TYRANT’S FORTUNE

Greymouth Evening Star, 12 May 1934, Page 10

TYRANT’S FORTUNE

CLAIM TO TURKISH MILLIONS. A British company -with a capital of 7,500,000 Canadian dollars has been formed to prosecute the most astonishing- claim to millions on record. The company has come to an agreement; with the heirs of Sultan Abdul Ha.mil —“Abdul the Damned” —the tyrant who ruled the Turkish Empire for 33 years, and acquired their rights in the enormous fortune of which the Sultan is said to have been wrongfully dispossessed. The title of the company which has undertaken to recover the lost fortune. the Consolidated Eastern Corporation. Limited, state in its circular that. Abdul Hamid is believed to have left a fortune of £100,000,000. The recoverable value of the property is estimated at. roughly £30,000,000, and “as a conservative estimate, afterpayment of all outgoings, percentages, etc., the cornoration should receive not less than £10,000,000.” Shareholders and the heirs of the Sultan —there are more than 100 of these —are to divide the proceeds equally. Negotiation—and perhaps litigation on a grand scale —with, many Governments will be necessary to advance the claims of the Sultan's many heirs.

Th? countries concerned in this light for millions are Britain, France, liuiy, Turkey, Palestine and Greece. Famous international lawyers have been retained by the corporation, and ■it is stated that a case is to be. submitted to the British Government, at the end. of February or early in March. Abdul Hamid, who was deposed in 1009 and died in 1918, is said to have hod vast, estates in many lands to which his heirs are clearly entitled. The Consolidated Eastern Corporation states that the most valuable rights ;:re oil concessions in Irak. There are also, it is said, vast tracts of agricultural kind between the Tigris rnd Eunbrates, as well as rich properties in’ Syria, Palestine, Greece and Tr-no'.i. The recent treaty between E rance ond Turkey concerning Syria estabEshes. according to the corporation, Bio rights of those heirs who remain Turkish nationals. The corporation has informed shareholders that, the deal with the French Government is expected to produce £5.000,000, and that a deal with the Greek Government. should realise £300,b()0 in cash and approximately £ 2,000,000 in bonds.