SHIPPING FREIGHTS

Evening Post, Volume CIII, Issue 56, 8 March 1922, Page 2

SHIPPING FREIGHTS

"A FRUITFUL INQUIRY." . (HOX ODB, OWN COBRISPONDINT.) LONDON, 10th January. Arrangements were made bo that the report by the Imperial Shipping Committee on rates of freights in the New Zealand trade should be issued simultaneously in this country and in the Dominion, and doubtless ample comment has already been made on the findings of the committee. The few reflections; made by the Financial Times may, however,' be interesting. Under the'heading, "A Fruitfullnquiry," this journal devotes a leading article to the subject, f For the most part it is a reproduction'of the chief points of the report, but it. ,la.ys some emphasis on the vindication of the shipping companies. "The report," says the writer,, "has beoome a sort of retrospective vindication of the shipping companies trading to New Zealand from the charge that they kept up freights unduly under protection of a 'complete monopoly.' Had the committee entered into all the points suggested by the High Commissioner on behalf of the New Zealand Government, it would have become an absolute inquisition into every detail of the companies' business and assets, inohiding the 'causes and effects' of variations in reserves and a speculative inquiry into the values of the fleets *at present rates of purchase or replacement by new construction.' Though the committee did not neglect such points so far as they hail any bearing on the question at- issue, they , directed their attention mainly to mora; relevant considerations. " 'The committee,' the " commentate! concludes, 'suggested that shippers and the shipping companies might advantageously co-operate to simplify these wasteful practices, and it is understood that steps have been tal.jn in the Dominion to reduoe handling of cargoes and the multiplicity of documents and marks. Thus the work «f the committee has already had a practical outcome. It is noteworthy, by the way, that the conclusion of the committee that the freights charged at the time of the inquiry were 'not unreasonable' was unanimous, and bore the signatures of the High Commissioner for New Zealand and representatives of all the overseas Dominions. This testimony should silence much criticism of shipping companies, which, as Lord Inohcape de; olaredt is baaed on 'misconception and imperfect information.' "