SHIPS AND SHIPPING.
The following notes are from the Daily Telegraph:-
"Pretorian
passenger accommodation, especially the third clase, repressBZLÍN = 'B' great advance. The
"Hesperian," "Ionian,"
and Grampian,
are to be employed in the Glasgow. section of the Allan Line, sapplementing the mail service from Liverpool, in which the turbines Victorian and Virginian, and the twin and Tanisian," scraw steamera Corsican
Hesperian" and the Grampian" are intended to maintain as are engaged. The speed that will enable the passage between Glasgow and Quebec to be made it less than
a_weet.
a
Past experience proves that there is no such thing as fastity in the size of ships Cour segnolly, when people talk about a steamer 1,000ft long, they are speaking of something which is But there is no particular virius in the length is quite within the range of probability just named, and it is impossible to suppose that there is no stopping place between the new Cunarders, which are just under 800ft, and a versal which shall be at least 200ft longer.
Sonthampton is by no means satisfied with Steamers do not inoresso in length, especially at their present stage, by jumps of 200ft. For being chosen as a torpedo base by the Admiralty, these reasons there need be no surprise that theIts latest smbition is apparently to become White Star Line denies the soft impeachment great entrepot for the coffee trails, and to that it is going to build aron one 1,000ft steamer attract to Southampton a share of the large immediately. It ia contemplating the construc. business in that article which now goes to tion of a very large vessel, and she will probably Hamburg. The proprietors of the docks and bo called the Olympic, but some time may class the managers of the Royal Mail Steam Packet Company bave had the matter under discussion, before the order is given out.
and it is stated that provision had been made for storing in the dock arehouses a million lags of coffee, with more sosommedation to follow se required. Every one will wish well to the effort, because, while Southampton has made romarkable progress as a passenger port, it has rather lagged behind as a centre for the and distribuition of foreign importation produce on as extensive scale. If this endeavour should succeed it obviously opens up consider able prissibilities in respes of other articles besides coffee,
Reduceod to their proper properties, the facts seem to be that the White Star is going to build a bigger vessel, than, the Adriatic for ita Southampton New York serrico, but that she will not have the extrem length suggested. We must therefore, wait a while for the 1,Cooft whir, although Lord Pirrio is quite roudy to produen her, It is common knowledge, indeed, That Messrs. Harland and Wolff have ban preparing berths which will enable vesels con- siderably longer than ony bit) ert constructed to be iarned out. One of these hartha has always been assigned by rumour to a White Star boat, and another to a big ship, intended to be called the Europi, which was to be built for the Hamburg-Amerios Line. But Here Ballin decided, in the present state of the North Atlantic passenger tra, ust to pracnid with hia levisthan, It may be that the same con Bideration is also to somo orint induenced the White Star Line! · ́ ̧.;
These bi berths in the Belfast yard are not the only things which point to the eventual production of the 1,060ft ship. Certain works are proceeding at Southampton in connection with the new dock which clearly anticipate the adrent of vessels of that length. Probally before szok a abip actually appours there will be accommolation for ber and others of the same class at the Hampshire therefore is looking abend, hampton
ns it ought to do. Although there is no immediato prospect that those favourite steamers, the Majestic and the Toutonio, will be superseded in the South- ampton New York servios. it must eventually be their fate to give place to such larger vessels and quite possibly to ateamure whose propelling power will be derived from a combination of the tarbies and the reciprocating engine;
It is worth noting that cuce again an American Ship Subsidy Bill has come to grisf, notwithstanding be parsistent contention of the shipbuilds ad shipowners of the United Slates that some such legislation is required to secure the re-establishment of the foreign-going mercantile.marize. In its way the bill which is now to be dropped was a wild experiment, It proposed to】give a trife of about £80,000 per sunum for the tocouragement of ocean mail servicer. But publie opsion in America has apparently still to bo convinced that it is only by means of subsidies that the Fluited States flag can be developed. People in the middle Statee, in partionlar, do not see why they should pay shipping subsidios when they can get their produce carried cheaply enough under foreign flagu.
THE FOREIGN MERCHANT IN
JAPAN
The Tatce correspondent at Tokyo wrote on April 6th-
The future of the foreign marolant in Japan constituted a topic of interesting comment at a recent macating of the Yokohama Foreign Board of Trade. It may be marked in passant that Future relations of the White Star Line with within the past two years the residents of Japan's Canada are the subjost of a whole erop of premier settlement lave began to display a rumours. According to one account, the two greatly increased measure of public spirit, mainly Dominion liners Alberta aud "Albany," through the medium of a newly-organized Board now building at Belfast, are to be put on the of Trade, which not only int wusts telf actively Canadian route next spring, in conjunction in all matters of general concern, bat his also with a couple of White Bter liners, and are obtained official recognition as the representa to give a service alternately from Liverpool tive of the foreign residents in municipal mat- tera. Long noticeable had been the fact that and Southampton. The suggestion is that the new service represents an arrangement which the foreign community adopted a fuisser aller has been made with the Grand Trunk Rail. demeanour towards public affaire, and that wey of Canada, which is understood always while complaints were often formulated and to have envied the Canadian Pacific Rail-suggestions advanced by correspondents of the way Company ita service of swift Atlantic local newspapers, the isolated character of these steamer But whatever these reports inay utterances and their frequently intemperate tone portend, it is clear that the Canadian Pacific. deprived them of the value they mighbothers
hasa possessed. This state of things has been Company has no intention of being left out in the cold. Sir Thomas Shaughnessy, its presi- remedied by the establishment of the Foreign dent, is expected over her this week, in order to Board of Trade, which includes all nationalities ecmanit with the Imperial Government
value as an investigator and exponent of trade conditions, has established friendly and intimato the latter welcomes sud profits not a little by relations with the Japaness Government so that the board's reports and representations.
ing
THE HONGKONG DAILY PRESS, SATURDAY, MAY 30TH, 1938.
absence of his co-operation, finance her over-sen meet at Mukden one month after the conchu- commerce without detriment to her development ion of the agreement, in other directions ? Capital is her geat want,The royalty to China will be five per cent of She has not enough, to go round, In Hokkaide, the not probards and the lumber tax will not. in Saghalien, in Korea, in Manchuris, and in exceed the rule operative, in the different Formosa, to say unthing of the home islands, regions. The operations are to be conducted great opportunities lie fallow for want of fonds with Chino-Japanese coinl funds for one year, to cultivats thom; and if, in the presence of after which they are to be transferred to a this urgency, she in relieved from the pressure of perspective private concern. having to finance for foreign commerce, she ought to welcome and foster the relief instead of obeying a sentimental inclination to become inde- pendent of it. This phase of the question was eloquently represented at the recent meeting of the Yokohama Foreign Board of Trade by the chairman, Mr. C. V. 8.1, .o enjoys the reputation of being among tao very ablest sod most farseeing merchanta in the East, One passage of his lour and mirable, sprech may be quoted--
The temporary.excesses of floating capital, first due to the indemnity secured from China in 1895-and-later to the-foreign-war.... Ioana had to find some occupation, and were used to give support to the efforts to captare external trade. Now that internal requirements are absorbing so much money, the Japanese capita list finds a higher return within the country.. and the Japanese banker begins to see the us lessness of sacrificing this more profitable busi- ness for the sake of import or export tradere whose means are often too scanty to stand the in- evitable risks of falling markets. Of ocarse, cer- tain long-established and well-managed Japanese boneas will always remain in the trade, but such firms have suffered equally with oursives from the mushroom-like nature of so many recently established concerns. Slowly but surely the difficalties of procuring foreign capital for purely internal affairs. improvements,—–— and industries are being renguized. On the other band it is gradually being appreciated that the large um acessary for carrying on external trade, for- really is the case-bringing the markuts of the world to the gateways of Japan, can always be provided by the foreign merchant who only asks as compensation a just and modera e profit for the actual services raadored. In fact there is no other way in which the much-desired foreign expital can be onred Bo antomatically, so plentifully, and to each good purpose; setting free Japanese capital for use in the field of mach-needed internal develop. ment where the imm-dists results are mere proftable and at the same time of permanent and over fructifying baielit to the nation st larga
What has obiefly given pause to the activity of the Japaneso direct trader" be 18 called when he seeks to dispense with the aid of the resident foreigners-is that last year be had to face constantly falling markets, so that he finds himself now carrying large stocks which cannot be realizel without ins. These stacks are not so great as they were in the previous period of depressior, asren or eight years ago, but they are quite suffleient to suggest that the co-operation of the foreign merchant and the foreign banker is desirable and very comforting.
the future of the company'a zea servicmong its members, sad, in addition to unique of each of the thros graat trading untions of
The Canadian Pacillo, as is well known, is ready to build still faster and larger liners, not on for the service between Liverpool and Canada. but for that between Vancouver and the Far East. In short, Sir Thomas Shaughnessy's view is that the Canadian Pacific route is the only All Red route worth talking about.
Peninsular and Oriental steamers have black halls with a white riband, but the newest addi tion to the company's flest the "Salsette" is 10 be painted white, for the reason that she is to be entirely employed in the tropics. It will be bor business to ran between Aden and Bombay, It is well known that a white en distinguished from a black bull will make all the difference to the temperature of the interior of a ship. The wonder is, therefore, not that the "Salustle" is to be painted white, but that all passenger steamers which trade to tropical countries have not long since abandoned black paint. It is aurious how tradition operates in these matters. It was, for instance, some sixty years after the inception of the Royal Mail Steam Packet Company that the desirability of painting the hulls of the stormers a light colour was officially recognized.
NATIVE RIVALRY,
TRADE. BETWEEN THE BAST IN AND WESTEE NATIONE. Another festure of Mr. Sale's speech which: elicited applause from his audience of experi now too prevalent babit of denouncing all Japs. enced business man was a protest against the naso commercial expansion as a mensos to the commerce of Western nations, and against the competitive devices. In the matter growth of a disposition to associate it with of mere volume, every pound sterling added to Japan's exports during the past decade was met by 26 pounds sterling added to the experts the fccident (England, the United States and Germany); and if we turn to imports, we find
millions in 1897, while from Americs her pur that Japan's purchases from Europe in 1907 amounted to 193 millions sterling, against 9 obases in the sate years were 81.3 millions and 1 2-3 millions respectively. If, then, Japan is expanding commercially, she is, at the same time, contributing her fall share to the expa sion of Western nations. On the other bands, it is not to be denied that, finding herself a struggle with. suddenly fanuched inter experienced and fully-equipped competitors, she has been cocasionally tempted to employ devices value, which, while of doubtful economic furnish material to her orities. Tariffs aud steamship aubsidies, being commonly reported to, the world over, do not justify condemnation, bot cartsin banks, owing to their connexion wish the Treasury, have been enabled to fluance
merchanta the exports of Japanese exceptionally low rates of interest. practice had its origin in Japan's currency needs. Twenty-six years ago, when she was compelled to face the diBenit problem of amassing specie reserve for the redemption of hard-money payments, her only available rmonree was to buy exporters bills with to receive pay. bank-notse at home and ment in cash abroad. With that object the Treasury placed cheap funds at the disposal of the two principal banks, and the
st
This
Last July The Times published in its Financial and Commercial Supplement an article from me..direnssing the fature of the forsigo merchant in Japan, and arriving at the conclusion that his some time great share in the country's oversea commerce is in process of ain on the part of the Japanese middlemen, gradual dimination, owing to very setive intru- who, but unnaturally, conate it an implied reproseb to his competence that he cannot do bis country's business without alios aid. It was pointed out that this desire for indepsudenos bad been stimulated by certain peculiar com- mercial methods which, thongh essential from the foreign mohant's point of view, were irk rome to the Japaus first, as being based on nesamption of native untrustworthinese, and secondly, as sffording opportunities occasionally utilized by foreigners more shrewd than serupa lous. Unfortunately this analysis was read as reflecting upon the ability and morality of the British merobant in particular-on his abiliy because Le allowed his metier lo sip from his Under the Port of London Bill, as introduced grasp, and on his morality because he abused by Mr. Lloyd-George, the new authority will abnormal circumstances. As a matter of fact, the British merchant was not even once referred have noting whatever to do with the lighting of the River Themes. That work will be left into directly from the beginning to the end of the the banda of Trinity Bonse, notwithstand article, and equally, as a mitter of fact, the ing that the Royal Commission recommended British merebant, throughout the history of otherwise. As the bill stands, therefore, the Yokohama, bas never been connected with the shipowners of London will continue to occupy & irregularities referred to. It mug be east with more favourable position than those of the strict truth (hat the general avarage of com Mersey, for instance, for the reason, that the moreial morality is higher among the foreiga cost of lighting the port will still fall on the residents of Yokohama than among any com. general lighthouse funil, whereas Liverpool will manity elsewhere of similar size not specially pay for its own lights. This aspect of the case selected. But it may also be said and this as not escaped the noties of the Stipowners is not merely my own opinion based on over 40 Parliamentary Committee, which has passed a years' experience, it is sleo s conviction which I resolution declaring that. in accordance with have known to be prevalent among the Japanese the practice followed at other large porte, the-that spanking broadly, the British merchant port authority for London should control, and stands is a class by himself, just as the Brition be responsible for the out of the lighthouse Judge does. In point of straight fair dealing, cther nationals contrast rather than compare Bervice of the port. An effort is to be made to give effect to the rosolation by socuring an with him, presuming, of course, that this amendment of the Government's bill. But the applies to the general level, not to the numerous opposition of London shipowners has to be exceptions elevated above it. By the British
merouani, reckoned with, şa
were laid the foundations of ton, Japan's foreign commerce in the Meiji ora, and by him has been bullt a large part of the fine edifice now standing thereon, Yet there is no doubt that he and his able conferee of other nationalities are gradually losing the paramount position they nos occupied in that ommerce. Their native rival is displac ing them. Whether in the last resort, ho utaochico, le, covering over sixty li from the
Yalu basin, The Chuo-Japanese Joint Com Brer, room will not remain for them is a question witish the events of the past few pany engages in full eporations in this district, outside the first distriot and the Hun-he basin. oths have helped to answer. It has always The second distriot concists of the Yain ralley to lemombered that if the parcentage of
Two big craft of an urusant type have lately paid their first visit 10 the Thames. They. are the steamer Iroquoia" and the barge "Navahoe," which between them brought across from New York on their maiden voyaga two enormous cargoes of balk oil,The two vessels are pretty much identical in size and carrying capacity, but the "Ingris" supplies the motive power for both, towing the Navshoo" at a respectful distance. The last-mentioned-1 veesel is the largest ocean-going oil bars in the world, if the form "barge," can be applied to a boat 450ft. long, with half a dozen masts, wireless telegraphy, and other electrin lighting,. important equipments. It took the two vess la some seventeen days to get acrose from Now Fork to the Thames, the Navahoe" helping as far as shy old with her stile. The two ships esmo no great distance up the Thames, otherwise the London public would probably bare displayed a considerable amount of in terest in them,
The new Allac liner "Hesperian," whieb has Just made her trial trips, attained a mean speed of 163 knots over the measured mile at t'kal- morlie, The Hesperian, which is a twin-screw steamer of 10,000 tons, is a sister ship to the Gramplon, bat possesses a number of improve ments, prinsipally in the internal fittings. The
had disappeared. It helped "dir et exporters," orice ocatinned after its immediate necessity and pat a weapon into the hands of Japan's critics, But, for the rest, there are no solid is matter for surprise as well as humiliation Kronade to bring charges against her, and it to read the hysterical ontory raised by some newspaper correspondents and publicists. Nothing could betray magro nervous timidity or less of the justice-loving self reliant spirit which English men aspire to be guided by, Japan must play. her hand for all that it is worth, but she does not use false cards, or ask for anything beyond a fair field, which she is in torn entirely willing to concede to others.
THE YALU FORESTRY.
The negotiations for the Chino-Japanese exploitation of the forests on the Marcharian side of the falu vally, as foreshadowed in the Peking treaty of December, 1905, have been concluded and the agreement was expected to be signed on May 13 or 14, The ares of operations is divided in two districts. The Arst district extends from Macerbaban on the right bank of the main stream of the Yala to Erbshih-
the foreigner's share in the trade la growing In the latter district lumber oporations are to be smaller, the volume of the trade itself increases conducted in socordance with the established in a much greater ratio. To monopolissausage. This means that old nativa operators business of a hundred million yen is five times are to be allowed to contiune their work with as insignificant an operation as t do one-half the funde to be advanced by the Company, and of a trade of a thousand millions. Hence, provided they all their lumber to the Company. The term of agreement is for twenty-fire though the foreign middle man has to be
and may be renewed by mutual coutent with a diminishing proportion, what years
agreement, remains to him is great by contrast with
The capital iz Y. 3,090,000 which is to be what preceded, and there is, moreover, the well-fonuded Lope that his conspicuous busi- equally shared by Japan and China. nces ability will in the meanwhile discover new opportunities of profitable usefulness,
THE YARD OF FOR IGN CAPITAL. These features have been recognized from the first. But recent experiences have intensified another aspect of the problem. Gan Japan afford to dispense with the resident foreign merchant in his role of capitalist? Can she, in the
Tentai of Chins is to be Director-General with As to the personnel, the Eastern Frontier Japanese and Chinese Managing Directors. The head office is to be established in Antang- haien and branch offices in various parts,
The operations are to be inaugurated in thres months after dae ettlement of the regulations by Chinese and Japanese Commissioners, who
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