REDUCED FREIGHT RATES.

Taihape Daily Times, 4 February 1919, Page 4

REDUCED FREIGHT RATES.

AMERICA TO AUSTRALASIA

MONTREAL Dec 2.

The reduced freight xatetj (from America to Australia and" New Zealand include naked steel 15dol.per ton, packed steel IS dol. rough measure cargo SOdol. The rates will apply per ton of 2,2501 b. or 40 cubic feet at ship's option. The reduction will be effective immediately. WASHINGTON, February 2.

The United States Shipping Board has reduced by half the ocean freight rates to Australia and New Zealand, South Africa, and the Orient.

LONDON, February 2.

The reduced rates to Australia and New Zealand will remain in force until the end of June.

NEW YORK, February 2

The New York Times Washington correspondent states that the United States Shipping Board has announced a wholesale reducion of ocean freight rates from the United States to Europe. It is thought that this will enable American shippers to compete with Britain and. other foreign nations. BUT NO REDUCTION IN GOODS.

The cabled statement that there had been a reduction averaging about 60 per cent from the flat rate of 150 s recently ruling on freights to all direct ports in Australia and New Zealand was referred to several wholesale and retail merchants in Auckland on Monday. Questioned as to whether this would mean any material reduction in prices of commodities at a reasonably early date, the opinion was expressed that it was extremely doubtful. On high priced goods, which from their nature occupied a very small space on shipboard, the reduction in freight meant very little. On low-priced goods, of a bulky character, the reduction in freight would make a very material difference under ordinary circumstances. Against this, however, was the fact that: practically 110 goodfc were yet coming forward and that prices were steadily rising at Home of many of the commodities in use here. This, it was held, would fully equalise any reduction in freights that might be made at present except, perhaps, in regard to one or two lines The price of corrugated iron and fencing wire, for instance, had been reduced' recently, and might see a further reduction-as the result of the reduced freights mentioned. In general it was considered very doubtful, in view of the unsettled conditions at Home, whether there would be any substantial reduction in the price of the large majority of goods for months to come.—" Star. 1 "