ON THE SEAS.

Press, Volume LII, Issue 15606, 2 June 1916, Page 8

ON THE SEAS.

THE SUBMARINE CAMPAIGN. A U-BOAT'S ALLEGED ADVENTURES. INTERESTING GERMAN OFFICIAL STATEMENT. (By Cable.—l*ross Association.- Copyright.) - (Received June Ist, 8.20 p.m.) BERLIN, June 1. An official communique says:— "A German submarine, which was recently in the Atlantic, attempted to stop-a 3000-ton freight steamer on May 2nd. The steamer did not bear a neutral flag, and the submarine fired a warning shot "near Cape Ushant. Some minutes later the steamer opened fire with a 6-ineh- gun, but the submarine escapcd by utilising her high speed. "The same submarine, on May 3rd, pursued a big steamier and fired a warning shot from a great distance. The steamer opened fire from a o or 6- : nch gun, but the submarine again escaped."

IN THE BALTIC. GERMAN CONVOY ATTACKED. (Received June Ist, 7.10 p.m.) STOCKHOLM, Juno 1. The "Stockholm Tidningcn" publishes details of the reported engagement In the Baltic, off Oxelosund.FForu r German warships, accompanied by destroyers and trawlers, were escorting a convoy of ore-laden steamers, when one or two submarines attacked them. A hotfire was exchanged between the ships, all of which were travelling at a high speed, and disappeared in the dusk. The result of the action is unknown. Oxelosund is on the coast of Sweden, about sixty miles south-east of Stockholm. A message published yesterday stated that a submarine between Hafrige and Landsort, a few miles east of Oxe!o«und, had a brisk engagement with German armed trawlers, which were escorting a convoy of orc-laden steamers. Details are awaited. GERMAN SHIPPING. \ A DISASTROUS YEAR. LONDON. Mav 31. The "Shipping Record" states that of the fifteen leading German shipping companies, only three paid dividends in l'Jlo. They paid dividends of 6, 4, and 2 per cent, respectively by winding-up their accounts, counting their interest receipts as profits, arcl trenching r.n their reserve funds. Seven companies did not publish balance-sheets, including the German East African, the Norddeutscber Lloyd, the German Levant, and the Hamburg-Amerika lines. SHIPPING DIRECTOR'S BOAST. COLD COMFORT FOR SHAREHOLDERS. ZURICH May 31. Dr. lleiiicken, chairman of the Norddotiiscnor Lloyd, declares that Germany can complacently await the threatened commercial war. .Englishmen, he says, have apparently forgotten that t-iie late Mr Joseph Chamberioin's idea of a Greater Britain in an Imperial and economic sense | was frustrated owing to the opposition of the colonies, which feared the loss of the German market. These conditions have not changed to-day. A boycott of German trade after the war will merely drive all neutrals into Germany, who will naturally offer l thopi specially advantageous terms. Germany cannot be eliminated economically without bringing down the whole fabric of the world's cconomy, burying foes and neutrals alike. CAPTURES OF NEUTUAL SHIPS. GERMAN OPERATIONS. LONDON, May 31. In the House of Commons, Dr. T. J. Macnamnra, I'arliamentaiy Secretary to the Admiralty, .stated-that since October. 1914. the Germans had captured and taken t<> German ports 195 neutral ships laden with cargo for Britain.