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No Control for British Shipping English Flag Pre-eminent Because of Private Ownership--Government Interference Denounced at Meeting of British Chamber of Shipping Americans interested in the de- velopment of the merchant ma- rine of the United States is found in the remarks made at a banquet of the Chamber of Shipping of the United Kingdom which was held in _ the ancient Guiidhall of the city of Lon- eon on the evening. of May 12) TF was the first dinner meeting of this great representative body of British shipowners and managers to be held for five years--since before the war. The affair was an unusually brilliant one and about 400 attended. W. J. Noble, shipowner, Newcastle, England, president of the chamber of Decca | at least, a lesson for shipping, occupied the chair. Mem- kers and guests attended from all over the world, representing almost every prominent shipowning nation except Germany. At the right of the chairman sat the Lord Mayor of London and on his left Sir Joseph Maclay, shipping controller for the Pritish government. Numerous other distinguished personages attended, in- cluding Lord Inchcape, chairman of the Peninsular & Oriental Navigation Co., London; Admiral Sir Frederick Sturdee, who was in com- mand of the British fleet at the battle of the Falkland islands; Lord Sum-_ ner; and Lord Robert Cecil, formerly minister of the blockade. The point which might be brought home to American shipping interests was emphasized by several speakers, but was perhaps as clearly stated by Sir Joseph Maclay as by any of the others. His remarks carried unusual weight because, although formerly a shipowner, he appeared as a repre- sentative of the government. Nevertheless he pointed out em- Phatically that the British merchant Marine was built up to its present pre-eminent position in the world's Niaritime affairs, maintained during the war, and again brought into the front rank among the world's 'most 'Successful enterprises not by govern- ment action but by the freely acting, individual, Private enterprise, of the shipowners and managers of the United Kingdom. Sir Joseph and other speakers including Lord Inch- rape pointed out how Great Britain's -- Successful shipping industry is Outgrowth of the initiative and days of Queen Elizabeth. Steam BY H. COLE ESTEP European Mancger, Marine Review ability' of the "merchant adventurers of the empire" dating back to the The hope- lessness of creating a successful mer- chant marine through government ownership and operation was em- phasized throughout the meeting. And it was pointed out that Great Kritain has already taken steps to free her shipping from a large meas- ure of government control, has sold W. J. NOBLE Chamber of Shipping of the United King- dom and a Prominent Newcastle Shipowner President, é most of her government owned ships acquired for war purposes, and even during the war left the management of her fleet almost entirely in the hands of private corporations. The Industrial Cul de Sac From a practical standpoint, Lord Inchcape's remarks were of unusual interest. He said there are only two ways for the nations of the world to extricate themselves from the financial cul de sac in which they have been placed by the war, namely by econ- omy, both corporate and government, and by guaranteeing freedom of en- terprise, unhampered by socialistic and bureaucratic restrictions. "Leave the British merchant marine to work out its own salvation," he said, and continuing, remarked, "there is noth- 405 ing so dangerous to a state or in- dustry as the TNT of false econo- mics,' 'Lord Inchcape said further in part: . "We are all up against a_ serious Frospect in the not far distant future. The cost of running ships has_ in- creased enormously but I do not despair. We have weathered bad times before and will weather them again, and though we may not have built up the enormous reserves and accumulations of our Dutch, Nor- wegian, Danish, Japanese and Amer- ican competitors, I feel assured that by good management and enterprise, by being satisfied with modest re- turns on the capital we have invested ini our business, by putting any sur- plus we may occasionally have into new and up-to-date ships, if politicians and bureaucrats will only leave us alone, we shall without doubt be able to come to the country's rescue again ii tt is ever so unfortunate as to get involved in another war." Sets Earning Record The remarkable record of one French shipping company, the Chargeurs. Re- unis, before the war, during the war and since, is. a subject of comment throughout the French shipping in- dustry. From the operation of a fleet valued at 66,605,000 francs in 1909 to 69,901,000 francs in 1915 and 67,479,000 francs in 1919, net profits have risen steadily to 326,000 francs in 1910, 11,- 907,000 francs in 1915 and 15,242,000 francs in 1919. The present fleet con- sists of 29 steamers, the company hay- ing lost seven units by submarine war- fare during hostilities. The present tonnage of 176,022 is superior by nearly a thousand tons to that of before the war. It is the company's policy to carry over 5 per cent of the value of each steamer each year as an amortiz- ing fund and in certain years this percentage has been as high as 10 per cent. The company's record is consid- ered remarkable as economic conditions are decidedly not favorable considering port delays and the general modus operandi of handling ships of French register, where the crews are of neces- sity French maritime conscripts--civilian sailors working under government im- posed regulations.