-1talian sources
was that the "conquering Lion of
Judah" had made bold, shrewd
stroke which would have not only
profound political and economic sig
nificance but would greatly affect the
course Of the Italian-Ethiopian con-
troversy.
Rickett said an initial investment of
$50 ,000, 900 would be made in the oil
and mineral exploitation enterprise.
The affairs of the corporation. the
promoter said, would be directed by an
American board under an American
president.
$4,000, 900 Project.
The lake Tana project involved an
investment of $50,000,000 Rickett
said, and would be controlled by in
terests representing Ethiopia, the Su-
dan and Egypt. with capital appor-
toned among them which would be
from London and Cairo.
Capital of 100000 was esti-
mated by the promoter to be behind
both enterprises.
A 75-year charter, authorizing its
holders to exploit the oil and mineral
resources and develop an area of 150,-
900 square miles was signed just be-
fore midnight Thursday, Rickett said.
This correspondent saw the char
ter, bearing the Emperor's official
title, Amounted King of Kings"
There were two versions, one in Eng
lish and the other in Amharic. They
bore the great imperial seal.
Rickett, known as the Lawrence Of
Finance of the Near East" and
known for having acquired great
oil fielci, said work
would begin in few weeks.
He aid the Emperor would receive
D substantial share of the profits,
which would be devoted to road build
ing, education, hygiene and general
l. -,rovement of the empire.
Involves Eastern, Half.
The concession area embraces the
entire eastern half of tn" empire,
from LAX Rudolph in
northeasterly direction toward Err
trea and including ~" oil fields of
Aussa and Jigjigga.
Obser-ers believed that the En-
peror's aim, on the eve of an apparent
war, was to prevent Italy from OBJ
taini-g control of Ethiopia, with its
resources of petroleum and mineral,
as well as Lake Tana, source Of the
Blue Nile waters Of Egypt and the
Sudan.
Ethiopians assumed that even II
(See ETHIOPIA, page 81