New Britain herald., 1916-03-30
WAR bIG AID TO
 JAPANESE SHIPPING
Sons Of Nippon Making Fortunes
 in Mercantile Marine
of The Associated Press.)

TOkiO, March lZ.-lne great DOoIl l and prosperity for Japanese shipping ] as a result of the war is being taken l advantage of here to the utmost. For | tunes are making in the shipping busl- 1 ness and prices for freight steamers have risen to practically 1imitless hg- l ures.
 The continuing demand for more ! ships has induced the Japanese De- nartnoent of Communications to sum- marize the exact situation of Japanese | shinning. The investigation shows | that Janan's progress is not due to +be war alone though it has of course bee, immensely stimulated by it, but has been going on for the last fifteen wears. Japan now has 2,132 vessels of over twenty tons register with a total tonnage of 1, 1,604,900 while the number of vessels of over 1000 tons is 416 with a total tonnage of 1,331,- 3O3. There are siXty-siX merchant steamship; each of 5000 tons or over, now sailing under the flag of Japan. Six new freight-carrying steamships have been launched within a month
 Shortage of Material.
 The shortage of shipbuilding ma terial is being felt in all docks, but
 
 work is being pushed on day and night and some shipowners have even offered prizes for the completion of a ship before contract date. striking example of quick building was the steamer Taisho Maru, recently com pleted for the Hokuyo Steamship company which was launched within three months and half after the nf vi cd navigation in three weeks That a ship of 5000 tons was completed in such a short period is a record in the annals of Japanese shipbuilding.
 Owns Great Fleet.
 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 ""N years, between the seventeenth and nine teenth centuries the building of yes sels of over fifty tons net was pro- hibited by the government and it was not until the arrival of Commodore Perry from the United States that Japan became awakened to the necessity of laying down ocean, going vessels. The first 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 con- gestion. At the Moji alone 60,00O barrels consigned to Singapore are waiting for ships to take them away. The congestion in cement is partly f0 rates, the shippers offering 5 cents per barrel as against 45 cents some time ago. The shipping companies are standing out for a dollar a barrel Similar disputes are arising weekly in other lines of goods as the boom in trade advances
 On the New, York Yokohama or Shanghai line the boom is now at it's height on account of the temporary closing of the Panama Canal and the prolongation of the route. Returning to the Far East the vessels from the United States are loaded with war mu- nitions for Russia.
 Indian Trade Active.
 On the Bombay route trade is more active than ever, because the Japan eSe-Indian trade in cotton and other goods is progressing with wonderful rapidity. On the outward trips every liner has her holds full of miscella- neous articles fer India and on the homeward voyages raw cotton fills up every inch of space. The average rate per ton has ruled at twenty-five yen or about $12.50 during the past , week.
 A new plan has been started by some shipowners who have made the | the most of the recent shipping boom ] to stabilize their position against pos 1 sible reaction after the war is over. It consists in floating a big banking es- l talishment designed to deal in all forms of loans secured on the mort l gage of ships The project has al ready assumed a definite form. The house under contemplation will 1 have it headquarters in Kobe and l branches in some important cities in l terested in the trade. The auth Orized 1 capital will probably be $5,OO0,000. I