The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-07-13
JAPAN IN TRADE.
Crowding England Out OF the Marie.
of the Far East.
London Times

Crowding England Out OF the Marke3.
OF the Far East.
London Times.
The 1o9th ha.f-yearly meeting OF Ina
Peninsular and Oriental Steam Navig,.
ton Company was held on wednesday j,
London. Sir Thomas Sutherland. Mp
who presided, said the board were able 10
declare the usual interim dividend. whea
they had fully earned. and there could Ia
very little doubt that at the end Of TIA
year they would be able to pay what hs
might call their normal annual dividend,
at the rate of ~ per cent Although -
far as he could judge. the revival In trade
they were all expecting had not yet set n.
they had been so fortunate during the bal,
year under review as TO obta!rra slight in.
crease in their revenue, both in respect 10
freight and passage money. At the same
time he regretted to say that that add.
fional revenue was not due in any way 10
improved rates, but simply to the fact that
they had been employing larger vessels
in some of their trades, as well as sailing
a greater mileage. In fact. the Eastern
trade had been singulariy disappointing
in some of it's most important aspects Il
was much too soon for any one to predict
the results of the late serious conflict be.
tween China and Japan, either commef-
cially or politically. but he felt sure that "a
new and serious Eastern question was ris-
ing on the political horizon which would
add vastly to the anxieties of those who
had TO safeguard the interests OF Great
Britain in the far East. He thought japan
was likely. during the next few years, to
exhibit very marked progress. but he was
afraid that progress would be Of no benz
lit to either British manufacturers or ship
owners. AS Bombay had succeeded Man.
chester in the spinning trade TO a large sx-
tent. so Japan was now straining every
nerve and had succeeded TO a large exten.
in superseding Bombay. A small straw
showed the way the wind blew, and
single fact. such as was brought to his
notice few days ago, pointed In the d.
reetion he was indicating. Only two years
ago an enormous trade was done between
the north OF Europe and India in luciftf
matches. but within the last twelve
months the whole OF that trade had. hs
understood. been absorbed by Japan. Tne7
must look forward to the fact that Jaqsn
with her enormous resources. would Be .
serious competitor with this country 10 fhs
great markets of India and China Hs
need scarcely say that II this result sncui
occur, II would he owing in no slight meas
ure to the bounty which Japan wonld o.
tain owing to the depreciation IN tas
value OF silver. This naturally led him 70
refer TO the question of exchange IN cor
nection with their own accounts, ana 20
regretted 70 say that during the "
months under review they had SUFFERED "a
additional loss of 10000 over that IN ths
corresponding period of the previous ye3h
Their loss on exchange was now repi
scented by the tremendous figure OF tss'vs
for the whole year. He had no desire V
make bf-metallic speech. Thas Wou.
not be the place TO do so. and ne mefss
stated facts as they affected their ora
company. II had sometimes occurred y
him that If the present downward eoul'.
of silver continued. some future chanlnaA
--he hoped IL would not be In bis umr
would have 10 summon the generai msse
ings of the company, not in LONDON. W
in Hongkong. Hiogo. or some grea, 49, !,
ern port. and that their service. insisaa =
being piYoted on London as al pleS...
would 10 pivoted on some port IN tns ~
East where their expenditure. ana 10 -.
afraid their dividends. also. would De ps1
in silver