The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1916-03-14
JAR SRP NlRlS
RUSHED 10 L!M!.IZ.
!, Fortunes Have Been Made
And Prices Are Still
Rising.

TOXIC, Feb. TT Correspondence
OF The Aossoc iated Press ~ The great
boom and prosperity for Japanese
shipping as a result Of the war Is be-
ing taken advantage of here to the
utmost. Fortunes are making in the
shipping business and prices for
freight steamers have risen to prac.
tically limitless. figures.
The continuing demand for more
ships has induced the Japanese De:
partment of Communications to sum
Marie the exact situation of JAPANESE
shipping. The investigation shows
that Japan's progress is not due to
the war alone, though 1t has OF course
been immensely stimulated by 1t, but
has been going on for the last fifteen
years. Japan now has 2:132 vessels
of over twenty tons register with
total tonnage OF 100000 while the
number OF vessels of over 1000 tons 10
416 with total tonnage of 1881 1903.
There are 66 merchant steamships,
each Of 5000 tons. or over, now sailing
under the flag of Japan. SIX new
freight.carrying steamships have been
launched within month.
The shortage of shipbuilding mater.
ial Is being felt in all docks, but as Tar
as the stock is available the work 10
being pushed on day and night and
some shfpowners have even offered
prizes for the completion OF a ship be-
fore contract dates. A striking exam
pie Of quick building was the steamer
Taisho Maru. recently completed for
the Hokuyo Steamship company which
was launched within three months and
a half after the laying Of the keel, and
| trimmed for navigation in three
weeks. That ship Of 5000 tons was
completed in such short period is
a record in the annals Of japanese
shipbuilders.
Japan's great commercial fleet has
come into existence since 1884 when
Japan really began to build ships OF
iron. For a period Of about 200 years
between the seventeenth and nine.
teenth centuries, the building OF yes
sells OF over so tons net was prohibited
by the government and it was not I'M
til the arrival Of Commodore Perry
from the United States that Japan be.
came awakened to the necessity OF
laying down ocean.going vessels. The
steel vessel was built in 1890.
In recent weeks the ocean trade has
shown signs OF increasing activity and
everywhere is heard complaint Of
shortage OF tonnage. In the cement
market, for example, the paucity OF
freight space has caused a big conges'
ton. At the Moji alone 10000 barrels
consigned to Singapore are waiting
for ships to take them away. The con.
gestion in cement is partly due to a
controversy over carrying rates, the
shippers offering 75 cents per barrel
az against As cents some time ago.
The shipping companies are standing
out for a dollar. a barrel Similar dis
mites are arising weekly in other
lines Of goods as the boom In trade
on the New ork.Yokohama or
Shanghai line the boom is now at It's
height on account Of the temporary
closing Of the Panama Canal and the
prolongatton of the route. Returning
to the Far East the vessels from the
United States are loaded with war
munitions for Russia.
On the Bombay route trade Is more
active than ever, because tho Japan
ese.1ndian trade in cotton and other
goods Is progressing with wonderful
Rapidly. On the outward trips every
liner has her holds full of miscellan.
eous articles for India and on the
homeward voyages raw cotton fills up
every inch OF space. The average
rate per ton has ruled at 25 ven OF
about $3.50 during the past week:
A new plan has been started by
some ahipowners who have made the
most Of the recent shipping boom to
stabilize their position against posi-:
BILE reaction after the war Is over. IL
consists in floating a big banking es.
tablishment designed to deal in all
forms Of loans secured on the mort.
gage OF ships. The project has al
ready assumed definite form.
The house under contemplate will
have Its headquarters in Kobe and
branches in some important cities in
terested in the trade. The authorized
capital will probably be $5,000,000.
. ID l . Il :. +. -. E I'd