PANAMA CANAL IS SUFFERING SLUMP.

Star (Christchurch), Issue 19134, 29 July 1930, Page 11

PANAMA CANAL IS SUFFERING SLUMP.

SHIPMENTS OF NITRATE SHOW LARGE DECREASE. ! | The Panama Canal is suffering a ■! slump, says the “New York Times.” j' The decline in cargo passing through ! the canal continued in April with 103,450 tons less than in March, and the total for April of 2,456.782 tons was 262.556 tons le c -s than the total for April, 1929. The decrease in the Atlantic-to-Pacific route from April a year ago amounted to 56,331 tons, and It was 206,555 tons from the Pacific to the Atlantic. The Atlantic-Pacific cargo, totalling 890,119 tons, showed an increase of 03,133 lons over March, but the 1,650,063 tons moving from the Pacific 1 to the Atlantic was 165,589 tons less than in March. The principal decreases in April, 1930, compared to April, 1929, in the Atlantic to Pacific trade were: Automobiles, 9257 tons: manufactured goods of iron and steel. 59,021 tons; and sugar, 11,385 tons. Increases were shown in ammonia, 579 G tons; coal and coke, 575 G tons; cotton, 4130 tons; scrap metal, 11,363 tons; phosphates, 15,515 tons, and sulphur, 17,105 tons. Big Decrease in Nitrates. The heaviest decrease in the Pacific to Atlantic trade was 105,288 tons in nitrates, largely from Chile. Other commodities showing decreases were i fresh and dried fruity, 23,021 tons; oats, 6917 tons; sugar, 38,079 tons; and wheat, 05,377 tons. Increases were shown in lumber, 5892 tons; mineral oils, 28,820 tons; whale oil, 27,164 tons, and ores, principally iron, 26,572 tons. In the Atlantic to Pacific trade 65.4 per cent of the cargo transited in . April originated on the Eastern and Gulf seaboards of the' United States, and 27 per cent in Europe. Tonnage from the United States decreased 29,305 tons, cr 5.3 per cent, as compared with April, 3929, although the i proportion to the total tonnage was | somewhat higher. The amount originating in Europe was 217,650 tons in i April, 1930, as compared with 222,966 tons in April, 1929, a decrease of 5316 i tons, or 2.4 per cent, although here again the percentage of the whole was slightly higher. Classified according to destination, ’ 40 per cent of the Pacific-bound tonnage in April went to the United States, 24.1 per cent to Asia, 17.7 per cent to South America, and 12 per | cent to Australia. Cargo tonnage to all these areas, with the exception of Asia, declined. 1 as compared with April. 1929. Pacific to Atlantic. In the Pacific to Atlantic cargo | movement in April, 48.0 per cent came from the United States, 23 per cent ; from South America, 13 per cent from • Canada, 4.0 per cent from Asia, and 9.3 per cent from Australia and New

Zealand. As compared with the corresponding month a year ago, tonnage from the United States decreased 3332 tons, or 0.4 per cent, though the percentage of the total was somewhat higher. On account of the greatly reduced nitrate shipments, cargo tonnage from South America decreased 182,354 tons, or 32.4 per cent, and also showed a greatly reduced percentage in its relation to the total cargo. Tonnage from Canada and Asia showed decreases in actual tonnage in the amounts of 52,016, or 19.8 per cent, and 17,438, cr 15.7 per cent respectively, as compared with April, 1930, as well as decreases in proportion to the total cargo. On account of heavy whale oil shipments, cargo tonnage from Australia and New Zealand increased 43.255 tons, or 39.3 per cent, also showing a large increase in i.ts proportion to the total Atlantic-bound cargo movement. Segregated according to destination, 57.0 per cent of the cargo in this direction went to the United States and 34.3 per cent to Europe. Tonnage to the United States increased in its proportion to the total tonnage in this direction over April, 1929, but showed a decrease in actual tonnage of 89,299 tons, or 8.0 per cent. That to Europe showed a decrease in its relation to the total cargo as well as an actual decrease of 135,797 tons, or 19.4 per cent.