The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1897-04-24
TRADE CHANCES In
TURKEY AND GREECE
American Commercial Interests Not
Much Affected by the War.
OUR TRADE THERE IN THE PAST
II Has Been Slight, According to
Consular Reports, but Can BE In
proved IfIntelligent study BE Given
to the Markets oithe Two Countries
Now at Each Others Throats.

Special to The Scranton Tribune.
Washington, April 23.-The effect Of
the war between Turkey and Greece
will probably be felt less in the United
States, in a commercial way, then in
any other country. our export trade
with both of these countries is COM
paratively small; in fact, almost insig
nficant. A report from Consul Short,
of Constantinople, dated Oct. 26 1896
supplies the following data as to in
dustrial and trade conditions in Tur-
key:
The industries in the Turkish EN-
pire are on the decrease, owing chef
ly to the lack of native capital and
foreign capital being kept
away by unsettled political conditions.
A few factories exist in Constanti-
nople, viz, factories for cotton cloth,
for felt hats and caps, and for boots
and shoes, all owned by the govern
ment. Factories belonging to private
individuals, under limited and priv
ilcged concessions. are; Ice factory,
glass factory, brewery, paper mills.
cotton yarn factory, and tobacco
factory, the latter being administered
by the Ottoman Tobacco Monopoly
company. There are also several flour
mills and tanneries.
IMPORTS AND EXPORTS.
The rate of duty on imports is
per cent ad valorem, and ! per cent.
ad valorem on exports. The only Of
fetal statistics on the imports and eX-
ports at Constantnople are published
by the Turkish custom house and COW
er the period of the Turkish financial
year, ended on March II. The last
statistics published are for the year
ended March ~, 1893 1t is impossi-
BILE, says MIR. Short, to obtain any
general statistics from any unofficial
source. A marked decrease both in
imports and exports is observed since
last year, and this decrease is contin-
uous, owing to the anomalous condi-
tion of affairs in Asiatic Turkey and
to the recent disturbances in Constan-
tinople.
There are no changes in currency
nor in the United States gold value
of the monetary unit. The rate of eX-
change has increased about per cent.
The actual amount of currency in cir
culation is not known.
There are no marked changes in the
price of commodities, the rates con-
tinuing almost the same. The only
marked rise has been in the grain
market, the price of wheat having gone
up so per cent. The price of bread has
gone up 25 per cent.
TAXES.
There are no new municipal taxes,
octroi duties, etc, which bear upon
American trade. The only octroi duties
which affect American goods are those
paid for storage, which petroleum is
obliged to pay. The stores were built
several years ago on the banks of
the upper Bosphorus, and all petro-
leum merchants are required to keep
their petroleum there and bring it to
town in iron boats or tanks construct
ed for this purpose. Only a small
quantity is allowed to be stored in
the stores in the capital. The duty
paid for storage is cents per case
for the first month and an additional
charge of one-half cent for every 9TH
er month; also a charge of 4 cents per
case for transport to town.
The actual means of communication
with the United States are by steam
crs from Constantinople to Liverpool,
Marscilles, Havrc, Genoa, and Ham
burg. The goods on reaching said
ports are transhipped to the ports of
destination in the United States. The
time occupied in transit is about a
month or forty days. The rates of
freight to the United States are not
excessive, being from $4.37 to $4.S6 per
ton dead weight, and from $+.13 to $4.37
per 40 cubic feet measurement.
SPECULATION.
The cause Of the financial prostra
tiOn which has perVadeG business cir
cles in Constantinople, says Consul
General Short, is the incalculabla and
unwise speculation in government
stocks, bonds. and private shares of
all descriptions. most of which were
issued by the leading bank of the en-
pire-the Imperial Ottoman Bank-an
institution with foreign capital, but
governed under the Turkish laws and
amendable to the Turkish tribunals
and jurisdiction established under
special imperial decree. This bank is
the only one which has the privilege of
issuing bank notes to the amount of
about 5000, 900, payable in gold on de-
nldnu, Inc Ddilh GIlCOuTdBtu SIHCuld-
tiOn and induced the people to engage
in it heedlessly. Even women We're
speculating. The reaction was not
long in coming. There was a rush on
the bank and il could not cash the
bank notes, as the shares We're going
down and the bank was obliged to SELL
The only means of salvation was a
moratorium, and this was obtained
from the Turkish government by the
directors general of the bank, Sir Edgar
Vincent, an Englishman. The mora
torium was for four months, and the
bank was saved; it's position, however
is not the same now as ii was before
the moratorium. The crisis in the
market began and was in full force
during the political disturbances of last
year, and the massacres of a. few
months ago brought the financial con-
dition to the present acute and cul-
minating point, diminishing the re-
venue of the empire very considerably.
TRADE CHANCES GOOD.
The prospect for introducing Ameri-
can products. Mr.. Short thinks, Is very
good, but efficient agents, familiar
with the language and customs of the
country should be appointed, and at
tention should be paid to the credit
system of the country.