SHIPPING PROFITS.

Dominion, Volume 2, Issue 475, 6 April 1909, Page 5

SHIPPING PROFITS.

GERMAN SHRINKAGE. THE TRANS-ATLANTIC SLUMP. A COMPARISON. (BY TBI.EGIUrjI—MESS ASSOCIATION— COPYRIGHT.) Berlin, April 4. The North Gorman Lloyd Compaiiy reports that tho unprecedented falling-ofF in the number of immigrants to the United States, the depression in trade, and tho freight wars hnvo resulted in a reduction of the surplus to 9,218,000 marks (about £460,000), against 32,097,000 (about £1,630,000) at tho end of 1907. The Company will bo obliged to draw on its entire reserve and renewal funds in order to carry out tho necessary writing-off operations.

PASSENGERS DECREASE NEARLY ONE LOSS SIX MILLIONS STERLING. It was understood somo time ago that tho North German Lloyd and tlio other big German shipping company, the Hamburg-Ameri-can, would declare no dividend owing to tho trans-Atlantic slump. The competition of the big Cunarders, Lusitania and Mauretania, was partly blamed. Statistics of Atlantic passenger traffic show a decrease of 940,000 passengers last y ra a nnn'nnn a T. ftU ia ™ v « nuo calculated at about .£6,000,000. For proltably the first time 'more people travelled from tho United States to Europe than vice versa. Tho financial panic in the United States was, of course, lareelv responsible. The following are tho details u P to December 24 last for all classes. Tho only increase, it will bo noted, is in east-bound steerago traffic:— First Cabin. _ , , 1908. Decrease from 1907. West bound... 9-1,836 13,06!) East bound ... 93,016 7,270 Total • ... 187,912 20,339 ■ Second Cabin. West bound... 164,977 61 700 East bound ... 105,531 2,123 Total ... 270,511 63,823 Steerage. West bound... 400,807 963,881 East bound ... 657,931 107,886 (increase) Total ... 1,058,738 855,995 These figures cover traffic from and to Mediterranean as well as Northern European ports An enormous proportion of tho east-bound steerage passengers returned to countries like Italy and Austria-Hungary. An estimate of the loss m all classes may fairly be given as iollows: —■ First Cabin. ' 20,339 passongers at .£2O JM06.780 Second Cabin. 63,823 passengers at .£lO Ste»rage. 855,995 passengers at .£6 £5,135,970 ' ' .£6,180,980 This loss is distributed over all the companies, engaged in the trade between Europe and America. The list includes the C.inard (which is understood to have gained rather than firt wJf° <*? 1 matter'of.passenger trnf . he), White Star, American. Lino, HamburgAmerican, North German Lloyd, French Traiil atlanhc, Holland-American, Red Star, Atlantic Transport, Anchor, Leylaud, Allan, and the Tfl'Z purely Mediterranean lines. It does not follow that every one of these lines Iγ ffi Th th ° €xtcnt , of its °™ feline in traffic, for the reason that under the arrange Atlantic traffic is pooled.