The Tribune was crowing to the rafters about how Sarkis Ismerlian, the failed developer of Bahamar has won a preliminary point in the courts of New York. The China Construction Company is resisting a claim against them for fraud in the New York courts and made the point that Ismerlian is bound to go to arbitration not the courts. Mr. Ismerlian wants the matter in the courts for publicity purposes. The decision in the courts is almost certainly wrong in law and will be appealed most likely. But the failed developer has a promoter in the Tribune. He should go quietly into the good night. The claim is foolish on its face.