MORE SHIPS THAN CARGOES.
CAUSE OF SHIPPING DEPRESSION. MANY COMPANIES WIND UP. Telegraph—Press Assn.—Copjrlght. London, Feb. 14. the depression in the shipping industry continued and deepened" durin" the yehr,” is the opening sentence of a report of the Chamber of Shippin" of •the United Kingdom. The depression is attributed to the continued existence of more ships and to fewer earo-pes fjian before the war. Freights were at « record low level, even below pre-war pri.es.
Nineteen cargo-carrying companies with a paid-up capital of three millions w<-re wound up in 1825. Referring to the recent seamen's strike, due to a senseless dispute between two unions, the report says the malcontents gained nothing thereby, but .-ost those who trusted them untold’ am! unnecessary suffering as well as wrave Joss.
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Bibliographic details
Taranaki Daily News, 16 February 1926, Page 7
Word Count
126MORE SHIPS THAN CARGOES. Taranaki Daily News, 16 February 1926, Page 7
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