Local shipping offices are rather more than interested in the news just to hand through Reuter of an arrangement concerning freights between American North Atlantic ports and the Far East. The message states that 14 of the companies engaged in this trade have drawn up a new scale of freights, higher than those now in force, and to guarantee maintenance of these rates have each agreed to deposit a sum of $25,000, It is with some thing akin to feelings of relief that this news has been received by shipping people whose lines operate on this run, for the amount of cutthroat competition that has been going on there in recent days has probably been exceeded nowhere else. The fact of the matter seems to be that competition has reached a state where not only are no profits available, but in order to get the trade very heavy losses have been incurred by the companies It is known from experience that this business of freezing out competitors is by no
Text read from the printed page and cleaned; old type leaves the occasional error.