REDUCED OVERSEA FREIGHTS

Taihape Daily Times, 31 December 1918, Page 4

REDUCED OVERSEA FREIGHTS

j AN AMERICAN REPORT CHRISTCHURCH, Dec. 30. While he has not, as yet, received ■any news that would confirm the Chicago Tribune’s statement, cabled last week, in respect to reduced freights on American vessels, Mr. A. W. Bennett, manager of the New Zealand Shipping Company, has accepted the news, as being probably correct. He was influenced in arriving at this decision in view of the fact that the United States and Great Britain did not intend to compete with each other in freights. A reduction of 25 per cent, was announced in the British rates a few weeks ago. Mr. J. J. Kinsey, chairman of the Oversea Shipping Committee, is also inclined to the same belief. Ho gave it as his view that the second reduction of 25 per cent, mentioned in the cablegram would take place, and accordingly the British rates Avould be reduced to the same extent, making a total reduction of 50 per cent, on both American and British vessels. The working of the respective vessels, taking everything into consideration cost about the same.