The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-12-27
Supports No Radical Measure.
SHIPPING OF EAST SCOTLAND.
Great Trade Depression Reported b,
Consul Fleming.

The State Department has received from
the Consul ct Edinburgh, Nr. Rufus Flem-
ing, statement concerning the depres-
sion IN shipping trade on the east coast
Of Scotland He says:
For some months. The shipping trade
has been in bad way, owing 10 the de-
preston in nearly all branches OF indus
Try and commerce At the end Of last
year, the shipping companies did not fore
see any change in the general conditions
that had made them prosperous in 1899
and not until cargoes began TO fall of
and freight5 to decline IN consequence
did they realize the fact that the volume
Of business for 1901 had been greatly
overestimated-
Last year. goods we're cheap, a. 4 rule.
and the majority OF dealers bought Esavi-
", with a view 20 selling 81 a large profit
later on; but disappointment awaited
them. the demand declining and the sur
plus on their hands putting further or
ders cut of the question This Was true
OF all classes Of goods. except food pro-
ducts and certain lines of staple manu-
features. As a result. importers have
been and are now buying cautiously and
in small quantities. TO I'll immediate or
dcTs. and the volume Of trade has by no
sells ordinarily employed.
On steamship lines from and TO East
Scotland Forts. rates have dropped TO the
lowest figures ever known. 4 few weeks
ago, a vessel brought wheat from New
Lork TO Leith for is cents quarter IS bush
eIs}. Since that time. however, there has
been a slight advance. but the business of
the average vessel in the american or Co
iouial trade does not pay expenses
In fact steamships running between
East Scotland and New York that were
earning from 5000 to so. 600 on the round
trip in 1900 have during the past three
months, been losing from s.. 500 TO 81. eco
each round trip. Lines between this
this coast and the Continent have also
been seriously affected by the slump in
cargOes and rates.
That the prospect for business is not
especially encouraging appears from the
announcement in a local newspaper that
a steamer of soEle 5000 tons built two
years ago at q cost of about s2I9. 900. IS
now offered for sale at Sl5S, 600. The high
est offer so far received is only SIG. 600
It IS further stated that steamer Of
$3.50 tOns dead weight. built at the end
of 1891 for which the owners refused
SI45. 600 nine months since and SI31.50e
three or four months ago. is now offered
under $4,000. \ steamer of 9.550 tons
dead weight, built in 1889, for which S165.-
500 was refused in September last year
is now offered for sale for about sII9. Geo:
and a steamer of son1e 5000 tons dead
weight, built in 1899. which was sold
twelve months ago for So. 500 and for
which Se7.500 had been subsequently re-
fused. has recently been disposed of for
S54. 500.
Steamship owners with whom l have
talked on the shipping-trade outlook are
not discouraged. although far from conf
dent; they have had similar experiences
a long intervals in the past. They intend
to keep the vessels IN the water and
stand any loss from low freights and light
cargoes until there shall be a change for
the better. which they do not expect be-
fore next spring. Meanwhile, new vessels
are in course Of construction fer east
coast companies engaged in the American
and Australian trade