Harriman Out

The Soviet Bureau of Foreign Concessions announced at Moscow last week the amicable termination after three years of the 22 year manganese concession let to W. A. Harriman & Co., Inc., of Manhattan. (TIME, June 22, 1925.)

The capital sum of $3,500,000 spent by the concessionaires will now be regarded as a loan, it was announced, and will be repaid as such by the Soviet Government. Thus would seem to end the largest incursion of U.S. business into Soviet Russia, an incursion from which profits of $120,000,000 were once prophesied.