891.51/579: Telegram
The Minister in Iran (Dreyfus) to the Secretary of State
[Received 9:39 p.m.]
745. Department’s 346, July 17. The two questions of the necessity for a short term advance and the possibility of obtaining an advance of oil royalties were discussed in my 661, June 25. Arrangements have now been completed to obtain advance of 350,000,000 rials against oil royalties. However, Dr. Millspaugh estimates that in addition to this amount he will need 500,000,000 rials to meet current obligations during next month and enable Government to carry out essential wheat purchase program. This short term advance would not be in addition to loan but would be repaid from loan when obtained. As indicated in my 741, June [July] 19, loan of 2 billion rials or about $65,000,000 is now desired by Iranian Government.