HERR HUGO STINNES

Waikato Independent, Volume XXII, Issue 2492, 10 January 1922, Page 7

HERR HUGO STINNES

EXTENSIONS TO HIS FLEET SHIPPING SHARES IN DEMAND Hon- Stinncs, Germany's greatest coal and iron magnate, is making a big effort to obtain mastery in the German shipping world. It will be remembered that ho recently failed to secure reelection to the directorate of the Ham-burg-America lino, owing to the fact that he runs a line of his own in opposition. After that rebuff, he endeavoured to conclude an agreement with the North German Lloyd Company. As that effort failed completely he set about buying North Gorman Lloyd shares, and ho now holds such large blocks of them that ho will be able to exercise considerable influence on the company. On the return of Herr Heinekau, chairman of the North German Lloyd directors, from America, something may be expected to happen. Stinncs, of course, is also a large shareholder in the Hamburg-America line, and the union of—or at least a far-reaching working agreement between —the two great companies is not altogether out of the question.

As regards his own shipping line, Herr Stinnes has big plans being worked out and in immediate view. Since February he had added 54,600 tons of new ships to his line—four vessels of 12,000 and two of 3300 tons—and he has a. goodly number of ships on the stocks. Ho has been buying ships freely of late, too, both at home, and abroad.

Stinncs' activity has v created tremendous interest in Hamburg and Breman, and shipping shares are in great demand on the exchanges throughout Germany.

Herr Stinncs undoubtedly is influenced by the unexpected and remarkable progress "which has been achieved in Germany's shipping position.. By the end of the year she will have at her service 20 per cent of the amount of her pre-war tonnage, as the following figures show: Left in German possession after the -war, 400,000 tons; bought from Entente and other countries, or chartered, 150,000 tons; built in 1919 and 1920, 230,000 tons; completed January-August, 1921, 290,000 tons; to be completed before end of 1921, 100,000; total, 1,170,000 tons. Before the war Germany had 5,0U0,000 tons of shipping, and a building capacity of half a million tons yearly. In o£, the German yards will turn out this year 80 per cent of their pre-war production —a noteworthy achievement.