LONDON & THE QUESTION OF IMPORTS

Dominion, Volume 9, Issue 2600, 23 October 1915, Page 14

LONDON & THE QUESTION OF IMPORTS

THE WAR AND ITS EFFECTS " (BY J. G. BROODBANK.) (Chairman of tho Dock and Warehouse Committee, Port of London Authority.) Members of the community who may ba depressed by the retirement of the Russians from Poland will find all effective tonic in -walking round the docks and quays of the Thames, and viewing the lrugo cargoes of merchandise accumulating there. Some of this merchandise has been brought into the country for tho campaign, some is only a diversion of business from Southampton and Newhaven. But a large proportion represents tho silent captures of our Navy from great German ports—captures which made no figure in our bulletins, but which nevertheless aro a far more deadly blow to the German resources and prestige—both present Mid future—than the temporary abandonment of Polish, territory can be to the Allies. It would serve a patriotic purpose if the War Office could relax its strict rules in regard to the taking of photographs iii the docks, and let the illustrated papers publish them so that those journals may not be under (!ie necessity of occupying so many pages' with fleeting enemy triumphs at Warsaw. Whatever success tlio persistent prophets of pessimism may hope to obtain in the country generally it is not difficult to foretell that their efforts will fail when they address the Thames waterside workers who daily see these tilings.

Tho result of the year's war on the Port of London may be summed up by ,Baying that there has been a continuous crescendo in the trade which has not yet reached its climax, and that thero is no indication that when the climax 'is reached thero will be any subsequent diminution of volume. Tlio chief questions are as to the accommodation and handling of the trade, and though in common with all tlier organisations the Port of London Authority suffer from tho interference which tho war has caused in obtaining materials and getting construction work done, they hope they are with the help of tho patienco of traders fairly meeting the exacting situation.

As regards shipping, thero have been practically no detentions of vessels at Gravoscnd for some weeks until the 1 last week when a few vessels have been kept thero. These have chiefly been timber-laden vessels. Suoh detention is not unusual in August, which is the middle of the season for timber arrivals. Not too much stress must, however, bo laid_ on tho immunity from detention during July aud August, as these two months are normally the slackest of the year for trade generally. Fortunately there has just been an important accession to our accommodation by tho reopening of the East _ India Import Dock after its reconstruction, giving us eicht piore berths and direct access to its warehouses by water. Two Amorican steamers have already commenced discharge at these new berths.'

The articles which have been prominent by reason of tlieir • abundance, happen to he those in which the peoplo aro tho' most interested, viz., grain, meat, and wool. The handling of wool lias caused considerable anxiety. For the first seven months of this vear the imports into London were 255,000 tons (about 1,500,000 bales) against 161,000 tons in ilie same period of 1914. An excess of 94,000 tons of goods does not ordinarily produco complications in tho l'ont of London, but wool is not an ordinary import in its relation to the warehousekeeper. Most of this wool has been sold in London. Every sold bale has to be brought up to the London Docks or to the private wool warehouses, then to be, opened, laid out for inspection for buyers and sewn up again. Owing to the great delays in clearances by buyers somo of the wool has had to be removed back to the lower docks for delivery so as to prevent th® show .floors being blocked against tho following sales. What complaints and troubles there have been result from these.'delays in clearances. To-day upwards of 200,000 bales aro in tho Authority's premises alone, but matters havo recently been so straightened out tliat no dilliculty is anticipated with tho series of sales which commenced on October 7. Meanwhile will the pessimists note that the value of the increased arrivals of wool in the seven months (which practically represents diversions from the enemy) is about £12,000,000. There has been a heavy increase in the imports of grain, the liguros for tho pert for the seven months being 1,422,000 tons, as against I,lß3,ooo'tons last year. Oats for Annj purposes account for some of the increase, but tho more important item of wheat also shows an increase in receipts, whilst the Port Authority's stocks of wheat are three times as large as they were when the war began. Indian wheat has been arriving in large quantities, and with the fine American harvest there is the certainty of ample supplies for the country. It is no surprise in these circumstances to find the price of wheat falling, though the high rates of freights caused by war conditions must always tend to prevent prices falling to normal level. .

One of the features in connection with meat lias been, a greater importation of frozen meat and a lesser importation of chilled beef. On balance, the total im- | ports into London show an increase for the first seven months of this year of I 22,000 tons, whilst the latest returns shoir that the shipments of meat to the United Kingdom from July 1 to August 31 have increased by 84,000 tons. This is a satisfactory state of things, especially having regard to the fact that Franco, which before the war shut her cloors "to frozen mo&tj is now importing considerable _ quantities direct from South America for feeding her troops. The demand for meat is creating fresli sources; of supply. South Africa has begun to export frozen beef to London. Madagascar lias sent a consignment to Liverpool, and we even hear of China exporting meat. Stocks have been high for many months, and have taxed the capacity of all tho cold stores in London . Provisions, especially in the form of canned goods, have been imported in enormous quantities. Canned goods and colonial ■ cheeso have coma largely for Army purposes. About two months 'ago the Government suddenly ceased buying choose, and this has caused stocks to accumulate in London. One effect of higher prices for cheese has been that the American article is entering the market again. Bacon from Canada and the United Stat.es has come in abundance. It is largely wanted by the troops and the Navy. Another reason why the price remains high is the increased demand by tho workers with their larger spending powers. Timber coming largely from tho war area was at first the subject of concern. Tliero is no longer any need for anxiety oil this account. Many vessels are arriving from Sweden and Archangol, and tho statement made above as to the detentions of timber ships at Gravesend is tho surest indication that the supplies are not likely to fail. The Archangel boats are all largo onos, some of them carrying as much as 2000 standards (5000 tons) of timber. Improvements of Archangel harbour niado siuco the war have made this practicable. Not unexpectedly hardwood such as is used in furniture shows a decrease, but tho early part of 1914 was an extraordinary year for imports. Tho stocks in the Surrey docks of soft-wood timber on Saptem.ber 1 wore 220,0(10 tons, and are iha higlieofc for jb&ajisp- isSr )s&P"

been sinco tho Port Authority was established in 1909, though tho total imports into tho port for tlio seven months show a small decrease. With a serious roduotion in tho number of deal porters owing to oue-third of them having enlisted, thero is bound to be congestion for some weeks. The general slump in tlio building trade is partly responsible for tho larger slocks. From the national point of view ttoase larger stocks are reassuring. Spaco is not available for moro than tho mention of other articles. Toa in seven months has increased from 69,000 to 89,000 tons, and a continuance of heavy importations is anticipated, but instructed opinion- does not think there will be much congestion in London as tea is much wanted at home and abroad, and any excess stack should not unduly embarrass warchonsekeepers. Should the Petrograd exchange rate bo adjusted Russia would take increased shipments. Coffeo is coming to London as it has not done for many years and stocks are up by 40 percent. The inaccessibility of Hamburg and tlio var business of Havre probably explain this. During tho last month 10,000 puncheons of rum (about 1,000,000 gallons) were landed in the West India Dock. This is live times the average quantity, and the largest quantity ever imported in one mouth. The bottling of rum for the troops is still proceeding, though in reduced quantities during tho summer months. Champagne is being sent to the Loudon Docks for certain operations to be performed, as labour in France for this purpose is scarce. Tho loss of Smyrna as a source, of supplies is leading to a scarcity of Turkey carpets and dried fruit. India is imitating the carpets at one-third of the price, while tho Caps and California. will provide the dried fruit. The arrangements for the importations of sugar by the Itoyal Commission aro being so made that tho congestion of last winter will be avoided. Plenty of sugar is available. There is one point in tho present position whore the recent changes ill the constitution of tlio port liavo been of distinct benefit to traders. For many years warehousing accommodation in the Port of London has been in excess of the requirements, with the result that .tlio business has not been a profitable one. If the old regime had continued it would have been natural and not j unreasonable that the dock companies | should have availed themselves of the present opportunity and liavo raised charges in order to compensate thorndelves for the many lean years of tho past. Tho Port Authority has no such inducement to exploit tho situation. It is not working ior dividends and only needs to oarn its interest and to. put a sufficient' sum into the llesorve Fund I which lias been created under the Port of London Act. Traders have therefore only been asked to pay increased charges during the war to tho extent to which the expenditure has been increased by the war. \ There is the further advantage that even though a trader's business in tho port may not be carried on in the Authority's docks or warehouses, the prices of operations in the whole port aro regulated by the Authority's tariff. London is the greatest importing port in the world, and those responsible for tho administration of the Port of London must bo interested in the proposal to check tho entry of goods into this country. The wisdom of such a step can only bo judged by tho highest economical and financial authorities, who it is certain will not lose sight of the conditions which differentiate this country, and especially London, from countries where imports and exports are merely a simple question of exchange of goods with foroign countries. Tho entrepot trade of London involves much more than the service of merely redistributing foroign produce from <v con--

renient centre. London is largely the proprietor of tho produce it imports, it provides tho secure housing, tlio market, tlio linancial machine, and tho insuranco facilities connected with tho produco, <rad tho commercial wealth of London is ha-secl upon blie multitudinous and profitable transactions connected with tiieso operations. Whilst everything must yield to the paramount object of winning the campaign, tho position of London in this respect will not, it is hoped, be lightly endangered. International markets are tho growth of centuries, and are not easily displaced. Onco gone, they aro only recovered with difficulty. Nor will it bo overlooked that except war material the vast mass of imports reaches, us from our own overseas possessions, l'rom our Allies or from estates owned by British capital in noutral countries, and that for all practical purposes wo are as selfcontained as the enemy boasts ho is.