Let Wp denote the space of all
functions on the circle which are the uniform limit of a sequence of trigonometric
polynomials which is bounded as a sequence of multipliers for lp,1 ≦ p ≦ 2. Let Us
be the interpolation space [W2,W1]s (see 1.1). Our main result, Theorem 2.4, states
that for a compact subset E of the circle, Us|E = C(E) if and only if WI|E = C(E).
A major step in the proof is a maximum principle for interpolation, Theorem 1.7. We
also give a direct proof that Us≠Wp (see Theorem 2.7) for corresponding s and
p.