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'File 60/20 I (C 93) Imperial Bank of Iran: Bahrain, etc' [92r] (184/409)
The record is made up of 1 volume (201 folios). It was created in 22 Jan 1918-Feb 1946. It was written in English and French. The original is part of the British Library: India Office The department of the British Government to which the Government of India reported between 1858 and 1947. The successor to the Court of Directors. Records and Private Papers Documents collected in a private capacity. .
Transcription
This transcription is created automatically. It may contain errors.
lit '. " ■'> ;■
^ Jo
TH IS DOCUMENT IS THE PROPERTY OF H IS BRITANNIC MAJESTY'S GOYERNMENT
'*111u
PERSI
CONFIDENTIAL.
B(j6
SiDfcNCY.
x July 19, 1933.
OOHHDtN ii-L mmb
■ I S ection 2.
E 3922/2502/34]
No. 1.
Mr. Mallet to Sir John Simon.—(Received July 19 )
(No. 323.) y ;
Sir ' t tt a ttt ? 4-"u v. . . ■ Gulhek, July 1, 1933.
I HAVE the honour to transmit to you herewith a copy of a letter and
memorandum that the Imperial Bank of Persia have just received from the
Ministry of Finance on the subject of the Ministry's claim that the bank should
not have taken income tax paid in the United Kingdom into account before
calculating the ' 1 net profits '' on which the royalty of 6 per cent, was payable to
the Persian Government in past years. The royalty came to an end in 1930, at
the time of the cancellation of the bank's right to issue notes (see article 2 (2) of
Appendix No. 5 to the bank's concession signed on the 13th May, 1930), but the
Ministry's claim is in respect of all years between 1889 and that date/ During
many of these years the royalty would not have reached the minimum figure of
£4,000 which the bank was obliged to pay in any circumstances, even if United
Kingdom income tax had been taken into account after, instead of before, the net
profits were calculated; but making all allowances for these years the sums involved
would be likely to prove very considerable.
2. I understand that the chief meager would like his board to take the
dispute to arbitration if the Ministry persist in pressing this claim.
3. I venture to draw attention to the fact that the date, the 8th June,
quoted in the Ministry's letter is the 8th June, 1932, which means that the Persian
Government have taken a whole year to decide upon their answer.
4., I am sending a copy of this despatch to the Department of Overseas
Trade.
1 have, &c.
V. A. L. MALLET.
vw
Enclosure 1 in No. 1.
Persian Ministry of Finance to Imperial Bank of Persia.
The Imperial Bank of Persia, June 18, 1933.
I HAVE to acknowledge receipt of the letter dated the 8th June from
Mr. Barnes, chairman of your board of directors, and I have taken note of the
contents of the memorandum attached thereto with regard to the mode of compu
tation of the annual royalties due by the Imperial Bank of Persia to the Persian
Government.
In reply I send you herewith a memorandum containing the views of the
Ministry of Finance on the subject in dispute. This Ministry hopes that the
arguments set forth in its memorandum will this time be considered convincing
enough by the bank to settle the difference and that the bank's directors will not
allow the aggravation to such an extent of a dispute over so evident a right.
Since the Government have always helped the bank in every respect and still
do so, the bank should not, by contesting such an obvious right, shake the Govern
ment's belief in the sincerity of the bank's friendship.
HASSAN TAGHI ZADEH.
(Seal of the Ministry of Finance.)
[859 t—2]
About this item
- Content
The volume contains correspondence relating to banking in Persia, Saudi Arabia, and the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. . The majority of the correspondence is between the British Ministry in Tehran, the Government of India, High Commissioner in Iraq (later the British Ambassador), Political Residency An office of the East India Company and, later, of the British Raj, established in the provinces and regions considered part of, or under the influence of, British India. in Bushire, the Foreign and Indian Offices in London, Political Agencies in Bahrain and Kuwait, the British Consulates in Shiraz and Bandar Abbas, the British Minister in Jeddah, the British Ambassador in Cairo, employees of the Imperial Bank Persia (later Imperial Bank Iran) and the Eastern Bank, and the Persian Government. Included as enclosures are several newspaper cuttings and transcripts.
The documents cover discussions over the Imperial Bank's operations in the region, including growing hostility in an increasingly nationalist Iran and the plans to open a branch in Bahrain. Much of the volume pertains to the work of rival banks in Bahrain and Dhahran in Saudi Arabia. These banks include the Eastern Bank, the Ottoman Bank and the National City Bank.
Folio 146 is a map of al-Hasa, Saudi Arabia, produced by the California Arabian Standard Oil Company.
Folios 191-198 are internal office notes.
- Extent and format
- 1 volume (201 folios)
- Arrangement
The volume is arranged chronologically.
- Physical characteristics
Foliation: the sequence commences at the front cover and terminates at the back cover; these numbers are written in pencil, are circled and can be found in the top right corner of the recto The front of a sheet of paper or leaf, often abbreviated to 'r'. side of each folio. A second foliation sequence is also present between ff 4-190; these numbers are also written in pencil, but are not circled and can be found in the same position as the main sequence. Circled index numbers in red and blue crayon can also be found throughout the volume. There are the following irregularities: f 33 is followed by f 34a and f 34b.
- Written in
- English and French in Latin script View the complete information for this record
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Copyright: How to use this content
- Reference
- IOR/R/15/1/554
- Title
- 'File 60/20 I (C 93) Imperial Bank of Iran: Bahrain, etc'
- Pages
- 70v:72r, 86v, 89r, 90r, 92r
- Author
- Government of Iran
- Usage terms
- The copyright status is unknown. Please contact copyright@bl.uk with any information you have regarding this item.