Evening star., 1921-09-09
BY CONSTANTINE BROWN.

Of Commerce. Now this institution
has grown SO strong that it has suff1-
cient means to have branch in New
York, and is considered the most re-
| liable and one OF the strongest busi-
ness organizations in the near east.
| Quick Growth of U. 8. Colony.
| Three years ago, except for the
Standard Oil Company. the American
Tobacco Company and the American
| Rug Company, scarcely any real
! American firms were represented here.
The few who ventured to come did
very little business and most of them
were represented by local men using
local business methods and systems.
The business of representatives of
large companies like the tobacco COM
pany and the rug company was to ex-
port merchandise from Turkey to the
United States. General trading with
the United States was done mostly
resentatives.
Today the American colony in Con-
stantinople counts more than 1000
members and is second only to the
British colony. The last three years
have opened the eyes of many Ameri-
In the near east and now there is
practically no branch of American
business not represented in Constan-
tinople
The American Foreign Trade Cor
poration, a concern financed chiefly
by the tobacco concerns, was a pio-
neer. It's representatives arrived
soon after the armistice as general
merchants selling everything from
needles to automobiles. They started
throughout the near east wherever
there was the slightest chance Of do
ing business. Political conditions.
| however. compelled them last yea,
| to close most Of their branches.
In the republic of Georgia they
| started by doing excellent business
| through their branches in Batum AMI
| Tifiis. but were compelled to clear out
a. few months before the bolsheviki
arrived. In the Crimea. where they
wrangel's government on barter
! system. they were again compelled to
| close up a few days before the boil
! shevikf arrived. Now they are con-
centrated in Constantinople.
Experience Of American Bank.
!; Only eight months ago the Guar
|anty Trust Company Of New York
for a bank to start business in Con-
stantinople. On account of the polit-
ical situation economic life here is
suspended. There Is only one pos
sibility for people here to make money
and that is in foreign exchange.
Everybody. from the bootblack at the
corner Of Galata bridge to the finance
minister of the country. CANDLES in
foreign exchange. Beside the twenty
| eight English. French. Italian. Dutch.
Greek. German and Rumanian banks.
there are hundreds of so-called ex-
change offices - one-man businesses
The market is almost entirely in the
| hands Of small group of bankers
| who daily fix the price of exchange
In accordance with their own in
English pound. for instance, may go
| ten or fifteen points up or down be-
tween II am. and 4 pm. and small
| fortunes are made and lost daily by
| the gamblers. The position Of a new
bank in such circumstances is natu-
new concern to join the gang Of ex-
change makers. If the new bank re.
| fuses they all try to down it.
In such difficult circumstances. while
there was practically no business. the
| New York concern opened Offices here
and started working on a purely
| American basis. All the officers and
| a large proportion Of the staff are
American. After eight months of
| activity with purely American meth
DDS the company succeeded in obtain
\ ing the foremost position among all
Constantinople banks.
Beside these two strong new busi-
| ness organizations there are now in
constantinople about thirty minor
concerns representing practically all
Though, owing to the present un-
settled political conditions. business
| is slack, they can boast hat all of
| whatever little business there may be
goes to them. British. Italian and
been in this market for more than a
century. see that most of their busi-
| ness is going to the new competitors
why Americans Get Together.
Their increasing numbers here made
the Americans think that the time
had arrived to establish an American
club. Therefore there is now the
American Luncheon Club, where men,
bers gather once week.
1t is more a political than social
organization because of the necessity
for the Americans in Constantinople
to get together. The near east has
has played IN important part in busi-
ness and the prosperity Of various
concerns vas not so much dependent
on their business ability as on their
nationality. Business and concessions
are obtained here more on the strength
| in or outside the straits than on the
| capacity Of fulfilling a contract.
To say that the United states now
leads the business of the world and
that the European powers are hnan-
cially In bad shade. that Americans
are out here for business and nothing
else and that some other powers may
| have territorial aims is considered a
grave offense by representatives. of
| other nations. Some Americans have
been put on the 'black list" Of the
allied intelligence and labeled PRO
Germans" for having made such state
ments.
In such circumstances it In only
natural that Americans here want to
close their ranks, and the fact that in
the present luncheon club and the
| future American club only 100 per
| measure Of self-defense than exclusive
| uess.