The "Japan Times & Mail" says:
Rate wars and fights for ecdrgoes are now waging between nearly every tramp steamer and their owners. This is particularly seen among ships plying in trade between the Pacific ports of the United States. and Japan where the vessels are pursuing their independent courses im Securing cargoes. This tendency has caused no little comment amongst shippers, and testifies to the low ebb in shipping circles.
The participation recently of the Yamashita Kisen Kaisha, the Itaya. Kisen Kaisha and other tramp ship companies in the Trans-* Pacific freight service has thrown the shipping on this route in general disorder. This service up to now had been well organized and running smoothly.
While the Trans-Pacific Conference freight rate is fixed at $9 per ton on general merchandise, the tramp vessels are charging less than half this price in order to get cargoes, the rates being anywhere from $3 to 5 dollars per ton, and others cheaper. Some of the' vessels operating under the Conference rates have cut their rate to $6 to compete with the tramp vessels, but this has done little or no good, since shippers prefer the boats with the cheaper rates.
It is thought that the Conference will have to be dissolved if affairs continue in this state, thus leaving the shipping companies tu set their own rates, and therefore cutting the freight rates down to the very lowest figure to get full cargoes." This will lead to a very serious condition which is apt to damage one of Japan's best commerical sea routes, it is believed.
Text read from the printed page and cleaned; old type leaves the occasional error.