GERMAN SHIPPING PROGRESS.

Taranaki Daily News, Volume L, Issue 60, 2 July 1907, Page 4

GERMAN SHIPPING PROGRESS.

HAMISIRC A.MEIUCAT 7.1 XE. I I Whether through spoon-feeding sub- j sidies or not Herman shipping imdoubtedly goes ahead. Only the other day Commonwealth papers referred to the increasing portion of I lit- Australian trade which is going to the Herman liners. And the same story of progress is being told elsewhere. The progress made by I lie Herman mercantile marine in recent years (says a Home paper) is exemplilicd in the annual report of the Hamburg-American Line, which is now by far the largest shipping company in the world. In ISSIi the entire tonnage of its fleet was 02.257 tons, uiid at the end of December last this had increased to !)2ii,!l|:l tons, representing 15S ocean steamers and 2115 river steamers, tugs and lighters. The average age of the boats, calculated according to their tonnage, is seven years and six months. Then' was a gross profit of :',t,l(i!U:il marks, and after setting aside a large sum of depreciation, etc.. and payment of interest on preferential loans, the net balance -jf 111,125,1)0(1 marks—or .Csoli.OOo— of a dividend of 10 per cent on the share capital of 100,000.000 marks. Ten new steamers, including a sister ship to the Amerika. of 20,700 tons, have just been ordered. The total distance covered by the ocean-going boats was 7,4:12,000 nautical miles. The report, however, intimated that serious differences exist betweeu the different Xorth Atlantic lines, and these, unless settled, must lead to another ruinous rate war. The trouble is evidently, chiefly with the Cunard Company, which has refused to refer the dispute to arbitration.