Word: seaboarders
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...Reflecting company estimates of a potential reserve of at least 100,000,-ooo bbl. in its new field, Barnsdall stock in six weeks was moved up from $20 to $34 per share. C In ancient Teheran, capital of Iran (Persia), word leaked out that Seaboard Oil Co. had acquired exploration and exploitation rights to 180,000 sq. mi. of Iranian territory...
...have been less provisional were Afghanistan better recognized as a potential oil source. Until a few years ago neither oil prospectors nor anyone else traveled freely among the rifle-bearing Afghan hillmen. The potentiality of Afghan oil fields is something presumably best known to Inland. In Manhattan last week Seaboard's President John Meston Lovejoy, who is also president of Inland Exploration Co., remarked with restraint that the concession was an opportunity to spend a lot of money. Said cautious President Lovejoy: "This is a concession for exploration as well as for exploitation. . . . No oil testings have ever been...
...company. And whether or not Afghanistan suddenly disclosed "probably the greatest untapped oil reserves in the world," as the Associated Press reported from London, Seaboard had agreed to try to build up production in ten years to the considerable flow...
...Seaboard's cellar door into the Middle East opened only after nearly two years of patient palaver in Afghanistan's moun tain capital of Kabul, in Geneva and in Berlin. Able diplomat in these negotiations was Charles Calmer Hart, oldtime Washington correspondent of the Portland Oregonian, U. S. Minister to Albania un der President Coolidge, Minister to Persia under President Hoover. Then the only trained newsman in the diplomatic service, subtle, cheerful Charlie Hart provided the State Department with some of its best official reading in his reports on such mat ters as the development started by Stand...
...must be entirely American. U. S. engineers have been well regarded in the East ever since they helped complete Iraq Petroleum's 1,200 mi. pipe line across Iraq and Syria to the Mediterranean in 1935. More important than that, and perhaps most important for the concession to Seaboard, is the fact that Afghans are still skittish about British interference. European-minded King Amanullah was chased out in 1929 partly because he tried to force pants on his tribesmen. His successor, Nadir Khan, was assassinated in 1933 after he had agreed to let Britain extend the Khyber Railway...