From Seventh to Third.

Horowhenua Chronicle, 20 September 1916, Page 3

From Seventh to Third.

JAIM.WS IV, ACL' I V THE WOULD'.S SHIPPING. Prior to the war. states "Stead's Review." .Japan occupied seventh place oil tile list of tlie world's shipping, but it It s now moved forward to third. her t.v<> leaders being Great Hnta u an 1 I nited States, .'ii order to p •itr-'j'.'i her shipping interests a proposal has been s i>.do to Japa.icse JSeono <''c Inv.sti-jt,-".on Commission, that, .is the lack of interests lias been keenly felt 011 many occasions, the establishment of a shipping bank should be immediately decided upon. Suggestions have been put forward that the bank should provide < capital for prospective shipowners at a low rate of interest, and encourage the replacing of old vessels with new and improved ships; that service should he extended to enable Japanese shippers to exploit now fields of commercial activities, f that companies islioukl also open up new routes other than the subsidised routes, such as the Brazilian service, via Capo Town, or extend farther the Australian and -New Zealand services. That, our eastern ally means business is demonstrated by the fact that the Osaka ironworks has received orders to build steamships to the total tonnage of (50,000 tons a year for five years, commencing 1917, for the Xipuii Steamship Company, and, also in the same period;. steamer* to the lonange of 20,000 to --">,OOO annually for 1 the Osaka .Shosen Kaisha. Tn order J to cope with the demands, the Osaka Ironworks will construct three new ; stocks for vesisels of 10,000 tons each. ! while two or tlnee stocks also will bo I built at the branch works at Sakuraz- 1 ima. < I ■ 1 1