No. 1088.
Mr. Straus to Mr. Bayard.
Legation of
the United States,
Constantinople, June 8, 1888.
(Received July 9.)
No. 86.]
Sir: I inclose for your consideration a copy of a
note verbale, with inclosure of a regulation
regarding joint-stock companies, received from the Sublime Porte; and
likewise a copy of a note verbale identique, sent in
reply by the different foreign missions, including this legation.
I have, etc.,
[Page 1593]
[Inclosure 1 in No. 86.—Note
verbale.—Translation.]
The ministry of foreign
affair to the legation of the United
States.
Sublime
Porte, Ministry of Foreign
Affairs,
March 13,
1888.
Circular.]
The ministry of foreign affairs has the honor to transmit herewith to the
legation of the United States of America a copy of the regulation
relating to the agencies of foreign joint-stock societies established
within the Empire.
[Inclosure 2 in No.
86.—Translation.]
Regulation concerning the agents of anonymous
societies; that is, joint-stock societies, which, being established
in foreign countries, do business in the Ottoman
dominion.
- Article 1. Joint-stock societies which
have been established in foreign countries can not establish or
appoint any agencies in the Ottoman dominions without having
previously obtained a permit from the Ottoman authorities.
- Art. 2. The joint-stock societies which
wish to obtain the permit shall address their request to the
ministry of commerce.
- Art. 3. The request must be made by the
administrative council of the society or by the board of trustees,
or else by the person invested with that power according to its
statutes; and it is necessary that a copy of the statutes of the
society be annexed to the petition, legalized by the legation upon
which the society is dependent.
- Art. 4. The ministry of commerce will
carefully examine the documents, and if in the statutes there is
nothing contrary to the laws, the public interest, and the public
morals, the petition of the society will be submitted to the Sublime
Porte for instructions, and in accordance with the answer the permit
will be granted.
- Art. 5. In conformity with the
conditions of the preceding article, no agent of any foreign
joint-stock society is allowed to perform any business before having
obtained the permit.
- Art. 6. In accordance with this
regulation, the joint-stock societies which are about obtaining a
permit for their agent to act in their behalf, in order to go
through the formalities, are bound to elect their domicile in the
Ottoman dominions.
- Art. 7. The agencies of joint-stock
societies which have heretofore been recognized by the Ottoman
authorities are exempt from making a request within the time
specified in the present regulation to obtain the requisite permit;
but their representatives, with their capacity and number and their
domicile, must be recorded in the books which will be kept at the
ministry of commerce.
- Art. 8. The ministry of commerce, if it
finds that the constitution of the society is contrary to the laws,
public interest, and public morals, and that the permit will not be
granted, must communicate the fact to the petitioner within three
months from the date of petition.
- Art. 9. If any changes are to be
introduced in the statutes or regulations of a foreign joint-stock
company, or if the agent is disposed to act outside of the
regulations of the society, he must notify within three weeks the
ministry of commerce; and if in those changes there is anything
contrary to the laws of the Government, or the public interest and
morals, the said ministry can within three months refuse to give the
permit.
- Art. 10. If any joint-stock society,
before having obtained the permit from the ministry of commerce,
appoints an agent or representative, he will be at once forbidden
from acting.
- Art. 11. If any society refuses to
submit to the execution of judgments rendered against it, and on
which there is no appeal, its permit will be withdrawn, and the
execution of the judgment will take place in the usual form.
- Art. 12. Every agent of a joint-stock
society will be, by a decision of the ministry of commerce,
forbidden from acting and his place of business closed if in the
course of three months from the publication of the present
regulation he has not, according to article 2, presented his
petition.
- Art. 13. In accordance with this
regulation, the ministry of commerce is charged with seeing whether
the agents of the joint-stock companies are acting according to
the;r statutes or not.
- Art. 14. The ministry of commerce is
charged with the execution of che present regulation.
[Page 1594]
[Inclosure 3 in No. 86.]
The legation of the United
States to the ministry of foreign
affairs.
United
States Legation, June 5,
1888.
Note verbale.]
The legation of the United States has the honor to acknowledge the
receipt of the note of the ministry of foreign affairs, dated March 13,
1888, in regard to a regulation of the joint-stock companies established
or to be established in future in Turkey.
The legation, though acknowledging the usefulness of such a regulation,
regrets to learn that it rests on an entirely inadmissible ground; that
is to say, the previous authorization required by the Government. In the
opinion of this legation, this clause constitutes an encroachment on the
liberty of commerce guarantied by treaties.
Consequently this legation regrets not to be able to give its assistance
to the enforcement against its citizens of the regulation in question
before the Sublime Porte has come to an understanding on this subject
with the United States legation.
