The Holbrook news., 1921-05-27
PROMOTE TRADE
 IN NEAR EAST
Aims of the American Chamber of Commerce for the LeVant
 Are Set Forth.
TO OPEN UP IMMENSE FIELD
constantinople Destined to Become the Chicago of Europe" Says New President of organization-oppor-
 tunity for American Capital.

New York.-COnstantinop is des- tined to become the Chicago of Europe" according to an interview authorized by Mir. Lucien Irving Thomas. a director of the Standard Oil company of New York, which con- pany has extensive interests through out Asia and the Balkan states. Mr. Thomas lately returned from visit to Europe. "I learned, while in London, that I had been elected president of the American chamber of commerce for the Levant," said Mir. Thomas. 'I refer to the newly-Organ- ized American section of the chamber, now maintaining headquarters in New York. It will cooperate with the long established chamber of the same name which has its seat in COnstantinOple.
 "The organization of this chamber is timely movement to promote re- ciprocal trade relations between Amer ica and that great area-extending from Egypt to Russia, and from Per sia to Italy-of which Constantinople is the center.
 Gateway to Vast Empires.
 Every few people appreciate that Europe and Asia meet at the feet of Constantinople.p continued Mir. Thom- as "The chain of waters, the Oar danelIes, the Sea of Marmora and the Bosphorus, made available for free commerce, open the gateway to vast empires of populous and fertile terri tories, beyond. When we realize that ! oOncidoroh than twice as large as the United States, has few seaports that are not ice-bOund for the greater part of the year, except those situated on the Black sea, we may imagine what enormous traffic will flow through Con- stantinople when Russia, with a hun dred million of her people nearby, gets into her commercial stride"
 "Then consider Roumania, now with twice her former area-a country of great natural resources, with a pres ent population of 15,OOO.OOO Bulgaria too, noted for a sturdy and indpstri- ous population, has her commercial outlet on the Black sea. And even on the farther side of the Black sea is group of states which eventually must occupy an important place in overAseas trade.
 "Jugo-Slavia, now vast in area by comparison with Old Serbia, with substantial natural resources and population of over 14,000,O00 has, of course, ohe trade outlet via the Adri- atic. and another via the Danube to the Black sea- Without any doubt the Danube is soon to play a much more important part in the trade of the Balkan states than it has ever done in the past.
 Has Natural Wealth.
 Both Jugo-Slavia and Greater Greece will hold a more important trade of the future. Egypt is growing into a land of commercial significance. While certain territories have been detached from Turkey since the war. there remains much fertile and valu- able land. Turkey is rich in minerals of all kinds.
 "The war and its aftermath upset exchange throughout the Near East, and this has made commercial trans actions difficult for the present. But the natural wealth is there; and a population for the most part industri- ous. Trade must surely grow.
 A high official of an International bank. one who is recognized as having unusually broad and accurate knowl- edge of Ottoman financial matters. stated to me at Constantinople that in Turkey fully 65O00.000 in gold is hoarded by the people in 'stocking-leg banks and not deposited at all with the public bankers. In this connec- tion it should be 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 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 op- portunity for the investment of Amer jean capital. in a wide range of en- terprises. One of the great openings of the present is for the construction of dwellings, warehouses. harbor i'm proyements and so forth. Constanti- nople alone has lost 25.OOO to 30.0O0 houses by fire since the war began, and affords magnificent opportunity for housebuilding activity. I kaOw. for a 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. Mod ern industrial equipment, too, is now sought where formerly it was summed. I recall that a long time ago, prior to the coming into power of the Young Turk party, a business cablegram was intercepted by the Turkish authorities because it con- tained an offer to import some cleo tric dynamos capable of 1.500 revolu-