Turkey Seeks Loan From Bankers Here.

New York Times 100 years ago today, October 11, 1912:
Has Made Preliminary Tenders for Floating a Bond Issue of $50,000,000.
SOUND MORGAN AND OTHERS
Same Group Concerned in Chinese Project — Viewed as Possible Influence for Peace.
    The Turkish Government has made preliminary tenders looking to the flotation of a loan of $50,000,000 in this country. The negotiations have not made much progress, and there is no assurance that the American bankers will look with favor upon a proposition to finance a country which has as many difficulties as Turkey, but developments may make it possible for the same group of New York institutions which has played such an important part in the financing of China to take a large part or all of the new Turkish loan.
    The Chinese group is made up of J. P. Morgan & Co., the National City Bank, First National Bank, and Kuhn, Loeb & Co. A representative of one of these institutions yesterday said emphatically that his house would not participate in a Turkish loan. At the other banks it was said that the matter had not gone beyond the inquiry stage, and that it might end there.
    An interesting suggestion made in connection with the Turkish overtures was that the proposed loan might be made the means for effecting peace in the Balkans. It was said that Turkey might be prevailed upon to provide for her interior development and other financial needs on a large scale, and to grant concessions to the smaller States in return for the assistance of the powers. The American group would then take a large share of any international loans which might be effected on Turkey's account.
    The Turks have made overtures here for money before, but without success. Some months ago an American syndicate was organized for the purpose of building railroads in Turkey. Concessions had been obtained for a line from the Black Sea to the Mediterranean and another line across Asia Minor to the Persian border, but the terms fixed by the Young Turks proved onerous, and the entire project, which would have involved an outlay of about $30,000,000 for construction and equipment, fell through. In the Fall of 1910 the Turkish Government succeeded in inducing a powerful group of bankers, headed by the Deutsche Bank, to take an issue of $31,500.000 4 per cent. bonds at 84. These bonds are secured by the customs revenues at Constantinople.

WILL FIGHT IF THEY MUST.
Turkish Ambassador Thus Gives His People's Views to The Times.
    Youssouf Zia Pasha, the Turkish Ambassador to the United States, who is staying at the Ritz-Carlton, talked to a Times reporter yesterday of the trouble between his country and the Balkan States. He said that Turkey had been doing its best to prevent the war, but if it was inevitable Turkey would win without difficulty. But Turkey, he thought, would not annex the defeated States, because she had no ambition to "steal" any part of the globe.
    "Montenegro already has declared war against Turkey, and skirmish fighting issuing on between the Balkan States and the Turks, but I don't think the general war will be fought between them," said the Ambassador. "The war between the Balkan States and Turkey may lead to a general war among the European powers. They do not want to add another trouble to those they already have, and before the general war is fought between the Balkan States and Turkey the powers will come to the front and intervene. Turkey, at the same time, has no desire to fight. The European powers and Turkey are anxious to maintain peace in the Balkan States."
    The Ambassador was asked how far Turkey would refrain from fighting.
    "As far as possible, Turkey desires peace," he declared, "but Turkey cannot see her border crossed and her citizens butchered by foreign armies. This is the reason why Turkey is reluctantly preparing for war. We are not a bit anxious to fight, but if we are compelled to do so we will not run away. If the Balkan States are determined on war with Turkey the Turkish army will be compelled to teach them a lesson. The Turkish army, as the whole world knows, is well drilled, and both officers and soldiers are good fighters. I have no doubt that the conqueror in a war between the Balkan States and Turkey would be the latter."
    "What would Turkey do with the Balkan States after they were conquered? Would Turkey annex them?" he was asked.
    "No, I don't think so," said the Ambassador. "Turkey is not anxious to annex foreign territory. Her Empire is vast enough. If war between the Peninsula States and Turkey was fought and won by us another international conference would be called and the European powers would help to solve the Balkan questions. The danger is here: No European power desires to fight, but the powers will seek their own interests first, and they may not agree with one another. Then God only knows!
    "We have had small internal troubles. Some foreign observers thought the Turks would not unite against a foreign country. This has been proved to be a mistake. The Albanians, whose loyalty to Turkey was doubted by some foreign critics, are not less loyal than any other Turks. To cite an example: The Boston Albanians held a mass meeting a few days ago, and pledged their support to the Sultan.
    "There is one thing which makes me feel uneasy. The American people are broad-minded and they wish us well, but I am sorry to say that there are some newspapers in this country that misinform the American people about Turkish affairs. Some of these newspapers tried to give the impression to the Americans that the Turks were cruel to the Christians. I do not know a single case in which there has been a trace of Governmental policy to do any harm to the Christians in the Ottoman Empire. There have been quarrels between the Mohamedans and the Christians where the Mohamedans have treated the Christians rather roughly. Every one knows that the Turkish Government did not take the side of the Mohamedans when they were wrong, but some newspapers made it appear as if the Turkish Government was trying to drive the Christians out of the Ottoman Empire. I sincerely hope that the American people will not be misinformed this time, if this threatened war is fought."
    The meeting of the Boston Albanians mentioned by the Ambassador, was held last Sunday night, and regarding it the Turkish Embassy at Washington received the following telegram:

    National Albanians, from all parts of New England, mostly Christians, held in Phoenix Hall, Boston, a night meeting, at which, amid scenes of great enthusiasm, they passed a resolution offering the expression of most sincere loyalty to the Sultan, and advising the people of Albania to stand as one man by the Imperial Government. Thousands of volunteers are preparing to join the Ottoman Army, which will doubtless give the enemies of the empire a sharp and memorable lesson. Please request his imperial Majesty's Government to spread these resolutions in Albania.

    Faik Bey, President of the Albanian Nationalists of Boston, is traveling in the Eastern States to arouse patriotism among the Ottoman citizens. He is planning to hold a mass meeting soon, either in New York or Boston.
    The Turkish consulate in this city has received many letters and telegrams from the Ottoman citizens in New York and elsewhere, requesting that they be allowed to go home as volunteers. Many Ottoman Jews are among those who have sent in such requests.