Word: jute
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Dates: during 1920-1929
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From Calcutta there go each year to New York and Boston 68 great vessels bearing cargoes of jute fibre and burlap cloths, raw materials for carpets, rugs, bagging, sacking, scrims, tarpaulins. Homely though the cargoes be, they bring a nabob's revenues to the ship owners. To gain Indian trade, ship captains two centuries ago piratically cut each other's throats. Last week operators seeking the same trade punctiliously cut their own rates...
Their ships have carried practically no jute. The Isthmian Line, potent ship subsidiary of the U. S. Steel Corp., have carried four cargoes a year, the Cunard-Brocklebank Line two each month, and the Ellerman- Bucknell Line (oldest in the trade) the rest. They had old, excellent contacts with the chief U. S. importers of jute-the Bemis Bag Co., Ludlow Manufacturing Associates, Chase Bag Co., American Manufacturing...
...year ago when the Indian jute shippers were making their 1927 cargo contracts, the Roosevelt Line asked for a free hand in securing 16 ship loads. The intrenched companies politely laughed at their bumptiousness...
Last week contract time came again and again the Roosevelt Line sought to break into the jute trade. Nor did they come softly. They brandished before the eyes of shippers and importers of jute a freight rate card. That card offered to carry a ton of jute from Calcutta to New York or Boston for approximately $4. The rate had been $7.90 a ton. The Cunard-Brocklebank officials read the Roosevelt Line rate figures and, counting well on the loyalties of old clients, reduced their rate to $4.50 a ton. A rate...
...business turn for the textile companies may be at hand. U. S. cotton is priced exceedingly low and people in the U. S. are buying more and more domestic-made cotton goods, importing less; and the movement to use coarse-woven cotton bagging, instead of imported jute, has started...