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Hokitika Guardian, 19 October 1921, Page 2

An informative statement oil the piesont position of world shipping and the outlook for British shipping industry was made in London recently by Sir Frederic Lewis at the mini at meeting of the firm of Furness. Withy and Co., of which lie is chairman of directors. Dealing with the statistics published some time ago. which showed that in June last the world’s sicam tonnage (excluding wooden vessels) had increased hv 11,700,000 tains as complied with 191-1. Sir Frederick Lewis observed that the present world total steam tonnage of o-1.217.000 tons in- j eluded many old vessels which would ' never again he put 'into commission. Ex.eludriig ships over g.y years old, the Increase was 0.010.000 tons. Of this iacruase 2,0-10,000 toils represents bulk oil-carriers. Notwithstanding these figures, an amount of shipping is laid up ill the world's port* which w s estimated recently at 10.0110,000 tons. Ft followed that the principal cause of ( the decline in the volume of freights was not so much the over-production of tonnage as the falling o(T in the world’s oversea trade. ‘'So far as f am concerned," Sir Frederick Lewis added, “I can only sis' one practical thing to he done, and that is to reduce operating costs to such a level as will help forward »■ revival of international trade.. Seamen's wages have already been reduced by mutual agreement; we have extended our self-insurance arrangements in order to minimise the expenditure on insurance premiums; whilst coal. . . has come down .in price, but still not far enough. There is, however, very great room for imj provements and economies in ports ..both at home and abroad." The necessity shipowners are under of stimu- | biting trade by lowering costs and | freight is emphasised by a eomparai tive statement of the earnings of Bii- ! tish shipping in foreign trade, siipI plied by the same authority. Two j vears ago the gross freights ol Brii tish shipping engaged 'in foreign trade j were estimated at from CM00,000.000 ;to C'too, ooo.ooo a year. On the same I basis this yarn's earnings would he 'about £00,000,000 to 070,000,000 from | which, however, would have to be dei filleted the cost of coal purchased abroad during the coal strike. and ; that of joiners’ work done in foreign I ports during the strike of British ship , joiners Tt is surely an augury of the leeling of unity which should prevail between j Great Britain and the I'nited Stales lat the coming Disarmament Confers ! enec in less than a month’s time now, |to witness the notable expression of j sympathy and personal interest beI tween the two peoples in the impressive ceremony in Westminster Abbey ! tliis week, marking America’s tribute jto Britain’s Unknown Warrior. 'I he feeling -was intensified to the highest degree by the cordial expression and exchange of views between the national orators. Both tlfo American Ambassador (Colonel George Homey) and General Pershing spoke with a fraternal frankness and 'cordiality which could not be considered otherwise than most friendly indeed. Mr Lloyd George naturally rose to the occasion, and ce-

men ted the remarks with a clear expression of the common aim which the ( governments of the two peoples strive for. The whole ceremony was a tang- . iblo expression of good will, an outward and visible demonstration of the spirit animating the two countries—the I freest in the world—to seek to main- , tain the peace of the whole world by j a common sacrifice guaranteeing future peace. Nothing that has * transpired since’ the Great AYar, lias served so aptly to illustrate that the union of the two peoples is of common concern 'and feeling that this is so, may we not, with every reason, hope for re- | suits of surpassing importance to transpire from the Disarmament Conference;-' It seems to he more importast than ever that Air Lloyd George should lead the British mission on that j great occasion, and it is hoped indeed | that nothing will transpire in the interval which will cans,, the possibility of his enforced absence.