REJECTED.
A SHIPPING SCHEME. Eeceived March 15. 9 a.m. LONDON, March 14. A large gathering of shipowners at Glasgow by an overwhelming majority, rejected Mr M'Carthy's international Union scheme. Mr McCarthy's scheme was that all tonnage should be laid up in sections annually for two consecutive periods of one month each. The latter provision was intended to meet the practice followed at Lloyds, and by the insurance companies, of only calculating rebates on premiums after a ship has been out of commission for one month. By this means the supply of tonnage would have been regulated to the demand for freight purposes. Messages were received from Copenhagen in support of the proposals, which were also approved in all parts of the United Kingdom and by owners abroad, the whole representing a capital of £50,000,000. The scheme was also welcomed with enthusiasm in Japan.
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https://paperspast.natlib.govt.nz/newspapers/WAG19090316.2.17.20
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Wairarapa Age, Volume XXXII, Issue 3139, 16 March 1909, Page 5
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143REJECTED. Wairarapa Age, Volume XXXII, Issue 3139, 16 March 1909, Page 5
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