THE NEAR EAST

Otago Witness, Issue 3609, 15 May 1923, Page 18

THE NEAR EAST

SEIZURE Oh BANK FUNDS. CONSTANTINOPLE, -May 7,

Financial circles are disquieted by the Turkish authorities closing the local branch of the Bank of Athens, seizing its funds, two-thirds of which are firench. This action is a reprisal for the Greek Government seizing tne property of Macedonian Moselms. Fearing seizures similar to that in connection with the Bank of Athens, the depositors are withdrawing funds from the other banks. The money market is excited. RESTRICTIONS ON FOREIGNERS. CONSTANTINOPLE, May 8. A serious blow has been delivered to the British export coal trade by a Turkish Government decree prohibiting the supply of foreign coal from depots to ships, also prohibiting the transport trade. The Government has decided to develop the Heraclea and Zougouldak coal basins and to organise a combine of Turkish coal producers. TURKEY AND THE LEAGUE. LAUSANNE, May 10. The Turkish delegates informed the Conference that Turkey would shortly apply for membership of the League of Nations, and would sign the Covenant. It would therefore bo unnecessary to include in the treaty a provision guaranteeing tlie signatories of the commercial clauses of Article 23 of the Covenant.