Word: tradings
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Dates: during 1930-1939
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Shanghai. At the mouth of the Yangtze is commercially and financially the New York City of China. North of Shanghai coolies eat wheat and speak an approximation of Mandarin. South of Shanghai coolies eat rice and speak Cantonese. Until 1842 the Manchu emperors refused foreigners the right to trade at Shanghai, but in that year a British fleet sailed menacingly up the Yangtze and by a treaty signed at Nanking five Chinese cities were opened for trade and settlement. Subsequently most important of them was Shanghai...
American Export Lines is a sturdy little concern whose sturdy little boats (none bigger than 9,350 tons) carry about a third of the freight (not including grain) between the U. S. and the Mediterranean. This is the second richest trade route in the North Atlantic, and American Export has no U. S. competitors for it. Hence it is in a better position than many other U. S. lines, made $643.000 last year with the aid of a Government subsidy of $1,479,000. Said Lawyer Kenneth Gardner who pleaded for the new airline before the House Post Office Committee...
...better as 957 ships, for only that many actually engage in foreign competition. By the most significant definition of all, the U. S. merchant marine is the ricketiest collection of tubs owned by any important nation-85% over 17 years old, carrying less than 40% of U. S. foreign trade, grossing an estimated $200,000,000 a year or about as much as the soft-drink business. But soft drinks make money, while the merchant marine operates at a tremendous and apparently perpetual loss...
That foreign trade is a losing game, for them at least, is the shipping man's plaint the world around, for the following reasons : 1) there are too many ships; 2) depressions, tariffs and a thousand unpredictables hobble it; 3) profitable trade routes fluctuate as the breeze but commerce demands regular schedules. U. S. shipping men face the added complication that U. S. ships cost more to build and operate than foreign bottoms because of the higher wages of U. S. Labor. Astraddle this situation, which the Government has at last given full recognition after years of such temporizing...
...emergence of Secretary of State Cordell Hull as the New Deal's most successful liberal and the integral relation between his 16 foreign trade treaties and U. S. ships; how the Matson Line has edged the wave-ruling British from the South Pacific; how American Export Lines almost made money without Government aid (see p. 30); how Lykes Bros, could lose $7,000,000 in the Gulf in seven years and still net $4,200,000; the diligent falderol and doubtful fun of a cruise to Havana; Maritime Labor; eight typical U. S. ports in paint, seven typical seamen...