New-York tribune., 1922-02-14
Ship Men Feel
Optimistic on
Spring Traffic
Many Signs Point TO Rapid
Improvement in Trans
porlai;on. Also in Build
ing: Dcnaticn Near End
Harding Policy Awaited
Government Aid Expected
to Add Stimulus to Rise
in Trade Already Noted

Evidence that the depression in
chipping has come to en- end and that
freight and passenger traffic will i'm
prove steadily during the spring is
seen hy many shipping men. Trans
Atlantic steamsh p companies are pre-
1ariug rev vessels for use at the re-
sumption Of the tourist season and are
,onaaent that 1922 will establish new
ccord. Accommodations for travellers
'e-voen the United States and Europe
ais year VIII surpass those before the
var
The fro eht situation also is consid-
rably better, although the outlook is
ot SO promising as IN passenger traf-
irc seasonal movement of grain
ne sugar has given an impetus to the
o+1ter market which has been re-
iected IN much stronger tone in the
lew weeks. spot ships are few at
ne moment and vessels can be obtained
'A,y e advances Oh the rates quoted
so months ago. Officials Of the Ship
rE board nave confirmed the optl-
sm thatis gaining ground among ship
lng men. They point to the fact that
lat fifty vessels have been placed on
'trcboat charter at 20 cents a ton.
lille several weeks ago private owners
-eeiaIed ttat the rate was too high.
Ioasiwisc Trade Gains
Similar conditions prevail in the pro-
0etcd coastwisc trade, which has been
he most profitable route in recent
laHtas because Of the lack OF foreign
ampetition. Most Of the combination
.rco and passenger ships IN use in the
-asti1g trades are becoming old.
.ttiu thc next two or three years
rs will nave to be replaced Several
contracts have been placed for new
oats, ari the shipbuilding industry is
-I cf rurioI- OF inquiries for building.
Ihc recent rise in fore gn exchange
.as given substantial! indication that
lrcnas ng power abroad is improving.
Is pointed 0ut that the marked drop
- foreign commerce in the last year
.as cAc largely TO shrinkage IN prices
d not in tonnage. Vessels Ill the
..rsocearlc routes are now sailing
lth larger carg0es than at any time in
cent months.
Await Government Aid
American shipping men are getting
t.fv confidence rom the prospect that
.la 1c operating costs with their
orc.cr con- pet.to,s. 1t is known that
ae cons-r ruction OF new ships, the Or
li-ation of several new lines and
IRE expansion OF many services are
ne.d In aseyance until Congress has
r-sd upon the Administration policy
rich will be outlined by President
s.rGing
A survey Of sentiment in Congress
rows that there Will be keen tight
-aen tne proposal for direct subsidy,
ut IL IS expected that the President
II succeed in his purpose.
Acc riding to recent information
rom Washington. the Recommendation
-i the Shipping Board which is ex-
-ted TO form the basis OF the Ad-
ps should be enabled to earn about
per cent with division cf profits
Dove tins t.gure equally between the
omparlcs and the government. This
.@" is designed to make it possible
~ American companies to put aside
suAlclent surplus in prosperous
ars TO lao them over periods Of de-
r7ssion. Shipping men have ex-
resscd approval Of the policy and
lcve that its adoption will estab-
lsn the merchant marine on per
laront basis
The steamship industry has been
thoroughly debated IN most respects
econd and third class passenger rates
r. down 20 to 30 per cent Freight
r@tes. in many instances, are one
enth OF the var figures. Vessels that
''re sold shortly after the war for
200 ton can be bought to-day for
20 90 SO q ton Wages have been
ED TO 'o per cent on the sea and
shlDy>rds Iirst-class passenger
ores a.c s'.ll high but it is expected
nHt reductions viii be made in these
before summer