New-York tribune., 1921-10-30

Every Factory
Busy DESPITE.
Money Crisis
Experts Assert Econom;.
Activity and Financial
Weakness VILE Lead -
Crash Sooner or I..,s.'

Nhasn sooner OF Later
their shares from falling into fo,s;.
hands, because Of the decline of :
mark. the German companies ;ssrss
new shares with multiple voting nov.
The lead in this idea was taken bv e.
Hamburg American Line TIE lsgsi;.~
of this action was challenged and !.
has been discontinued The shipn;..
outlook, however, has now becons -
encouraging that many Of the cor
panies have embarked upon constrro
ton programs of their own in aaai.,o.
to those they are executing unde~ -.
government indemnification plan. IT,.
capital invested in these new proor.,n-
is amply protected against any poss;-
bic foreign control. Most Of the shsr..
have been taken up by industris. !.
lied or affiliated with the shinn;oa
companies, thus facilitating the process
Of consolidation now Jl Ter way in al
German industry. This process of com.
bination and consolidation is the mos.
important factor in German indus,-,
to-day. 1t is process which is uni.
flying all German industry by eliminat-
ing all destructive competition and d;-
recting all efforts toward the one biy
idea of increasing production and re.
ducing waste to a minimum. Il Is
GU +ea,,, Ia- Il 10 x-tg .ln%
without eliminating that measure %
healthy competition which may still
be necessary to achievement. Thus
to return TO the shipping situstion--
the Woerman and East Africa lines
are now controlled by Stinnes the
Hamburg America Line and the Nord.
deutscher Lloyd; the German-Austral-
ian Line and the Kosmos have con.
cluded a working arrangement for
eighty years; the Hamburg American
and the Hamburg South America are
working together after exchanging
preference shares; the Roland and the
Hamburg -Bremen-Africa are now con-
trolled by the Norddeutscher Lloyd and
the Neptun by the Hansa. Even South
German industry is now participating
in the development of German ship.
ping. The Ships Requisites Company,
organized by the Shipping Trustee
Bank, which administers the Stars re-
construction grant, is controlled by
South German industrial interests.
German Lines Operate
Ships to Ali Parts of World
While pushing their construction
programs TO successful execution and
constantly enlarging upon them, Ger
man lines are pursuing q very profit
able and ever growing business with
vessels running again from Hamburg
and Bremen to virtually all parts Of
the globe These vessels carry that
vast amount of German exports by
which alone Germany can pay her bills
to the Allies. This business was be-
gun principally with vessels chartered
from neutral countries, but the Get-
mans have been eliminating the chsr-
tered ships in increasing numbers and
substituting home tonnage instead
This increase has been apparent from
week to week, and if the Germans con-
tinue 10 build ships at the rate they
have been building it Will not be very
4 loper bof Car,,,o, will he
carried in German bottoms. No less
than eighty-one German lines are now
running ships regularly from Ham
burg and Bremen to ports in all parts
of the world.
The following table shows these lines
in operation from the two aforemea'
toned ports and countries to which
they run:
From Hamburg 20:
The Baltic NEUTRALITY-SUSPICIOUS..
I German North Sea and inland ports.
pennark ...---.........' :
Norway Norway and swed,e,n,..',............,,.. {
Holland and Belgium. ...---.---......
United Kingdom ..--.......-........
southern France ....... -.........-.
spain ana Portugal. l........--s,...'''
Mcclterranean Observation-Disclosures
Central America, Mexico. West Indies
south America ACKNOWLEDGEMENTS. =
Asia ...........
Africa Observation-Disclosures.
| From Bremen to
Gerpan ports ...-........-......
Denmark ............
l-atNit .----.. ...s.'.'
Esf.honia isfri -'....,''..'.' .'''''''
rihlahd ...-...-'-.'.''''' >