, 1915-06-19

to the Argentine of high class goods aud
artic es of luxury, which are naturally carried
largely by this company. 50 that, IN addt-
ton TO the heavy fallin9 off in the passenger
t~ofdo, oar revenue fso1n hlgh-class cargo
was also materially reduced. The total
trade between Great Britain aud Brazil dur
ing 1914 also showed a total reduction OF
over fifty millions sterling.
PANAMA CANAL DUES: WEST INDIA SERVICE.
Tue Panama Canal was opened tor traffic
a few days after the outbreak Of war, but If
is too soon as yet to Judge the effect it will
have on the trade OF the world. I may men
ton, however, that the United States Gov
ernment have fixed the Canal dues ut such q
high figure as to returd development on the
Pacific coast of America. NotWithstan lug The
war, we have carried on the West India Mail
service with regularity, having only had to
CANCEL two sailings, but the increased cost OF
IN tintaining this service has been very con-
siderable, aud we nre now III communication
with the Postmaster General and the
Colonial Office, and trust it may be posi-
bic to arrive at some solution OF the difficulty
of carrying on the service during the wa,
either 10y reducing the service somewhat or
by the Government contributing to the extra
cost caused by the war. These contract
mail services are also being Carried Oh at q
loss, there have been very few people travell-
ing and of course there have been no tourists
since the war began.
STEAMERS ARMED WITH GUNS.
Two Yenrs ago | reported 20 you that on
the suggestion Of the Admiralty we had
fitted at orr own expense large guns a.
in.l, .ent 10 us by the Admiralty. on our mail
and intermediate steamers trading with the
Argentine, AMI the example we set IN THIS
respect was followed Immediately by several
other companies. Although we were much
criticized at the time by n sec ION Of the
public, who were then less able 10 appreciate
the true position with reference to Germany
than they are to-day, we have been more
justified in the action we took with your
approval, as although most Of the compauy's
steamers have been trading III what WAS the
changer zone" in the South Atlantic, not one
of our stenmers armed with guns has 50 tur
been interfored with. (Cneers.)
THE coMpANY's srfrT AND THE WAR.
1t will, [ think, be u source Of g%ratIfca-
ton to the proprietors to know that l,094 Of
the employees of the company are now serv-
ing with his bIajesty's forces both on land
and on sea-. (Cheers.) Several hundreds OF
the officers and men OF our ships are at pres
ent 10 the Navy, ana are TO be found on
board his M4jesty's ships i'll the North Sea,
at the DuQanelleS, ana on tne ufaOt Iou' 65
OF the world, besides those on our own yes
sells now in Government service as hospital
ships, transports &c. In addition, many
members of our statfs are fighting on the
Continent and elsewhere. Naturally this has
entailed extra work and pressure on those
left behind, but all have loyalty and cheer
fully borne the added burden. Whilst those
of our officers and men who are serving with
the Navy are risking their lives for their
country, I would remind you Of the fact
mot always fully realized or approciated)
that those who man our merchant ships are
daily facing risks aud peris unknown before,
and | consider they deserve the highest
praise for the way in which they have stuck
TO their duty. (Hear. hear.)
WORK OF THE NAVY.
1t is unnecessary for me to say anything
to an audience like this as to the splendid
work Of the Navy during more than nine
months of the war. We have suffered the
loss Of two ships, the Potaro and lamar, as
mentioned in the report, and the South
American route was menaced by enemy
cruisers to a greater extent than any other.
Thanks, however, to the energetic action Of
the Navy. the process OF a%ttrition' went on
rapidly in those waters, and the high seas are