The Cook County news-herald. [volume] (Grand Marais, Cook County, Minn.) 1909-current, 1916-07-19
NORWAY.

Perhaps no neutral country has de-
rived so much advantage as N orway
from the abnormal situation brought
about in the shipping world by the
war. One of the reasons for this was,
OF course, the size of the Norwegian
mercantile marine, which ransed
fourth among the commercial fleets of
the world, and another is that Norwe-
glan shipping, instead of being to any
considerable extent organized into reg.
ular lines, as is the case with the ship
ping Of England and Germany, is
mostly devoted to the tramp" trade,
and therefore is highly mobile. Al
ready during the last months of 1914
Norwegian ship owners had made huge
prohts, but the swift upward leap O!
freight rates in the course of 1918
brought such golden harvest to them
as they had never known before. ONLY
few voyages sufticed to bring in ne.
profits which largely exceeded the
whole capital Of the companies con-
cerned. Even at the most inflated
prices the investment turned out well.
as dividends Of so and 100 per cent
were not rare. In the case of the
Felix company and the Grefstad &
Herlossen company dividends of 200
per cent were distributed for the year
l?l3. The consequence of the prospect
OF such huge returns as these was that
new companies sprang into existence.
and in some cases the founders had
not the slightest idea Of where they
were going to obtain the ships with
which to carry on the intended bust
ness. Recently Norwegian shipping
paper published an estimate, which
did not profess to be complete, that in
the year 1915, n new shipping com
panies were founded in Norway. with
total capital of about $17,73OOOO.
Existing companies also raised new
capital to the extent Of $5.5OO.OOO. A
similar activity has been going on dur
ing the present year, and it is esti-
mated that so far SIS new companies
have been formed. with total capita|
Of So, 600 0N0. while three old concerns
have increased their capital by S1.4OO,-
600. In Germany, judging from recent
articles in the Hamburg press, these
developments are causing no small
amount of concern. because it is re"-
ognized that there is an absolute GER
'ainty that another powerful COMPETE
tor is arising, who will enter into for
midable rivalry with German shinning
after the war is over. It is true that
most Of these new Norwegian comp:l-
MES have acquired ships from Greece,
Spain. Portugal and other less impnr-
tant maritime countries, and have paid
high prices for old vessels. which
mostly do not come up to modern re-
Quirements in the matter of cargo ca
pacity, safety and speed; hut ut the
same time it cannot be denied that
these old tramps, in the hands Of
aStute, businesSlike Norwegian own
ers. who are not hamperel by re-
Strictive legislation. are more powerful
weapons Of commercial warfare than
they would be in the possession OF
their former Portuguese or Spanish
owners.
Hiss Molla BiurStcdt from NORWAY,
and George NJ. Church. intercollegiate
champion. won the mixed doubles clay
court title by ls>ating Mrs. Harry
Rickel of Toronto and Conrad Doyle
in two straight sets 81, 60.
A salmon weighing about 81 pounds
was recently caught in OsterfjO and
hotel keeper in Bergen paid $50
for it.
The sO-called Monks church in STAY
anger. which is a relic from the middle
ages. is to be repaired at cost of
$4,000. In connection with the cathe.
dral it is to he used for confirmation
classes, weddings, baptism services.
etc.
About three N >nths ago the ci1y
government Of Trondhjem opened a
public fish store. During the first
month $3.50 sales were made, and
there was 4 handsome profit, thougS
the price was reduced as4much as 81
per cent on certain kinds ct ash.