JAPANESE SHIPPING.
VOLUNTARY CONTROL SCHEME. RESTRICTION OF PROFITS. United Press Assn.—Elec. Tel. Copyrlg-ht. TOKIO, July 23. Seven of the principal Japanese shipping companies, including the Nippon Yusen Kaisha and the Osaka Shosen Kaisha, have combined In a voluntary control federation embracing 4,000,000 tons. Henceforth, they will co-operate In the unification of charterage, the distribution of ships, and in operating tonnage to meet any shortage. Also, they will attempt to prevent an undue advance of freight rates. The members also aim at restricting the amount of profits. It is slated that the shipowners prefer to formulate the voluntary control plan in preference to some form of State control, which preparations for a semi-wartime economic structure arc making inevitable throughout industry.
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Waikato Times, Volume 121, Issue 20254, 24 July 1937, Page 7
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119JAPANESE SHIPPING. Waikato Times, Volume 121, Issue 20254, 24 July 1937, Page 7
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