The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1874-11-20
Freights.
A Prominent London ship Owners Opin-
ion,

Mr.. David Brown of London, proprietor of
the Atlantic line of packets, writes to Messrs.
Curtis & Davis of this city, under date Of Nov.
7th, stating the present condition of freights
and the prospect for the future. We quote
some of the more important portions:
The recent collapse at San Francisco has
thrown very large amount of tonnage upon
other markets. not necessarily the ships already
chartered from San Francisco, but, by induce
ing the owners to send their ships in other di-
rections, although these merchants have been
in some slight degree relieved of their abund.
ant influx of tonnage by the fortunate incident
OF the gnano contracts remaining open fcr
such an unprecedented length Of ti'-c, OF which
circumstances sew, raj ship uIed at high rates
tage and -sg,nsfter in this market to load at the
fear we may look for catastrophe similar
to that at San Francisco during the next rice
season, as, to my certain knowledge, one house
OF neither means nor standing has taken up .
large number of vessels purely upon speculation
for the chance of re citing them at a profit
with the certain alternative of failure if freights
should rule low and rice high at the commence
ment of of the season / cannot too earnestly
suggest to you the propriety of advising YOUR
captains TO look to the standing of ther mer-
chants, before considering the rate of freight or
any other inducement to charter.
The rice crop OF 1875 is expected to be a very
OF last year, when half the shipments were di-
verted to the famine districts Of Bengal. and
there will Enthusiastically be AN immense quanti-
| ty OF rice to come to this country (Eugland),
whilst Inc the tonnage already chartered amounts
to 250, 900 tons register 1t is impossible, how
| ever, to forecast with any certainty the proba-
6e rates, as whilst Calcutta and Bombay
freights remain so low, large amount of ton.
mage IN the East, or en route, will necessarily
be diverted to the rice ports for the coming sea-
rs lo.a
cotton crop from Bombay and Calcutta. which
VIII doubtless tend to Improve rates from this
quarter.
The fact that steamers are becoming unpopu-
lar in this trade also, is feature greatly in faf
vor of sailing ships Two years ago steamers
readily comm anded 20 per cent higher than
sail ng ships; this is no longer the case. Indeed
Tor the last eighteen months steamship prop
erty IN the Indian trade has resulted most dis
as,rously to almost every one connected with IT,
Thiist for outward employment rates as a rule
no.t nase peen lower than for sailing ships. The
consequence OF this great depression is that
for ceriainy thru v 5s'rchssed in this market
Fices TWO years since. and there are now com.
| payatively few steamers building.
eur most prominent ship owners were so
pane stricken when the Suez canal opened be-
Hevilg the prosperous days OF sailing vessels
| We're 1t an end, that many OF them sold their
| ships AID built steamers; but now they are re-
vertlng 20 sailing ship property, and most of
| tne yard are in lair working in fact, lh. chief
activity lnthe iron trade of this country (Eno-
land) at The moment is In making ship6u,idinp
| iron. t fEeF r
Peruvian euauo frtigbts still remain al 72s Cd
United Kingdom, los Continent A very large
amount OF shipping has been chartered, about
Z5o, 200 tons register, eNending over period If
fourteen mouths for arrival at CAllao Tbs
has relieved our freight market OF a consdera
/ BIZ amour. of tonnage, asreat portion of which
] would otherwise have roceeded to the East
| Indies, sc. ~ 7
There has been an unprecedented fall in tim
Der freighs from the st. lawrence to this coun-
try, and this materially aftcts the sale of old
American ships in this market, the Norwe-
gians, who were the princpal buyers of this
i class of tonnage, being depeideut almost en-.
tirely upon the timber trade the high rates
| paid last year inducing tn sale of a large
amount Of American tonnage