New-York tribune., 1921-03-23
British, Ships
20 Earnings
Two Billions
IL. Estimated i'm Excess of
1850, 600, 900 by the
Government; Offset to
Adverse Trade Balance
uarked Decline This Year
1921 Net Figured Less Than
$1,000, 900, 900, Due to
Depression in Shipping

cross earnings OF the British mer-
.s.ut marine during the last year were
,Asut $4,000 600. 600, and net earnings
ser $500, 100000, according to esti-
ssses prepared by the Board of Trade
ar tke British government Net re-
v;u.s from shipping alone during 1920.
,sersfore, were not far from enough to
.set the United Kingdoms excess of
;ssorts over exports for the year, and,
sish the earnings through British "in-
ss:hle trade" the unfavorabie balance
Il the country's trade was transformed
IA favorable one.
Ii the estimate prepared for the
stish government comparison is
ssae between the balance of British
:sreign trade in 1920 and that for 1912.
me 1912 balance in favor of the United
Kingdom is put at fi65, 900 900. or
s5oat $500 900 600 at the normal ex-
asngs rate.
Far Above 1913 Earnings
L is stated that latter allowing for
,hips undergoing repair the dead
aeght tonnage of British shipping en-
ugsd in overseas trade in 1918 is esti-
mated at about 25,000,0oo tons, and the
average rate about five shillings per
isadweight ton rer month. British
aanksrs in the foreign trade were 81
$4,000 tons, st an average of is shil-
ings a ton. Further charterers' out
geings were bunkers purchased abroad
ssd port dues"
On this basis, tlte figures nrrived at
ior 1918 are: Charter money, f75,000,-
100; hunkering in United Kingdom
Nrts $4,000 900; bunkering in over
seas ports, s6,0o0,000; port dues, fl2,-
10000. total Of f11O, 100000.
For 1920 the figures are given as:
Charters "a 100000 lightweight tons at
y shillings ton month";, f2SS, ,0OO,-
no; bunkering in United Kingdom
sarts sl3,S40 900 tons), e66,co0 900;
5aakeying in over seas ports, G30,O00,-
s Port dues {at two shillings three
asace ton deadw'sight q month";, e32,-
$4,000, a gross total of f416,000, 900.
Gross Income a4o0, ,0o0, 600
The Board of Trade places the 1920
gsss income, in round figures at f4oO.-
$780,, adding that deductions must
male for bunAers and stores bought
il foreign ports and for foreign port
ines. For foreign bunkers. it is esti-
aalsd, s6,0O0,00o should be allowed
spr 1918 and $50 100000 for 1920; for
sarss about one shilling per dead
Tsight ton per month for 1920, as
igsinss three shillings in 1920, and as
'InlHg the proportion of foreign
iares to reach one-quarter of the
ssole. the amount would be $4,000 900
aslS and about eli 900 900 last wear.
IAN the port du < would likewise be
adutted as being foreign port dies.
he net result-that is,- the national
some from shippings would thus
ssk out at G94 100000 in 1918 and
A,0c0, 600 in 1920.
The result OF the depression in ship
Hag during the last year is indicated
the fact that the British Board of
fsade at the beginning of 1920 esti-
asted the national income from ship
ing for the year at $500, 600, 900 and
4 August revised the estimate to
Ao'o0o,0Oo so that further cut of
aM000,00 has since been made.
Against balance of imports over
Worts in 1920 of a378,S0O 900, must
placed excess bullion exports aggre-
;atIng e43, 10000 The net incom e
ilom Investments abroad is estimated
4 ksl2o,O0o, coo, and from banking and
tier sources 940,000,00O. With ma
asnal 10 income from shipping of $780,
MM0s therefore, invisible exports"
atal s5o0, 100000, leaving net trade
osance in favor of the United King
'dm Of approximately s165 100000.
Under the present conditions of de-
pEession, the British report points out,
10y attempt to indicate prospects of
snpping for the whole of 1921 must
e IN the nature of guess. A rough
stlmate is given. however, of the
TOSS earnings for this year. Charter
aoney is put at f130,000,00O; British
sunssrs, f44,o00,0O0; foreign bunkers,
ssls'ooo,O00; port dues, s30,oo0,oO0 a
osal ., Of s219,000.000. Deductions of
ss4,vae'ooo for the estimated cost of
sunkers and stores purchased abroad
ssve net national shipping income
iof 1921 OF e185. 0OO 0OO