File 1421/1908 Pt 4 'Persia: oil; Anglo-Persian Oil Co and Bakhtiaris' [‎185r] (227/292)

other,LareinaTter called the Second Party.
H x x x Further also,af x ter the fonnation of one or r:ore
Corpenies to work oil in tne Eakirtiari country and ajfter
the oil ts passed through the pipes,the First Party un
dinary shares issued,which shares irust be fully paid up**.
that is to say,from the Oil Coy’s point of view it may
be argued that the wording M after the formation of one
or more Coys to work oil in the Bekhtiari country, X X,
the First Party undertakes to give to the Second '.'’arty
3^ of all the ordinary shares issued,'* means that 3$
of the ordinary snares appertaining to this Coy alone
are to be jiven. On the other hand it may be argued from
the Khan*A point of view that the wording "after the for
mation of one or more Coys to work oil in the Bakhtiari
country,and after the oil is passed through the pipes"
is merely chronological and fixes a time when the shares
must be given and that hence the rest of the paragraph
in question, namely, "the First Party undertakes to give
to the Second ^arty 3^ of all the ordinary shares issued
xxx ", entitles them to 3$ of the total number of
ordinary shares issued by the Anglo-^ersian Oil Coy.
ITow the total number of ordinary shares issued was
600,000.- 3^ of which is 18,000 £1 shares or exactly
double^the A.P.O.Coy's letter to the Khans led them to
believe was their due.
At present the Bakhtiari Khans are too much taken up
witn tne part they are playing- in the National } overrent
to be able to devote any thiught to their own affairs,
but a time must surely come,when,sooner or later,they
d^etakes to qfve to the Second Party 3^ of all the or
Fow it appears that the above
will