681
"Believe that the results attained by the
*Shipping rings are highly satisfactory to ship-
-owners but from the Merchant's point of view as
*Importers and Exporters seriously doubt whether
the operations of the Conferences are giving
"satisfaction to all parties interested and are
*Inclined to think that the development of trade
"would be healthier and more profitable without
"such Shipping combinations",
"Are of opinion that the Shipping Rings are
"quite against them being beneficial only to
*those Companies who monopolise the high rate of
"freight*.
With regard to the above statements I would
point out that other firms, British, Continental and Asiatic
engaged in precisely the same branches of Import and Export
trade as those three firms have either expressed no disapproval
of shipping Conference as carried out in the Eastern Trade, or
in some instances have strongly approved of the system. To
quote a few instances one merchant firm writes
"Fixed rates... preferable to the uncertain-
ty of 20 years ago*. *Freights at a payable
"level not oppressive to any one"
Another large exporter of low grade goods
*So long as they act with reason our opinion
is that in Shipping, a "Combine" is in the Long
"run better for us than a cut-throat competition
"which can burst at any moment".
An American Shipping Representative writes
*I think the combinations have gone a long
way