WORLD’S TRADE

Hawke's Bay Tribune, Volume XVIII, Issue 20, 5 January 1928, Page 5

WORLD’S TRADE

SIGNS OF REVIVAL BRITISH MERCANTILE MARINE. READY TO MEET COMPETITION. [By Cable — Press Assn. — Copyright,) (Received 5, 9.55 a.m.) London, Jan. 4. “There are signs of recovery of the world’s trade, ' says the Hon. Alexander Shaw a director of the Bank of England, writing to the periodical “The Shipping World,’’ “but it will be long before industry is reasonably certain of securing a moderate return on capital. When the time comes the British mercantile marine will be ready to meet the whole of the world in fair and square competition. It does not seek protection but only demands fair plav in the international freight markets.” The Hon. Alexander Shaw estimates the earnings of cargo companies on capital and reserves at under three per cent, and the earnings of liner companies at a little over 3J per cent. Such earnings are insufficient. Seven out of ten vears are lean ones for shipping, which depends on the other three years to recoup losses and provide new ships and interest on capital —(A.P.A. and “Sun” cable.) REVIVAL REALLY A FACT. (Received 5. 8.30 a.m.) I British Official Wireless.) Rugby, Jan. 4. The London Chamber of Commerce received last year 1130 applications for membership. The chamber regards this as “some proof that the trade revival is really a fact.”