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Show u mm MS 5ii;"s of the American C'.iambsr of Commerce for the Levant t-n Sat Forth. to m u? i;mense field Constantinople Destined to Become the "Chicago cf Europe," Says New President of Organization Opportunity Oppor-tunity for American Capital. New York. Constantinople is destined des-tined to become the "Chicago of Europe," according to an interview authorised by Mr. Lucit-n Irving Thomas, a director of the Standard Oil company of New York, which company com-pany has extensive interests throughout through-out Asia and the Balkan states. Mr. Thomas lately returned from a visit to Europe. "I learned, while in London, that I had been elected president of the American chamber of commerce for the Levant," said Mr. Thomas. "I refer to the newly-organized American section of the chamber, now maintaining headquarters in New-York. New-York. It will co-operate with the long-established long-established chamber of the same name which has its seat In Constantinople. "The organization of this chamber Is a timely movement to promote reciprocal re-ciprocal trade relations between America Amer-ica and that great area extending from Egypt to Russia, and from Ter-sia Ter-sia to Italy of which Constantinople is the center. Gateway to Vast Empires. "Very few people appreciate that Europe and Asia meet at the feet of Constantinople," continued Mr, Thom-'as. Thom-'as. "The chain of waters, the Dardanelles, Dar-danelles, the Sea of Marmora and the Bosphorus, made available for free commerce, open the gateway to vast empires of populous and fertile territories terri-tories beyond. "When we realize that Russia, a country considerably more than twice .Is large as the United States, has few seaports that are not ice-bound for I he greater part of the year, except those situated on the Black sea, we may Imagine what enormous trafiic will flow through Constantinople Con-stantinople when Kussi.'i, with a hun dred million of her people nearby, gets Into her commercial stride." "Then consider Roumanla, now with twice her former area a country of great natural resources, with a present pres-ent population of 15,000.000. Bulgaria too, noted for a sturdy and industrious industri-ous population, has her commercial outlet on the Black sea. And even on the farther side of the Black sea is' a group of states which eventually must occupy an important place in over-seas trade. "Jngo-Shivia, now vast in area by comparison with Old Serbia, with substantial natural resources and a population of over 14.000,000 has, of course, one trade outlet via the Adriatic, Adri-atic, and another via the Danube to the Black sea. Without any doubt the Danube is soon to play a nriTeh more Important part In the trade of the Balkan states than it has ever done In the past. Has Natural Wtalth. "Both Jugo-Slavia and Greater Greece will hold a, more Important position than now in the Levttntlne trade of the future. Egypt is growing Into a land of commercial significance. While certain territories ltave been detached from Turkey since the war, there remains much fertile and valuable valu-able land. Turkey is rich In minerals of all binds. "The war and Its aftermath upset exchange throughout the Near East, and this Iras made commercial transactions trans-actions tliflicult for the present. But the natural wealth Is there; and a population for the most part Industrious. Industri-ous. Trade must surely grow. "A high official of an International bank, one who is recognized as having unusually broad and- accurate knowledge knowl-edge of Ottoman financial matters, stated to me at Constantinople that In Turkey fully 60.000,000 In gold is hoarded by the people In 'stocking-leg banks,' and not deposited at all with the public hankers. In this connection connec-tion it should he remembered that the oriental mind is accustomed to think, financially, In terms of 'hard money,' and that prior to the European war only gold and silver were in circulation, circula-tion, to any extent, in Turkey. There Is evidence that great private wealth exists there today, In gold, silver and jewels, not to mention other valuables, and this wealth will come into the current market as trade returns to normal. "The Levant offers a splendid opportunity op-portunity for the Investment of American Amer-ican capital, in a wide range of enterprises. en-terprises. One of the great openings of the present Is for the construction of dwellings, warehouses, harbor Improvements, Im-provements, and so forth. Constantinople Constanti-nople alone has lost 25,000 to 30.000 houses by fire since the war began, and affords a magnificent opportunity for housebuilding activity. I know for fact that the Turkish authorities would welcome anyone coming there for the purpose and that they would even be glad to offer concessions. The prevailing spirit is progressive. Modern Mod-ern Industrial equipment, too. Is now sought where formerly it was shunned. I recall that n long time ago, nrior to the coming into power of the Young Turk party, a business I rnblegrnm was intercepted h the Turkish authorities because it ron-1 ron-1 allied an offer to Import so:ue electric elec-tric dynamos capable of 'LfuliO revolu- t'MV.5 I -r n.lru :e.' The wily ad.-isi I oi Abdul liam.iJ is stiiil to l.'i.e liirow-up liirow-up hi liaiMi at the Mi.eslioii an j reni:i rki-d v. it li some lu at i!::it Turke ; 'had eiio. .;:'!. revolutions on her 'k'r. i-at i-at the moment without em oiti au.li hose iicu-liiS!i'(l troii!i!e-i:ilei's.' Opportunities Are Cteat. "Constat:: iiieple now has ;ni inadequate inade-quate system to pun'Me sithstjintial karlior craft for use in the waters around Cotislant'iiopie. I'enple living on the other side of the l.osphonts lack stiriic'ent facilities for commuting to Coustvintitioiile. "The development of roadways on the European side of the Bosphorus is another matter for business enterprise. enter-prise. If the r.osphorus Is not the most beautiful body of water in the world, I should like to know where, it is to he found. A proper driveway along the shores of the Bosphorus would rather tax the memory of it world-traveler to recall anything more charming. charm-ing. "Opportunites for housebuilding and other forms of construction are open in the . other cities of the Levant as well as in Constantinople. There is widespread need for railroad construction construc-tion and rehabilitation; while at the seaports modern docks and wharves and up-to-date freight nandling equipment equip-ment must be provided. "The Levant should become a growing grow-ing market for American machinery and manufactures of all kinds. Im portations from the Levant must be stimulated, too. in order to improve the exchange and credit situation so that the Near East can buy more from America. Tobacco, licorice, valonia. attar of roses, raisins, currants, dates, figs, goatskins, bides, furs, olive oil. long-staple cotton, rugs, carpets, and oriental objets d'art are among the imports coming Into the United Stales from the Levant. It will be the aim of the American chamber of commerce for the Levant to help establish trade connections between responsible merchants mer-chants on either side of the ocean, and to furnish all possible information informa-tion and assistance to those engaging in trade In this field." Those in Movement. Officers of the American chamber of commerce for the Levant Include, in addition to Mr. Thomas, president, the following: Chairman of the board Mr. J. M. Dixon of the Tobacco Products Prod-ucts corporation ; vice president. Captain Cap-tain J. F. Lueey of the Lucey Manufacturing Manu-facturing company ; treasurer, Donald Frothtngham of the American Express company; secretary and managing di rector. Dr. E. E. Pratt. Temporary offices have been established estab-lished at 200 West Fifty-sixth street. New York city, but It is expected that after May 15 the chamber will be lo cated in the down-town district of New York. ' Firms represented on Ihe directorate director-ate of the chamber, or as life members, mem-bers, include : American International corporation, B. I. DuPont do Nemours- Co., U. S. Rubber Co., Guaranty Trust company of New York, General Motors company. Amory, Browne & Company. Great Lakes Trust ccmipany. Commercial Union of -mevica, Lockwood. Greene & Oompuy, Hammond Typewriter company, A. B. Farquhar company. Robert H. Ingersoll & Bro., Robert College, James A. Farrell, U. S. Steel corporation, Phelps-Dodge company. Brown Shoe company, International Western Electric company, H. J. Heinz company. The membership covers a growing list of merchants, shipowners, bankers, manufacturers and other business busi-ness men of the United States. |