American shipping during 1932

Title

Creator

Dollar, Stanley

Language

English

Source

The American Chamber of Commerce Journal Volume XIII (Issue No.1) January 1933

Year

1933

Rights

In Copyright - Educational Use Permitted

Fulltext

January, 1933 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 7 American Shipping During 1932 By R. Stanley Dollar President, Dollar Steamship Lines, United States Lines and American Mail Line That confidence and optimism have returned, not only to shipowners but to all other business and trade activities, is the big factor to be considered in the United States today. Out of the depths cf dr ion the mid-year brought a shadowy, alm xinperceptible change for the better. So t .ustomed to economic hard ships, business men of the nation hardly could credit the fact that the upturn had started. Then from all sides seemed to come the glad opinion, “things are getting better’’. This rose to a cry which swept from Atlantic to Pacific. Then confidence and optimism took command and what at first was but a filmy improvement was nursed into strength, until today the United States is going ahead with a firm, steady stride which eventually will lead to the goal of “good times”. In my opinion this trend toward betterment is not temporary nor is it a mere spurt in business which will dwindle after a certain period. Each iX brings new lines of commercial activity which join in the opinion that the backbone of the Depression has been broken and that normal times are returning. Reemployment is on the way and that is of major importance. We never will be back to true prosperity until our un employed once more are busy. Every effort is being made by employers to bring about this happy condition. That prosperity is immediate, or as so often described as being “just around the comer” is over-optimistic. But, with the confidence which has been reborn in our people by this trend toward good times I feel there can be no failure in the battle of business against an economic depression, such as the United States never knew before in its history. Depression took its hideous toll of bankruptcy and priva tion; death too being credited to it. The days since the auturrfn of 1929 are not pleasant to contemplate. But it seems the inroads of this enemy of progress have been checked. Our people are prone to forget the past and face the future with a smiling confidence which can bring them nothing but success. Confidence is an invaluable ally. That shipping is looking better and better is an opinion I have reiterated frequently in the past few months. Volume is increasing gradually and I believe will continue to pick up steadily. Shipowners and operators can afford to take cheer in the trend of the last few months. It is a certainty that we could not have reached a much lower level than observed some six months back. This country’s history is that we never stay on one level long; we move either up or down. We had about reached our limit of descent, so upward was our natural course. The minute a revival is noted in any form of business, the transportation industry feels the effect almost immediately. Some where some form of transportation benefits. Thus shipping and other forms of transporta tion are good to watch as a weathervane. There can be no question but that sentiment among the shipping fraternity in this country is much better. However, shipping men are not unmindful of the fact that there is still much surplus tonnage in the Trans-Atlantic trades, with new Italian lines, the English and French liners and other ships planning to go into commission soon. The volume of merchant shipbuilding through out the world for the first time in fifty years has fallen below the 1,000,000 ton mark, as was recently revealed bv Lloyds Register of Shipping. Decreases wore reported in the quarter between June and September by all nations except Japan, which showed a slight increase. In the case of the United States this comparatively slight decrease may be described to completion of vessels in our govern ment’s ambitious merchant shipbuilding pro gram, which was made possible under the pro visions of the Jones-White Act. Notable in the 1932 list of completed ships which were built under the beneficent scope of this Act, an aid which did more for American shipbuilding than anything in the history of the industry, appear the United States Lines Manhattan, the largest ship ever built in our country; the Monterey of the Matson Line, with their “Lurline” rapidly reaching readiness; the Grace Line’s Santa Rosa, with three sister ships crowd ing close behind her, and the Chiriqui, Antigua, Veragua and Quirigua of the United Fruit Company. That the volume of shipping has fallen to a low not recorded in fifty years may be explained in part by the fact that ships planned before the slump of three years ago have reached com pletion. In the hitherto depressed state of the world no new ships were contemplated and building naturally was slowed down. It is to be hoped that the trend toward good times will rehabilitate commerce to such an extent that continued shipbuilding at the former rate will be demanded. -When the turn for the better came around the middle of this year, shipping seemed to feel its effect almost immediately. Several big spurts in the Eastbound intercoastal trade (North Pacific to North Atlantic) and also to the United Kingdom were noted, but as is usual with such sensational advances they soon declined. However by now there has been a good pickup in many routes, notably the Oriental, Hawaiian, Australian and Westbound Inter coastal, all showing steady gains which are holding. Every service in which the Dollar Line is engaged has shown slight accumulative gains in tonnage since mid-summer. Of our country’s volume of laid-up tonnage, a bit of it has gone back into service since summer and more may be expected monthly. Despite previously disturbed conditions it is noticeable that conference control has been restored to a great extent after a moderate breakdown in 1931. In many cases rates have been raised, but of course not to the levels prior to the dissolution of the conferences. However, bulk freights have been and still are moving at very unattractive rates. Conservative management and cheaper op eration are two lessons which came out of the difficult period of the depression. Coupled with the upturn which is now seemingly assured these two elements will be invaluable aids in bringing back shipping to the position it once held. Necessity of retrenchment taught ship owners, not only in the United States, but elsewhere, new ways to operate and still provide adequate and efficient service. Closer cooperation of shipowners of all nations, in trade routes all over the world, is absolutely essential in order to hasten the return of prosperity to shipping. With this accomplished, equitable rates could be establish ed and maintained, thus placing shipping on a firm basis. In conclusion, I believe that the present rate of gain shown in America shipping is indi cative of a material upward trend in business of the world, for the improvement in this in dustry in one country cannot fail to react favorably throughout the world. Just How “Wearing”... [Continued fr^m page 5} sudden rebellion, not one has harbored the temptation. It was not easy for John Adams to see Jefferson sweep his Federalists out of Washington, nor for John Q. Adams to see the West marching into power with the rough-hewn Jackson, nor for Johnson to see the majorities in congress, over his repeated veto wielded to save the constitution, ride roughshod over the defeated South. But Johnson would use no power beyond the little congress had left him, and the use he could make of the courts in defense of the constitution, to avert the wrath and vengeance of congress. He lived to adorn the senate that tried the impeachment charges brought against him by the lower house. He lived to have his oldtime enemies for friends. Not least among the presidential upholders of the constitution will stand Calvin Coolidge, when the biogra pher delves the record. In the Philippines he will be remembered for unswerving, though unobtrusive, opposition even to toler ating the thought that the islands should be separated from the United States. Compromise Independence Bill Full Official Text Complete in this Issue Begins on Page 15 This ParkeDavis ger micidal soap is a wise pre caution against skin infections of all kinds. IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL

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