THE HONGKONG DAILY PRESS. TUESDAY, APRIL 6TH, 19m.
DODWELL & COMPANY.LD ROMANCE OF THE SEAS.
8.8.
STEAMSHIP SERVICES.
Regular Safi
to
NEW ZORK &/OR BOSTON
via Sies or Panama Canals at Owners' Option EGREMONT CANTLE"> walling on or about 6th April
LLOYD TRIESTINO
For BRINDISL VENICE & TRIESTE. Taking Cargo on through Blis of Lading for LEVÄNT, BLÁOK SKA ♣ DANUSE
SPORTS.
i
FIUME having been re-opened for trafic, ergo is also accepted for this port on through B/Lading
8.8. "TRIESTE "
8.8.
**PERSIA
Fox SHANGHAI
3.8 "PERSIA
selling on or about April #ind. salking on or about May 19th..
”སྐ་ ་་་་
& JAPAN..
sailing on or about 19th April.
Passengers" Luggage can be insured at the Offs of the Agents,
NANYO YUSEN KAISHA. Ltd.
(SOUTH SEA MAIL: 88.00).
Regular Services between
JAPAN, HONGKONG & JAVA.
FOR JAYA,
8.S. "CHERIBON MARU” 'sailing or or about 9th April
FOR JAPAN
OCEAN, TRANSPORT Co.,
(FAIYO KATUN KAISHA) Steamakty Service Frans-Pacific.
Also to Australia, Europe, etc.
NATAL LINE
Ltd.
OF STEAMERS.
TAXING Cargo an through Bills of Lading for SOUTH AFRICAN - PORTE with transhipmen at CALCUTTA,
In conjunction with the
INDO CHINA STEAM NAVIGATION - CO. 4. LTD.
AND APUAB LINES.
for Freight of Fassage on any of the above Lines apply to
DODWELL & 00., LED,
N. Y. K.
NIPPON YUSEN KAISHA
KAFETERS YEON HONGKONG' SURTIUS TO AKTERATich.
THE SUCOESS OF THE SHIPPING MINISTRY...
£29,300,000 GAINED"
PROFITS AND WAGES, EFFECT OF OHANGING PRICES.
Continuing the Newmarch Lectures, last month, at the University College, Sir Josiah Stamp dealt with the effect of changes in price level upon profits and wages. He said that the body of statis- tical data for pan experienco was dit- ficult to handle, and that the present situation: was so different in degres that results drawn from experience must be 58,800,000 applied with caution. It could be shown 47,600,000 that during the gradual rise sines 1996
The London Daily Bapress vteently and nounced the final figures of the shipbuild- ing account of the Shipping - Ministry I as follows ***
Total of ships built in the
United Kingdom There ships were sold for
Profit
Total cost of ships
abroad These ships were sold for
owners.
built
Prout 2,300,000
Saved£27,000,000
VOLOSSAL FEAT,
INDOCHINA
STEAM NAVIGATION COMPANY LIMITED
SAILINGS SUBJECT TO ALTERATION
STRAFTS & CALOUTTA F.PHONG T ROIHOW SHANGHAI & THINOTAU via SWATOW BANGKOK via SWATOW... MANILA TIEN 18IN KORE via BHANGILAT SHANGHAI
SHANGHAI
***
**
áth Apr., - 3 11.
6th Apr. 9 am
CHAKSANG"...Tues, "LOKSANG* ...Wed. "WINGSANG. Thura, 7th Apr., Dlight
OBUNSANG...Fr
8th Apr., Dighs YUENSANG Fri., 8th Apr. 3 pm CHEONGSHING" Sun, 10th Apr, Dlight
·FDOESANG* · Mon. 11th Ápr. Noon. TUNGSHING" Mon, 11th Apr Hoon "KWONGSANG Tues., 12th Apr., D'light
changes in prices wore much more power. £11,000,000 | ful than changes in output in affecting profits immediately, but not ultimately. On the whole, in times of rising prices, £27,000,000 | increases of profts had been made quer 18,500,000 and above the amount that would arise
upon the increased output that such CALCUTTA LINE This Ling Affords regular calling to Calcatta, Penang and £8,500,000 prices induced, but the additional profit was not usually much greater in propor- tion than the rise in price if the period taken was not less than a year.
£2,300,000
The Ministry will come to an end on Atarch 31st with this financial record to its credit.
Bingapore; returning from Calentin steamers proceed via Strait and Hongkong to Japan, occasionally calling si Bhanghal All steamers have excellent passenger adocumodati Asted with Electric Light and Fans and carry a fully-umalified
Reviewing the experience of the last SHANGHAI LINE-Ballings forty years, during the fret period, when
approximately every five days between Canbon and Shanghal, sometimes calling at Swatow. Through tlakabı akış be obtained and through Bill of Lading ars isend, no ni? Northern and Yangtan Ports via Shanghal.
LINE.—A weekly service is maintained with Manila by vessela with good
pasangor accommodation, s«llinge farm both parts wwory Triday. Ballings approximately weekly for passengers and cargo calling at Hoihow when inducement offers.
LINE:
Net profit co total transac
tion. In addition to this prost the use of the vessels by the State for the carringe of goods and troops is estimated to have saved the country £27,000,000, which prices dropped about 9 points per would otherwise have been paid to ship-annum, profits increased by only about
The shipbuilding account of the £5,500,000 per annum, or £4,500,000 less MANILA" Ministry therefore reads:---
than the average increase. Then from 1880 to 1885, when prices dropped about HAIFHONG LINE 1 points per annum, profits increased only £3,500,000 annually.
or nearly BORNEO £8,500,000 below the avenge, but in the period up to the war, when prices in creased nearly 1 points each year, profits The total turnover of the Ministry increased £18,000,000, or £8,000,000 above TIENTSIE -Was £1,000,000,000. It operated the the average. The lecturer said that the, largest carrying fleet which the world average of all the incomes in excess of has ever seen under a single bead-4 | £160 per annum had fluctuated from 1860 fleet compared to which the greatest to 1914 within moderate limits, and was fleets of history sink into insignificance at its highest in 1873 and lowest about and at the critical period of the war 1803, but the average of real incomes, it had under its control three-quarters after taking purchasing power into ac of the world's shipping. The figures count, had actuated but little, for it given above show in an undeniable form was about the same in 1914 as in 1500 and how this colossal feat of management 1874. has been carried to a triumphant sue
...
CeBa
mennco.
"
In the case of wages, in the thirty-five The Ministry was
brought in existence years up to the war there had been a by Mr. Lloyd George's Government inrise of about 1 per cent. per annum both 1917, when U boats were becoming a grave in actual wages and in real wages. The greater part of the advance seemed at The Shipping Controller ordered alto first sight to have taken place in the gether 1 vessels to bo huilt. Every ship latter part of the time, for the first yard in the Allied or neutral world was fifteen years gave a 10 per cent increase called upon for its quota. Even the in nominal wages, and 20 per cent. had But this apparent. romantic East, chiefly famed for the junk, been gained since. contributed, and Japan and China agreed effect was offset by the rise in prices. to build British Government bottoms and the gain in real wages had nearly About 225 of these were completed and all heen obtained by 1000, since when operating before the date of the armistice. real wages up to the war had not appre Of, the remainder, 126 were cancelled at ciably advanced, for the increase in a cost of £500,000, while 279 were trans money wages had just kept pace with the ferred to private owners before comple-cost of living. The position had been tion without either profit or losa. A few considerably modified during the war, of the operating feet were sunk or trans and in many cases, though not as a whole, ferred to the Admiralty, but 379 were increases in wages, instead of lagging be sold to private firms. la addition, 170 hind profits, had tended to precede them. ships were ordered in the United States. The losses to be incurred by industry nearly the whole of which were taken over on a rapid drop in prices were a function by the American Governnient when it of the total stock carried in relation to entered the war
the change took place, and it was quite the turnover in the period over which passible, if a considerable total drop wa How was it dona? By the foresight spread gradually over a period of years, absorb the loan be a moderate reduc ping, of which Bir Joseph Baclay, the Shipping Controller, was the head. He na turnover. Sir Josiah thought that half was assisted by wonderful team of the increase in prices might be got rid nearly a hundred voluntary workers, of in eight or ten years at a cost of a rédaction of about 20 per cent. in the principally shipowners,
The temptation to pour out money like customary rate of profit on turnover. water in the ordering of ships in 1017 was almost irresistible, yet it was resist- ed, and orders were placed on reasonable terras. The actual working control of
with Here the practical shipowning ex perience in the Ministry enabled them to repeat in national affairs the triumphs won in private ownership
The net result of this tremendous trans sution is explained in the figures above
MLADEN VOLUNTARY WORKERS. "
SEATTLE & VICTORIA or VANCOUVER via Manila, Shanghai and resolution of the Ministry of Ship-in in the average percentage of proât
& Japan ports
Cargo to Overland Points U.S. in connection with Great Northern Northern Facile.
and Chicago, Milwaukes & St. Paul Ballways. ⠀ KAKHIMA MARU (omitting Mani)=)
JUWA MARU
FUSHIMI;MÁRU (omitting Manila)...
KATORI MABU "tem
Wednesday, 10th Apr. at 11 am
Friday 6th May, at-11 km. Toonday, 31st May, 11 am. Friday,
17th Jane, at 11 am.
LONDON & ANTWERP vis Singapore, Penang, Colombo, Bues close on 3,000 vessels had then to be dealt
15th Apr, að 11 am. 29th Apr., at 11 am) 12th May, at 11 am. 27th May, at: 13 am,
Port Bald and Marseilles.
KITANO MARU .....
Friday
INABA MABU
Friday,
KAMO MABU
Friday,
IYO MARU
Friday,
HAMBURG, AMSTERDAM, LONDON & BOTTERDAM.
LIVERPOOL & MARSEILLES via dues.
MELBOURNE & SYDNEY via Manila, Zamboanga, Thursda, much as that of 1914. The ery the world
Island, Townsville & Brisbane,
Tuesday,
Tamday, Tuesday,
19th Apr., as 12 km. 17th May, at 11 am. slet Juno, at 11 am.
NIKKO MARU......
AKI HARU
TANGO HARD
NEW YORK vis Buez.
SOUTH AMERICAN POBITS vis CAPE,
KAWAUHT HARD (sailing from Singapore) BOMBAY & COLOMBO via Singapore.
WAKASA MAHU.
Wednesday, 11th day.
Friday,
2nd April
CALCUTTA & BANGOON via Singapore & Peasng.
TOTTORI MARU
RANGOON MARUJA:
JAPAN PORTS IN
AKI MARUK
Wednesday, 6th April. Sunday, 17th April, Kobe & Yokohama.
Trowiny, Krih Apr, 21 11
SHANGHAI, KOBE & YOKOHAMA.
KAMAKURA MARU
DAKAR HARU
IYO MARU
TSUSHIMA MARU
-YAMAGATA HARU
For Earther Information app
Telephone Now: 101 & 203.
Tuesday, 12th April. Wednesday, 18th April. Friday
"15th Apr. (at 11 MIL; Friday, · 15th Aprika
36th April
... Baturday:
TURF OLUB AND EXCESS PROFITS.
An interesting judgment has been given by the full bench of the High Court on the question as to whether the Royal Cal cutta. Turf Club was lichte for assessment Yet, when all this Eas been said, it is under the Excess Profits Act, anys a Cal- cutta message of January 18th. The othing compared to the great crowning matter came up as reference made stroke of business accomplished when the by the Board of Revenue.
The Chief war was at an end. Consider the psi-Justice held that the Turf Club was car- tion the Shipping Controller had to face rying on a business within the meaning st the Armistice!
of the Act in respect of entrance fees to He possessed a great fleet in operation stands, paddocks and enclosures, or gate and a great feet building. The value of money, entrance fees paid by owners of tonnage was gigantic-five times as:
horse, book makers licence fees, and the totalisator percentage. The court found, over was for ships and more ships to therefore, that the club was liable to. Ex repair the losses inflicted by the Germans
cess Profits Duty in respect of the four and to carry food and material.
sources of income already set out in so Manufacturers and financiers alike were
far as the sumy received, under those declaring that the trade of the world would go to the country with the bottoms heads were not paid by members of the
club. to carry it. They cried out that the lack of ships would hamper, our export of goods and curtail the import of food for the people. Every sign and omen seem. The administrator who is thortly to d to point to a prolonged shipping retire with this romance of business be boont. Sir Joseph Maclay was therefore hind him, is hardly a romantic figure, strongly urged on many sides to continue except in so far as itamense success must the operations of the Ministry and take always have about it a certain a'r of fas the growing profits of the national ships cination. into the coffers of the nationtat
He refused this advice. He decided on his own responsibility, trusting his own trained judgment and instinet, that the top of the boom had come. He can celled orders.-- He sold uncompleted ships to private owners. The operating fleet was sold at an average price of from £30 to £30 a ton or five times the price of tonnage in 1914. Tonnage to-day is worth 20 a ton.
How he would have been blamed if the price of freightage had gone up, or kept
NIPPON YUSEN KAISHA steady instead of rushing down'Sir
8. TABUDA, Manager.
PRINCE LINE
THE STEAMSHIP
MOORISH PRINCE"
TO NEWCASTLE (N.S.W) & EUROPE sailing-from-Hongkong on or about 14th APRIL
HAB ACCOMMODATION FOR 12 FIRST-CLASS PASSENGERS:
For rates, etc., apply to
FURNESS (FAR FAST), LTD.
St. George's Building.
£780
Joseph Maolay risked the blame, held to his own opinions, and sayed the nation millions: vande
Sir Joseph Maclay is the son of i Glasgow warehouseman, and went to a shipping office as a clerk. At the age of twenty-eight he began business on his own account, with very limited capital His firm came to own more tramp steamers than any other in the world
But the simple life of the shipping magnate has undergone no niteration, except that he lived in a larger house. He neither drinks ner smokes, and is suspected of Pussyfoot predilections. Like his old friend, Mr. Bonar Law, who entered business in Glasgow at the same time, he has lost two sons in the war. But one has returned from the front to carry on the business
p
The present position in the shipping.
TWO CAREERS. world shows clearly that wisdom is justi Mr. Bonas Law's and Sir Joseph Mac. fied of its children, and the subjoined lay's careers have crossed one another; Egures prove that the present fall 19, one has done better in polities than in prices is of no accidental or temporary busineas, and the other better in business character. The increase in the world's than in politics, tonnage stands to-day at about 10,000,000 But it was the Lord Privy Senl's in
fluence which first brought the Shipping Controller to war management. The That Bir Joseph Maclay made che of appointment was certainly not a political the wisest decisions of any Minister since one, for Bir Joseph in a Manchester Free the war is proved further by the ruinous Trader of the old school, heheving that experience of the United States an individual an alone will pay the State ita
The American Shipping Board is still twee
above that of 19147500
operating. It has a vast, mercantilo・・ It fell to the lot of a man who lives maring in hand. It is enduring immense his life in accordance with the doctrines lenses, and many of its ships are laid up of the Shorter Catechizm, a Presbyterian, in harbour. Great Britain in this matter, dyed in the wool both of profession and at any rate, has been in advance of the practice, to add mister the greatest busi- world. It all Government controls bad news at sea over controlled by single been managed like this the Daily Express individnat, and to save millions for the would have had lem to say aganst Con- Stale. The nation-will be grateful to him for briliant service well performe #50(Continued at fort of next column.).
Ong sailing per month between Hongkong and Sandakan by
1 steamer having up-to-date accommodaidon for passengers, Carga taken on through Bill of Lading for Kandai, Josaniton Labuan, , Tawao and Lahad Datu
LINE: A regular service is run from March to November betweza Hongkong and Tientein, calling an Walhalweland Obstoc
CALCUTTA
LINE.
"CHAKSANG" will be despatched on or about Tuesday, Apr., 5th, 3 p.m., for SINGAPORE, PENANG and CALCUTTA
Through Bills of Lading issued to RANGOON, MADRAS, and
DUTCH EAST INDIES.
· Far Freight or Passage apply te-
TulayTown Ho. 213.
Jardine, Matheson & Co., Ltd.,
GLEN
GENERAL MANAGLES
AAD
SHIRE
Joint Service of Steamers.
U.K.-STRAITS, CHINA & JAPAN SERVICE.
Vessel
5.A. GLENIFFER · 8.8. "GLENGYLE
Vessel
BS. "CARNARVONSHIRE
·OUTWARDS
HOMEWARDS. Leaves Hongkong
24th Apr.
Due Hongkong
14th Apr,
18th April.
Dissbarger ***
Guros, Lonnon à ROTTERYAM,
Movatsattha sro zubļsai to change wishesa nosion, For freight or further paríčcalazs pláss apply tap
Jardine, Matheson & Co., Ltd., The Glen Line, Ltd,, agenta.
Tel No 1 mb. 6 £3, and 3696.
Cable -Addrom
Kawakisan, Kobe.
Bentley's A.RO. 8th Ed.
and Boott's
KAWASAKI
KISEN
(KAWASAKI · STEAMSHIP CO.)
PAID-UP
DAPITAL
Progdant: Mr. T. KAWALAKL Vice-Presidenti Mr. E. Mairikkaza. Managing Dirselors Mr. Masaya, Kai
Baxxamly
1944, 8932,
KAISHA
1,000,000.
The Company has on hand a Large Humber of
NEW CARGO STEAMERS
"ALWAYS READY - FOR
CHARTERS _of_ull desuriykloms,
The following are comprised in the Company's Whochs-m-
Eleven steamers of 9,100 tons each deadweight.
And under the Company's management som „Twenty, steamers of about 9,300 tons deadweight each
Two steamers of about 6,400 tons deadweight esch. “Qalonging to the Kawmaki Dodkynet On. Lát)
Fay Charler Basler and all other parilatiers upply to the-
KAWASAKI KISEN KAISHÄ
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