NEW JAPANESE COMPANY.

Manawatu Herald, Volume XLI, Issue 1983, 29 May 1919, Page 1

NEW JAPANESE COMPANY.

TWENTY MILLIONS CAPITAL. According to the “Kokumin,” a plan is on foot for the inauguration of a new steamship company in Japan. This is stated to be a joint venture by Japanese and American capitalists, and it is proposed to purchase one hundred or so of the steamers with which the American troops are being repatriated. , This fleet will engage, it is stated, not only in the Pacific trade, but in all the great routes of the world. Another version of the Japanese combine represents it as one in which shipyards are mainly interested. This states nothing about the American ships released from transport work, but that the new company is to be a means of preventing the ships built on speculation when prices were continually rising from being left on the builders’ hands, with no prospect of remunerative sales. Just as the shipyards have to look forward to shipping companies requesting a large abatement j in prices, o'r the ships on order can- > not be accepted, so, too, American \ steel concerns who have large con- \ tracts only partially filled witli the | Japanese shipyards, recognise that they may be asked to reduce prices or a cancellation may be effected, the capital of the new concern is reported to be £20,000,000.