Word: yusen
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Dates: during 1930-1939
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Also out for business, and willing to cut first-class rates to get it, were three Pacific steamship lines, American President, Canadian Pacific and Nippon Yusen Kaisha. Their bid: a round trip from San Francisco to the Orient during April and May for the unprecedented price of a one-way ticket -i.e., $350 to Yokohama...
...days later it was briefly announced from Los Angeles that fares on Dollar, American Mail, Canadian Pacific and Nippon Yusen Kaisha lines had been upped approximately 7%. Another 3% will be added later. Lowest Dollar Line round-the-world tours will now cost $915 instead of $888; first-class minimum San Francisco-to-Manila $460 instead of $430. With a record season since 1929 just completed, Atlantic fares are also due to move upward...
Shipping, Meanwhile the trade routes of the world were being altered. Canadian Pacific, Dollar and Nippon Yusen Kaisha Lines dropped Shanghai from their schedules. Passenger traffic to China had ceased almost entirely, although traffic to Japan suffered little. Marine underwriters discontinued (or raised to prohibitive heights) war risk insurance on all cargoes to be unloaded at Chinese ports. This promptly affected exports, for banks generally refused to advance credit on uninsured shipments. New York seamen contributed to the trouble by agitating for war risk pay when serving on ships in "endangered waters." The Dollar Line had one consolation: fat fees...
Within the next six months, Nippon Yusen Kaisha will have six big fast new freighters plying between Manhattan arid the Orient. At Havre, the French Line is busy prettifying the launched Normandie for her queenship of the seas next summer. But far the busiest shipyards in the world are the British. Next month Her Majesty Queen Mary will travel north to the Clyde there to launch a 73,000-ton monster which in 1936 will take away the Normandie's crown of size. And the name which Queen Mary will cry as she whangs the bottle, will not be Britannia...
...Nippon Yusen Kaisha is a big if not rich province in the business empire of the Iwasaki, Japan's No. 2 industrial family. Under the family trade name, Mitsubishi ("Three Diamonds," derived from their crest), they own steel works, shipbuilding plants, chemical, electrical equipment and airplane factories, banks, insurance companies, trading companies, urban real estate. As industrial pioneers they rank ahead of the omnipotent house of Mitsui, Japan's No. 1 family. But unlike the ancient house of Mitsui, the Iwasaki fortune dates only from Japan's first industrial stirrings 60 years ago. And unlike the Mitsui...