The homeward River Plate trade was subject to sharp vicissitudes during the year. In January the minimum rate was increased by 2s 9d a ton to 25s, though the average market rate for that month was about 32s. The rate declined to about 26s in February, when a gentleman's agreement among British and foreign owners was formed to maintain an unofficial minimum of 27s 6d.
The market then improved as a result not of the agreement but of a revival of demand, and the rate reached a peak of 38s in September.
The gentleman's agreement was s|Tevived on a 30s basis, àt could not be maintained, and during the closing weeks of the year the official minimum of 25s became the actual market rate. The chief feature of the North American market, and one of the outstanding features of the year in freight markets generally, was the heavy chartering of tonnage for wheat and maize shipments from United States ports on the Gulf of Mexico as the result of the resumption of United States grain exports. a Rates fluctuated between 6s 3d per quarter in September to 3s 1d in December, basis Antwerp or Rotterdam.
The minimum rate for grain from the St. Lawrence, St. John, Halifax and the United States Northern Range was raised in January by 3d a quarter to the basis of 2s 9d. Shippers secured numerous vessels at the minimum rate, but from ANigust the market improved and as much as 5s to U.K. ports was paid Chartering of tonnage for scrap cargoes from the United States was sporadic, the most active month being November, when about 60 vessels were chartered for various European destinations.
The North Pacific market provided considerable employment in lumber cargoes to the United Kingdom, Australia and the Far East. Rates to U.K. ports ranged between 24s and 47s 6d.
Eastern markets absorbed a large volume of tonnage fairly steadily To-day, Feb. 1, 2, 3, Gala Children Matinees at 9.30 a.m. and 11.00 a.m.
Text read from the printed page and cleaned; old type leaves the occasional error.