London, Oct. 23.
The British Subsidy' Act—has: undoubtedly saved the British tramp shipping industry from collapse.
'This gratifying report is made by the chairman of the administrative committee in reviewing the first six months' operation of the subsidy, which he says, has enabled the in. dustry to reorganize, to minimize domestic competition, arrest the fall of freights and contribute to the international rationalization of tonnage.
On July 1, 1985, there were only '71 foreign-going tramp vessels laid up in. the United Kingdom as compared with 125 on April 1—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.