The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1897-03-24
WANTS A SUBSIDY
Nippon YuSGn KaiSha Steamers
Meet Bad Luck.
SEVERE LOSSES DURING YEAR
Value of Beet Sugar In.
dustry in Europe.
General Review of Situation-Se-
we're Earthquakes Felt
in Mexico.

If the losses to the Nippon Yusen
and America are as great as the fol-
lowing intimates, the experience of the
Sakura-maru will not. help matters. 1t
is probable the company will be re-
out of funds deposited by the immigra-
ton companies, but recouping a loss
is far from making a profit.
Through the Nippon Yusen Kaisha's
ed States have found an outlet for
their products, and Japanese mer-
chants have been successful in open
ing up new territory for themselves.
If the line should be abandoned so
soon, it is not likely that it will be ta-
ken up by any other company:
The Nippon Yusen Kaisha has petit
toned the authorities for a special
grant of 100000 yen for it's Euro
pean and American lines. Should the
Government or the Diet refuse to give
the grant asked, the company will
have to give up the two lines, as IL has
no more funds to maintain them.
Such refusal, meaning as it does that
the State does not care much about
the shipping business, will bring dis
grace not only upon the company but
upon the empire, and make it very diff
ficult for any native capitalist TO re-
open the lines.
The Nippon Yusen Kaisha opened
it's European line in March last year.
This was soon followed by the opening
of the American line. In extending the
navigation and endeavoring to arouse
the people to the benefits of the line
abroad the company had, of course,
anticipated keen and powerful competi-
tion by various foreign shipping firms
and large losses on that account. The
anticipation was justified by the re-
suits, which showed the losses on the
European line to amount on an aver
age to about 100000 yen per voyage.
losses, the total losses of the company,
on account of its navigation abroad,
amount already to more than a million
yen. While the Nippon Yusen Kaisha
loses so much, the country benefits
greatly, for the freight to Europe per-
ton has been reduced from 40s to 30s.
Besides. the lines in question en-
able Japan to earn the freight which
had been paid TO foreign firms and to
take over TO herself a portion of the
carrying trade of Eastern ports. These
and numerous other benefits obtained
by Japan must more than compensate
for the losses sustained by the Nip
pom Yusen Kaisha.
The 10 new steamers for the COM
pany. ordered from England, have been
named the Inaba-maTu, BingO-maru,
Kakata-maru, Kamakura-maru,K Kama
gawa-maru. Kawachi-maru, Sanuki-
maru, Sado-maru, Tamba-maru and
Wakasa-maru. As has been already
reported, the Kanagawa-maTu has ar
rived in Kobe; the next steamer eX-
pected is the Kamakura- -maru. which
will probably reach Kobe at the middle
of April. The two steamers, Shinano
maru and Hitachi-maru. also for the
same company, ordered from the Nit
subishi ship-building yard in Nagasa
XII, are now being constructed n a
great hurry. Messrs. Barrie and Ka
wakami. engineers of the Nippon Yu-
sen Kaisha, have recently been dis
patched TO Nagasaki to superintend the
works there. The Kanagawa-maru (5,
500 tons) has arrived at Kobe. She
will be brought to Yokohama in a few
days.