New Britain herald., 1924-07-19
GERMAN SHIPPING
 AT SEVENTH PLACE
Despite War Losses That COunlr,
 Fights Odds and Comes Back

Hsmburg, Germany, July is,-Gsr,
 nan shipping claims to be fightini
 against tremendous odds In its at,
 tempt to regain its place in the sun, The loss of 90 per cent of the German commercial fleet through the gar and the terms Of surrender means that GerniaH ship owners practically have
 had 10 start anew, By taking up loans | buying back some of the ships deliV- cred 10 the Entente Nistors under the treaty of Versailles. and refraining from paying dividends in recent years, the shipping concerns of Germany have gradually worked un X post Wal tonnage Of s.s0o,00o gross register tons. which is about one half the Ger. man yre-war tonnage and which com. prises per cent Of the total world. tonnage as compared with Il per cent in 1914.
 From eleventh place in 1890 among the shipping nations of the world, Germany has moved to seventh plaes by 1924. as compared with second place in iaii.
 Count Sicgfried Roedern. chairman of the League Of German Ship Own CTS and Freighters. in a prepared statement replying to specific ques. tions, gave the following picture oj shipping condition:
 Tn i9ii the German merchant ma. rlnn occupied second place among th. merchant fleets Of the world as far az actual tonnage was concerned. H then comprised 5.200,0oo gross regis. ter tons and was surpassed only by Great Britain.
 Lost Half pf ships.
 Tn the course of the war Germany
 lost about half of her ships through seizlro sinking, etc. Next, in accord. arce with the terms Of the Versailles treaty. she had to give np apprcKi- mately the second hslf Included among the vessels that had to be turned over to the victors were all the larger passenger boats. The Germans were permitted to retain only the ships under 1000 tons and one-hai the vessels between 1000 and 1,6oo tons. By the peace treaty and the German legislation resulting there. from German shipping was compelled 10 pay a part of the war bill in- mediately in kind. by giving up not only the ships already in the service, but also those under construction.
 Tt was the sense Of the Treaty of Versailles that this delivery by prl- i. I~I payment on account by the German Empire and hence 10 be refunded to the individual concerns by the Ger man state. The financial condition of the Reich made complete indem- impossible. An agreement was therefore reached between the government and the ship owners, by which the latter were to receive an amount sufficient to rebuild but one- third of their pre-war tonnage. Be- cause of the inflation of the last years the indemnity payments of the gov ernment did not suffice to rebuild the third of the old tonnage agreed upon. Besides. in distributing the gov ern- ment indemnity. the small ship own CTS were to be given the preference, sO, tltl lllOel pl lIS ldI SCI CcHCSlIS were able to finance replacement program of but 20 per cent of the pre-war tonnage out of the funds fur nished by the government. The fact that the larger concerns never theless rebuilt on an average one hrd of their old tonnage, is due solely to their watering their stock and assuming new debts.
 Merchant Marine Increased
 "Due to the fact that a number Of small and middle-sized concerns were able to exceed this program, and that several new companies have been ounded, the entire German merchant marine has now. upon completion of he reconstruction program, been brought to o,S0O,ooO tons.--in other words, to about one-half of the pre- var tonnage--both by new construc- ion and through the re-purchase of 'esscls delivered.
 Compared with the former feet he present comprises comparatively CIV purely passenger ships and more mixed freig ght-and- passenger vessels s well as freighters pure and simple. The fact that these newly constructed hips are equipped with modern ma hinery does not counterbaance the act that the total value of the ships as depreciated over the pre-war alue.
 "Germany has taken up her princi- al former routes. such as those to forth America, South America, the Orient, Dutch East Indies, and Aus ralia. The tonnage at the service f these routes is, of course, con- dcrablly reduced, especially since reatcr emphasis must now be placed pon the routes to Sweden. England nd Spain inasmuch as Germany's reduction of iron and coal has been diminished as a result of he peace treaty.
 The indemnity payments for the ,erchant vessels delivered were con nued only until March, 1923. Since nat time no additional payments ave been made b.- the Reich for the ncomplcted part of the reconstruc- on program.
 The building program undertaken s result of the indemnity payments now complete to within four or five hips. It is self-evident that for 'ars to come the building pace of 1e last years of reconstruction CT yen of the years before the war can. ot be kept up."
 
 nanUn Tn arNtruraN