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Port of New Orleans The Southern City is Endeavoring to Develop Its Commerce With South America--Relative Distances REALIZING that New Orleans R: the natural gateway of the greater share of the import and export trade of the Mississippi valley with South America, L. S. Goldstein, chairman of the Wholesale Merchants' and Manufacturers' Bureau of the New Orleans Association of Com- merce, has inaugurated a campaign to develop this commerce through bet- ter steamship connections. The [llh- nois Central, Louisville & Nashville, Soutnern Pacthc, Texas: &. Pacific, Queen & Crescent and. other trunk lines are: vitally interested in this port, and they are prepared to put solicitors in the field to divert the South American traffic to New Or- leans. With the co-operation of the New Orleans importers who are in a position to control the coffee move- ment, it is expected that the north- bound as well as the southbound car- goes will be sufficient to warrant reg- ular and direct sailings. Following a conference between representatives of the various railways and members of the Wholesale Mer- chants' and Manufacttrers' Bureau, it was decided to appoint a general committeee, to be comprised of rail- way Officials, importers and members of the Board of Trade and Wholesale Merchants' and Manufacturers' Bu- reau. The Lamport and Holt Line has pointed out that business conditions in Brazil and Argentina are in an un- settled state, but that it is willing to establish regular sailings out of this port whenever there is sufficient ton- nage to warrant such service. Inas- much as the import and export fig- ures of South American countries are available, the general committee will endeavor to ascertain the points of origin and distribution of commod- ities, in order to determine what per- centage should logically move through the port of New Orleans. If the Conference Lines do not feel that this traffic justifies direct' and regular 'service, the attention of the commit- tee will be turned in another. di- rection. For example, this committee will want to know why cash registers are shipped to Colombia from Dayton, O., not by way of New Orleans, but by way of New York! All points south and west of Lake Superior, northern Michigan and a line drawn through Indianapolis, Frankfort, Ky., and on to Charleston, S, C., are nearer to New Orleans than to New York. While distance is not the only factor in determining the di- rection in which traffic will move, it is one of the factors, and the prox- imity of the industrial centers of the central states to New Orleans will greatly assist this port in securing a large share of the South American and Pacific trade. The mileages by rail from representative Missis- sippi valley points to New York and New Orleans are shown in the follow- ing table: To New To New From: York. Orleans. Chicago, Ue ies 912 912 alii: = Minn: <0 jcese ere ee ct 1,390 15337 Minneapolis, (Minn. .3 3... 62 <. 32 1,297 Stot. Paul, Minne (isi ee R324. 1,279 Sioux ~Gity, Vance or: 20 ewes: 1,422 1,258 Omaha Neds ie ce 1,402 1,070 Dubuque, lak. aoe ees ines 1,079 968 St Lonis.c5: Moss oe ass 1,058 695 Peoria, "West ea es 1,006 869 Carre, elie a es ore tee 1,089 554 Hyansvitle, ind. 05.5 oe 989 708 Boutswillé, Kye oi aie 867 746 Nasivalle, s<Penam: Sait oe eucuce os 939 557. Denver Colo.) eo es 1,932 1,336 Kansas: * City, Wor ar ae 43335 878 Not only is there a saving in dis- tance from all of these points, with the exception of Chicago, but from practically all of them there is a water level grade against a mountain grade --which should have an influence on rate-making. That the present commerce of the Latin-American countries is well worth the efforts of the New Orleans exporters and importers is shown by the following table of their annual trade with this country: a I biitish "Mondtras::.2. eo. ee cS $1,260,573 Mocha Rica = 8 oa ae 3,817,851 (irahemala aes ee Ge ee 2,644,037 TLONCUHASS Seog ae ee 2,644,037 INS CAPER IIA ras eek oe a 1,505,147 PaMAMa <hr c 4,425,044 Maa Ore ot ee ee 1,519,954 WEEEIGOR tore Oe ee ee: 65,915,313 West Undies 0 0c fe 213,917,713 ne 120,154,326 Argentina Geese one a wae wae e enn ae 29,847,016 Brazil Pema Re ais wate Wie cht ae 123,881,644 eS bee | 20,164,848 Colombia (Ge ee re 11,219,481 WewAdor 2 a 10,124,069 Nee an ee 3,231,676 Reneztelaciss 10,657,989 POOtA eee ee ee $627,067,653 It was recently announced that direct and regular service between New Orleans and the north coast of South America and the West Indies will be established by the United Steamship Co., with the assurance of 500-ton cargoes. <A similar service will be inaugurated by the Seeberg Line to Haiti. On the whole, the prospects for better steainship service out of New Orleans tosSouth Amer- ica are excellent. American Ship Passes Dividend The directors of the American Ship Building Co. have decided to pass the preferred dividend for the balance of the fiscal year which ends June 30, Thereafter dividends will be paid semi-annually instead of quarterly. In a statement to the shareholders the directors stated that the net earn- ings of the company are sufficient to pay the 7 per cent dividend for the entire fiscal year, but 'that certain losses on construction on contracts taken prior to the beginning of the fiscal year have made it advisable to pass the dividend and thus begin the new fiscal year with these losses ab- solutely wiped out. The change from' quarterly to semi-annual payments is dictated by the fact that it is impos- sible to determine exact profits on the business quarterly. While pre- ferred dividends are 'non-cumulative, the statement seems to infer that as the dividend just passed has actually been earned, the directors may in their discretion declare it later. An appraisal of the plants has just been made by the Manufacturers Ap- praisal Co. and the valuations placed on the properties are in excess of the values carried on the books. During the last six months, the liabilities of the company have been reduced ap- proximately $725,000. The quick as- sets are in excess of the liabilities and the entire assets of the company, after deducting all liabilities and the book valuation of patents and good will, show a surplus in excess of the entire capitalization. Rear Admiral Stephen B. Luce, U. S. N., retired, author of works on navigation and a consistent advocate of an American merchant marine in the over-sea trade, celebrated _ his. eighty-seventh birthday, at Newport, R. I., recently. The new Cunarder Aquitania will leave the yard of her builders, John Brown & Co., Clydebank, Glasgow, 0" May 10, for her trial trip and will sail for New York from Liverpool on May 30.