AMERICAN SHIPPING TRADE.

Taranaki Daily News, Volume XLVIII, Issue 81917, 21 January 1907, Page 3

AMERICAN SHIPPING TRADE.

AMENDED SUBSIDY BILL. New York, January IS. President Roosevelt, at u banquet given by the National Convention for the Extension of Foreign Commerce, endorsed the amended "Ship Subsidy Bill, which has now a- prospect of passing, it is modelled on the lines of the Canard Company's contract with the British Government. It is proposed to devote £IOO,OOO annually to the building of twenty fast steamers for the South American trade, and half that amount for bail ling sixteen slcamcrs for the Pacific trade. The Bill also provides for a naval reserve. Senator Cannon, an opponent of the previous Bill promised to support the amended measure. INTERVIEW WITH SPBECKLES' MANAGER. Per Press Association. AiTKiAxi., January 19. Speaking to-day of the amended Ship Subsidy Bill which, according lo the latest cables from New York has a chance of pacing, Mr L. F. Cm-kroft. tin- Oceanic Company's general passenger agent, -aid lhc| measure as proposed by President Roosevelt provided for subsidi-ing the Pacific Ocean lines under the American flag to the extent lof .C2i ili.OOi) yearly. There were only two Pacific linas in existence, the I'acilic Mail linu and ihc Oceanic, and the Pacific line by the recent hiiildin" of four new steamers had concluded their building programme for Ui o lu . x t 'few years at any rale, and he doubt.al whether they would consider it suliicicntly worth their while to build new ones under the subsidising condition*, so that meant the probability of the Oceanic line being (he only Pacilic I rading company immediately ready to fall in with the proposal. As a matter of fact, continued MrCockcroft, his Company, he supposed, had been the most assiduous worker towards the realisation of this Bill. They hud pioneered the Australian trade, and stuck lo it, and in one way and another had dropped about fi.OOii.D'');) dollars n, carrying it on, so it was only fair ihat in the untie;' of subsidy they should be generously treated. Wit b regard lo cruiser conditions, Mr C iberofl said les Company won! I iiladly build steamer.-, if that was a sine qua non. up to nil the requirements of the t"uit<d States Government. The present vessels wire AI at Lloyds, and constructed to lill cruiser purposes in war time.

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