TURKEY: The End?

A report from Angora, capital of the Turkish Republic, stated that the Turkish Commissioner of Works had annulled the famed Chester Concession (TIME, Nov. 19). No reasons were given, but the event was not altogether unexpected.

In the U. S., Horace G. Knowles, former U. S. Minister to Rumania, counsel for the Chester group, known as the Ottoman-American Development Company, stated that no official notice had been received from the Turkish Government and he believed that only one section had been lost to American interests.

Mr. Knowles also announced that a London banking concern, with a capital of $21,750,000, had been formed primarily to develop the first project which had been abandoned by the Ottoman-American Company and that the entire Chester Concession might eventually pass under its control should the company be unable to raise capital in the U. S.