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* 486 American business has received an impetus. It was stated that more than 50 fire and marine insurance companies have signed the marine syndicate agree- ment which was fostered by the shipping board. Syndicate A will make surveys. Syndicate B, the most important, has already begun to write policies. Syndicate C is yet to be organized. Two angles mark the charter situa- tion in the north Pacific. One refers Pacific to the transpacific trade between ports Trad on this side and Japan, China and ee the Philippines. The second has ref- Unsettled erence to the movement of freight in other directions. With respect to the transpacific routes, business is in a chaotic condition. Freights are low, bookings are light and the movement of cargo in both directions has dropped materially. Great uncertainty prevails especially because of the fear that section 28 of the Jones act will drive foreign tonnage from north Pacific United States ports. On other routes, chartering is limited, with freights gradually declining. Not much business is being done as foreign buyers are expecting further recessions in rates and in consequence they are holding back. 'This is particularly true with respect to lumber. How- ever, there is no idle tonnage in Pacific waters at present and operators appear to have little difficulty in finding employment for their carriers. Since a month ago, when the transpacific conference reduced the rate on lumber to the Orient from $35 to $25, business has declined. In other words, the reduced rate has failed to stimulate the movement of lumber as there is little demand for it in the Far East. Japan is fully stocked for the present and financial conditions in that country are not conducive to buying in this country. The same conference reduced the rate on cotton 50 cents per hundredweight and the tariff on autos and other overland freight was cut, to place Pacific terminals on an equality with Atlantic and gulf gateways. The rate on salt fish was also cut. Flour remains at $10 per ton and steel is now being handled at $11 per ton. In other words, operators state that present tariffs are on a prewar basis, plus the increased cost of operation. The members of the conference are said to be adhering to the new tariff on the assump- tion that further cuts will not bring new business. Vessels from the Orient are return- ing either in ballast or with very Freight light cargoes. More than. sufficient oo tonnage is available to care for the westbound movement and altogether Drop the indications are that there will be several months of light business for steamers operating to the Far East. Reports from Japan state that vessels are already being taken out of commission because of lack of business and low charter rates. Many owners who had their carriers hired out at fancy freights during the last three years are having their vessels returned and they are now seeking tramp trades in which to ae Chartering in Japan is said to be extremely ull. Lumber freights to South America have dropped from $35 to $30, to Cuba from $25 to $18 and to Australia from a $35 basis to $33 and $30. Several recent charters have been done at private terms or on a lump sum basis which are usual indications of a falling market. Two large steamers have been THE MARINE REVIEW September, 1920 fixed to carry railroad ties from Puget sound anq Columbia river at $45 per 1000 feet while grain ton. nage has been taken on a basis of $25 and $26 to United Kingdom or Continent. Several sailing ships have been chartered for barley from San Francisco or north at 150 shillings which is considered a high level. A large steamer has been fixed for flour or wheat from Portland to South Africa at 157 shillings 6 pence. Brokers are seeking tonnage to freight coal from Puget sound to Scandinavian ports at from $20 to $23, this being business much out of the ordinary. ' Admiralty control of British ships ended on July 15 and this means that considerable additional ton- nage is likely to be thrown on the world's market. Western shippers are anticipating further declines in freights and this state of mind is responsible, in large degree, for the lack of interest in the market at the present time. An easier freight situation las helped to increase the shipping from the Boston's port of Boston, but grain which ordi- narily at this time of the year forms Trade an important part of the port's ex- Holds Up ports has been almost entirely: absent : from the past month's list. Canadian grain has either been leaving from Canadian ports or from Portland, Me., or New York. Shippers claim the reason that Boston has been skipped is entirely on account of the railway situa- tion. Manufactured products of New England have figured largely in the month's exports and increased tonnages in this line are reported by many lines. C. H. Sprague & Co., operating lines to Scandinavia' and the Mediterranean, report better conditions in both of these fields than existed a month ago. Ma- chinery and machine tools have been in better demand from Holland and Norway. This company has re- cently inaugurated a new service between Boston and ~ the Far East by way of the Panama canal. Space for England and France has been in better demand and vessels formerly forced to put into other ports to complete their cargoes have recently been sailing direct from Boston. : Exports have included steel rails, heavy steel scrap, flour, shoe machin- Exports ery and paper mill machinery for . Scotland; shoes, machinery of various Show Wide kinds, crane equipment, blowers and Range tteather for. England; tacks, nails, g g niiscellaneous machinery, hooks, car- penter tools, asbestos and leather for Italy; sheet steel, iron bars, miscellaneous machinery, nails, tacks, arms and ammunition, automobile parts, structural shapes, wire, and lumber for Buenos Aires. Imports have fallen off in most cases but cargoes from England have been about normal with mis- cellaneous items including hide cuttings, paper stock, optical glass, earthenware, chalk, yarn and cotton. Coastwise shipping thas increased in spite of the small amount of coal reaching Boston from the south. The Cape Cod Canal Co. reports 951 vessels having passed through the canal during the past month. The United Fruit Co. has started a new service between Boston and the Canal zone. Ship- ments already made have included machinery, leather, cotton goods, shoes and other manufactured products. The service from Boston to Galveston recently 1n- augurated by the Clyde-Mallory line is proving highly successful. Cargo has even exceeded available space.