Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1915-11-05

ferred from foreign to American reg
istry.
These figures do not include the
II vessels, OF 44,251 tons, recently
purchased by the American Transat-
lantic company and recently admitted
to American registry.
Largest Since 1868.
''The annual report of the commits
sioner of navigation for the year end
ing June 80, 1915, shows the proper
ton of American shipping registered
for the foreign trade. as follows:
Number of vessels, 2,76S; ton
mage, 1.S13,775.
"This is the largest amount of tom
mage registered for the foreign trade
since 1863. The present tonnage is
many times more efficient in carrying
capacity than at any period in the
past, as it is composed chiefly of
steam vessels, whereas the tonnage of
the former period consisted chiefly of
sailing vessels. OF these vessels more
than 800 measure between 5000 and
10000 tons.
1.-THE latest available figures of ton
mage in the foreign trade entered and
cleared at American ports are those
for the year ending June 80, 1914, as
follows:
Total tonnage in foreign trade en-
tered and cleared at American ports,
106,571,986; proportion Of American
tonnage included in foregoing, 27,-
47o.703; per cent American, rs.
Total value of foreign exports and
imports. $37.7s5.46s,512; proportion
Of foregoing carried in American YES
sells. $368.359,756; per cent Ameri-
can, 81.
| 1.-THE apparent discrepancy between
the proportions of tonnage and values
carried in American vessels IL due to
the shipment of precious freight Tin
GLIDING bullion) in foreign vessels.
The proportions of tonnage may
therefore be regarded as affording the
u1ObL IcAl6UA0 UdSlS Vi GOnpdIl6Ous
Many Vessels Building.
"On July / of the present year
there were under construction in
American shipyards IS steel merchant
vessels, of 29s,426 tons, the highest
figure since 1907. The tonnage being
built on this seaboard is greater than
in any previous year in the history of
the country.
"The prices paid for new tonnage
are from SIS to SIS per ton higher
than those of year ago, and the
profits of the shipbuilding companies
are proportionately larger. The de-
mand for vessels exceeds the present
output of the yards several times
over.
ut is reported that the stock of
the Cramp Shipbuilding company,
which has paid from 10 to 1914 per
cent in the recent past, is now earn
ing from 25 to 80 per cent, and in
vestors express the belief that shares
will go to much higher level.
"The International Mercantile Ma
rine earned profit of $11,000,000
during the six months ending June
I30, 1915, after deducting deprecia-
tions charges of about $2,750,000.
Assuming the prospects of the present
half year to be equal to those above
quoted, the business of this concern
will show profits of $22,000,00O,
after deducting $5.5O0,OO0, or 8 per
} cent, for depreciation charges. The
} average earnings for the preceding
} five years were $A656.3S7. The
present earnings show an increase in
profits of more than 1000 per cent.
"a certain steamship sailing from
San Francisco recently earned in ex-
| cess of $4,000 per day on voyage
to Australia. The profit on the re-
turn cargo will probably increase the
| total by so per cent for the round
voyage. This vessel cost 100000
, when new, and it is estimated that
she will pay for herself during the
present year.
: Grain freight from coast ports tc
. Australia and the United Kingdom
have gone as high as 100 shillings
t recently and it is believed they may
! yet go as high as 200 shillings. The
: present average is about 80 shillings
: exceeding the highest figure paid dur
: ing the past 80 years.
"There is unprecedented activity In
e shipping in this port. Many small
2 coasting vessels are being taken of
= the trade under charter to enter the
8 foreign trade at fancy figures.
MANY lake vessels are being put
8 in the ooean-carrying trade, notwith
1 standing the great expenditure neces
: sary to cut them apart in order thai