Osaka, July 4.
A Japanese-Australián shipping pool agreement has been signed between representatives of shipping interests of the two countries, it was announced here today.
The agreement was signed by Mr. Masao Soda, chief of the Kobe office of the Nippon Yusen Kaisha, and Mr. A. E. Martin, representing Australian interests.
As a result of the agreement, which will be in effect two years, 77 per cent. of the trade goods will be carried in Japanese ships, while 22 per cent. will be transported in Australian vessels.
The agreement was reached by mutual concessions, according to the terms of which Japan conceded Australia 2.5 per cent. in the shipping pool for the return voyages of Australian vessels, while Australia conceded the, same percentage for Japanese ships.—Domei.
Text read from the printed page and cleaned; old type leaves the occasional error.