AT THE LOWEST EBB

Evening Post, Volume CIX, Issue 44, 21 February 1930, Page 10

AT THE LOWEST EBB

EMPIRE TRADING URGED

POSITION OF SHIPPING

United I'ress Association—By - Electric Tele-

eraph—CopjriElu.

(deceived 21st February, 2.30 p.m.)

LONDON, 20th February

In his presidential address at the meeting of the Chamber of Shipping Sir Arthur Sutherland said that, the fortunes of the shipping industry, were seen at their lowest ebb. Freights were actually below the pre-war level, while working costs were about 70 per cent, above pre-war. The speaker instanced the freight from Australia which a year ago, 37s (id a ton, was now barely 22s 6d, ,of which port charges, loading, and discharging expenses absorb 13s 3d, leaving the shipowners with 9s Id for a sea carriage of 11,055 miles, equal to a penny a ton per hundred miles. "You could not run a Baby Austin ■, car at anything like such a low.cost," ho said. "The shipowners, however, do not despair, feeling sure that the dark clouds will disperse, and there will be some recovery this year." The meeting passed a resolution welcoming the calling of the Imperial Conference as offering an opportunity of a strong combined effort on the part of all members of the British Commonwealth of Nations to develop the Empire 's trade resources by. increasing the production and exchange of goods and services within the Empire, holding that more systematic methods were required to attain this object to the fullest extent' as quickly as possible, and the Governments of the Empire should beAuged to create the necessary machinery to this end.