The New York herald., 1922-10-29
CHARTERS IN WEEK
SHOW FALLING OFF
Indicate Difficulty to Get
Freight to Seaboard and Is
Only Temporary.

There was a notable falling off in the
amount of chartering done locally during
the last week, but there were many indi-
cations that the lull was only temporary
and reflected not a real dearth but the
difficulty i'm getting freight to the sea-
board. Rates for ships ready for imme-
date loading. therefore. showed sag
ging tendency. whereas for the most dis
tant positions a gratifying steadiness
was manifested.
Anything resembling a collapse in
grain rates did not develop. despite the
lack Of orders. because ships were NOT
offered at all freely Owners appeared
willing to wait for a better market in
many instances, and in other vessels of
small and medium sizes were diverted
10 the West Indies time charter trade.
where n brisk demand was in evidence.
Montreal stilI Congested.
No real Improvement was shown in
the port situation of either Montreal or
the north Atlantic. The Canadian port
is still heavily congested with tonnage,
recent advices saying that sixty to
ninety steamers are awaiting cargoes
and many of them have passed their
loading dates and are incurrlng heavy
demurrage penalties. Charterers in
some instances obtained owners per-
mission to send steamers to Quebec to
load there, as better dispatch seemed
assured despite the inferior facilities.
Most shippers now will not consider
tonnage for Montreal loading without
the option of ST. John, N. E., or Hall
fax as alternative loading ports. The
car shortage priorities and other dis
turbances to normal rail transportation
ere still preventing deliveries at United
States north Atlantic porte. and Buff
falo. Duluth and other inland points
are choked with grain that otherwise
would be on It's way overseas or await
ing loading at New York or nearby
ports.
Virtually all the business from Mont
real and the north Atlantic was done
for west Italy and other Mediterranean
points, and here the demand was suf
ticient to hold rates at their recent
levels. To the Continent. it was indi-
in order if any business were actually
concluded.
Smaller Boats in Demand.
In West Indies time charters the de-
mand is for the smaller boats for round
trips or periods up to six months. Sizes
UP to 1000 deadweight tons are getting
So a ton a month. and from this the
rates range down to 81 for vessels Of
5000 tons. The demand is good and
rates tend to stiffen.
A few coal orders, United Kingdom
to United States north Atlantic ports.
are still available at shillings to
shillings pence ton, but this busi-
ness is now generally regarded as about
finished. The only local demand for
tonnage Is from sydney, c. b.. to Mont
real or Quebec. and in this trade char
terers appeared pressed for prompt tom
mage because of the impending closing
OF st. Lawrence navigation. Rates have
advanced sharply from 70 cents to S5
or 80 cents for single deckers with free
loading and discharge.
Liner business. as distinguished from
tramp or full cargo trade. was not
satisfactory. except in the intercoastal
trade of the United States and to the
United Kingdom. where a gratifying
increase in traffic was noted. Inward
movement is especially dull, as the
effect of the tariff is being felt. The
rush to get goods into the country be-
fore the new duties were made effective
has spent itself. and there are now
on this side large stocks of the COM
modities on which the law falls most
heavily.
Whether inward traffic TO the United
States will be affected permanently Is
still an open question with steamship
men. 1t is pointed out, however, that
the heavy bulk products that count
most from a shipping standpoint, in
cluding wool. hides, sugar and other
raw materials, will continue to be I'm
ported despite the big duties, whereas
II the finer products of finished manu-
facture are barred the loss to shipping
will not be great.