Rates Reduced from $12 to $4.50
Per 100 1b, Hongkong, Oct, 12, By cutting the freight rate on' silk from Hongkong to the United States from $12 to $6 per 100 Ibs. the United States Steamship Company started a rate war.
The silk firms on Shameen, Canton, for the most part, signed agreements to give all their shipments to United States Steamship Ca. for two sears in order to secure this rate, The Conferenice lines retaliated by reducing their freight rate on silk first to $8, then to $6 and now to $4.50 per hundred Ibs. The United States Steamship Ca. ie now meeting this last figure, It is expected that the rates may. drop much lower and there even seems to be a possibility that silk may soon be carried without charge, The United States Steamship Company have also cut freight rates rubber and several other items
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