New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-08-14
Members of Chamber of
Commerce Seek War
Risk Bureau.
ENDORSEMENT FOR
SHIP REGISTRY BILL
Oppose Clause That Would Az
feet Coastwise Shipping
Low Shows Opportunity.

The Chamber OF Commerce has sell
dom held a more enthusiastic meeting
in its history than the special meeting
called yesterday 10 consider ways and
means for the readjustment OF foreign
commerce, which has been demoralized
by the European war. Several resolu-
tions were adopted urging govern
mental action at the present opportune
time to build up an American merchant
marine.
The Chamber resolved to request the
government to establish a bureau OF
war risk insurance TO be administered
under the direction Of the Secretary OF
the Treasury by bolrd OF three or
five members, which shall assume the
risks of war on American vessels and
their cargoes shipped 10 foreign ports.
The ship registry bill, which has just
passed Congress, was Endorsed by the
Chamber, with the exception of Section
8. which was incorporated by the SEN
ate, permitting the President, at his
discretion. under certain circumstances
to admit foreign built shipping having
American registry TO trade through the
Panama Canal between Atlantic and
Pacific and Gulf ports and in the Great
Lakes. The special committee on ship
ments during the European war. whose
report was submitted to the Chamber
at the special meeting. telegraphed
President Wilson and the proper au-
thorities in Congress urging the elm
nation Of this section. 1t was the
spirit Of the meeting yesterday that no
interference with American coastWise
shipping, even under present European
conditions, should be permitted.
A sharp controversy arose among the
members of the Chamber upon the IN
PRODUCTION of a resolution by William
II. Douglas providing in effect. for the
substituting Of American ships in for
eign trade by the United States govern
ment Mr. Douglas tried hard to get
his resolution before the Chamber a s
n whole for consideration, but after
considerable objection and discussion
IL was relegated to committee: The
objection to its consideration by the
Chamber at this time was sustained by
a rising vote of % to "a. j. +. Nor
gan and prominent bankers were among
the first to stand up with the majority.
The pertinent part OF the Douglas
resolution was as follows:
"Be il resolved that we ask OF Con,
gress such immediate legislation as VIII
gradually build up for US an adequate
feet of American owned vessels, and
that the national government shall be
granted authority by Congress to at
once advertise for tenders for the es-
Enlistment Of regular and permanent
lines of steamers to the countries
named and elsewhere as may be deemed
essential 20 our needs"
In the face of the strong opposition,
however. Mr. Douglas finally withdrew
his resolution from the consideration
of the Chamber as a whole.
Jacob II. Schiff in an address on the
financial situation as developed by the
European situation called upon inc
business men of this country TO meet
all their obligations abroad, despite inc
war. He intimated that there had been
a disposition on the part of some men
TO use the "casus belli" as an excuse
for avoiding their just foreign debts
at this time.
Seth Low urged the need of the coun-
! try establishing a mercantile marine OF
It's own. and the necessity OF the gov
ern,ent assuming the war risks on
American vessels and their cargoes.
Eugenius H. 0uterbridge, as vice
chairman. presented the report of tie
snecial committee on shipments during
the European war, incorporated In
which were tho various resolutions
which precipitated The discussion from
members OF the chan Der.
The resolutions included one, that
the Chamber of Commerce express its
high appreciation of the prompt and
effective action of the President and
Congress in affording a prompt solu-
ton of the currency difficulties created
by the sudden outbreak of war in Eu-
rope"
A subcommittee was appointed from
the special committee TO attend the eN-
port trade conference with Secretary
McAdoo in Washington to-day. Besides
Mr.. Quterbridge the members OF this
committee are James A. Farrell, PhlliD
A. S. Franklin, IL. r. Eldridge, j. Parker
Kirlin. Hendon Chubb, Welding Ring
and Walter b. Pollock.
A resolution in addition to those in
corporated in the report of the special
committee was offered by Mr.. Outer
bridge and adopted. 1t was aimed to
aid shippers and merchants in learning
as accurately as possible the cost OF
/ war risk insurance. 1t asked that all
American marine underwriters coop
crate to this end with the special COM
mittee on shipments during the Euro
pean war