812.6363/6338
Memorandum of Conversation, by the Acting Secretary of State
The British Ambassador called to see me this morning by appointment.
The Ambassador inquired with regard to developments in the Mexican oil controversy and I gave him for his confidential information the present status of this matter. The Ambassador expressed the opinion that the only feasible solution was a partnership between the Mexican Government and the companies providing for a division of the profits from the oil properties with the management of the [Page 710] properties placed in the hands of competent neutral parties. The Ambassador expressed his personal regret that the companies had refused to accept the suggestion which the Department of State had made to this effect some months ago.