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be % : Private Capitalists Have Contributed Huge Sums to Upbuild Our Merchant Marine—New Conditions Shown by Expansion at New York RIVATE capital to the amount P: $85,125,000 has been invested - in American shipping companies since the war started. While this in- vestment was of course the result of the demand for shipping, growing out of the present worldwide shortage of tonnage, it also provided the financial sinews by which this demand could be met. American ‘investors,’ shy for years of investing in shipping securi- ties, opened up their purses when war- time conditions temporarily removed the legislative strictures that have re- tarded the growth of an American merchant marine. as This response of capital has kept pace with the developments in the market for tonnage. In the early months of the war few new com- panies were organized, but since that time there has been a steady increase, and August of this year showed the third largest total of new capital in- vested of any month since the war started. The following table, com- piled by The Journal of Commerce New York, shows the total capital authorized in the incorporation of new shipping companies by months since the beginning of the war up to Sept. 1. The list includes concerns of more than $50,000 capital organized’ for the operation, construction, salvage and repair of ships, and also new financ- ing involved in the expansion of ex- ‘sting companies: 1916— 1916— January ...$ 4,850,000 May ....... $ 2,725,000 Bebruarye <>: 5,525;0007}une: 237.5 5,780,000 March <<. < 12 Top, O00 thy 1,425,000 Arr casio 4,234,000 August .... 8,925,000 Wotal cy 2) aes aa $45,619,000 1915— 1915— January: ..2$..1,975,000 }ualy ce es $10,450,000 February .. 803,000 August .... 4,530,000 March! (2a: 825,000 September . 2,919,000 Aprile: vec 1,485,000 October .... 2,005,000 May ces 4,845,000 November .. 5,900,000 WUC ee is eee 350,000 December .. 1,575,000 Darr | Range aie FU AUGER SSA NEE BS Sra $37,662,000 1914— 1914— August ....$ 1,125,000 November .$ 100,000 September . 519,000 December .. 100,000 AE OLA A eee cca cas aisah Gitraic pain idaeo coe $ 1,844,000 Total since opening of war......... $85,125,000 The names of new steamship. con- cerns, formed to build, operate, lease vessels or construct piers and ter- minals, etc., are given below for the month of August. The list includes only companies of more than $50,000 capital. The largest corporations are the Rio de Janeiro Transportation & Navigation & Public Service Co., New York, $5,000,000; the American Ship Co., Maine, $1,000,000, and the Sub- marine Navigation Co., Delaware, $2,000,000. The figures in detail as to capital are as follows: Brunswick Shipbuilding & Dry Dock Coy Delaware er cso eee $ 100,000 The New York & Boston Transporta- tion. ‘Co:; New :Vork. ci ae 100,000 North American Line Co., New York 50,000 Illinois & Louisiana Transportation ‘Co.. operate steamboats, Illinois.... 125,000 gation & Public Service Co., N. Y. 5,000,000 American ShipGov, Maines. ce 1,000,000 Virginia-Carolina Nevigation Co., N. Y. 50,000 xe) elaware, Delaware........... 100,000 Liggett Shipping Corp., New York... 100,000 Loft Shipping..Corp., New York..... 100,000 Ota cihe: aseis FSi cio ee ik RN ee $8,925,000 New York as an Example New York in its position as the country’s leading port and handling as it does more than half of the total exports and imports of the United States, has witnessed an expansion in its shipping industry closely matching that of the entire country. Many of the new industries incorporated in re- cent months are located in New York, while existing companies have gener- ally increased their facilities. Pre- vious to August, 1914, the bulk of New York’s trade was inward. Now this position is reversed and the export business constitutes the heavier move- ment. During the last fiscal year, New York’s share in the nation’s trade amounted to $3,529,060,617, or about 54 per cent, as compared with $2,125,- 421,097 in the fiscal year ended June, 1915, and $1,806,525,366 in the calendar year 1914. During the larger part of the last fiscal year the increase has been attributable to a gain in exports, although more recently imports also have been on the rise. The Hamburg-American, the North German Lloyd and Austrian services have been suspended during the war and many British services have been curtailed because of the demands made upon the British merchant marine by the admiralty. To take the place of these services, a large number of new lines have been started at New York, most of them within the last year. In addition to this, there are numer- ous individual owners and charterers who offer boats for different ports at irregular intervals. The following are some of the lines that have been es- tablished at New York and changes in old services: The Cunard line has for the time being discontinued its sailings to the 19 Mediterranean. Also as previously re- ported, Gans Steamship Co. has sus- pended its service to Rotterdam. Vessels of the Barber line now call at Bordeaux and La Pallice. This company has also instituted a service to Australia and New Zealand via the Panama canal. : The Norwegian American line has increased its service to weekly sail- ings. The number of sailings for French ports has been greatly increased. Among the new lines are the Kerr Steamship Co., whose ships run to Bordeaux, Havre and Marseilles; the Oriental Navigation Co., with frequent sailings to Havre and Bordeaux; the Plantade line to Bordeaux, and a di- rect steamer service for which Norton, Lilly & Co. are agents. The Kerr Steamship Co. also oper- ates a service to Barcelona, and has recently been appointed as agents for the Wilhelmsen line, which is owned by a leading Norwegian concern and will run between New York and Bra- zilian ports. The Royal Belgian Lloyd line, just organized, has announced a New York-Havre service. The Russian Transport line is among the new enterprises handled by Funch, Edye & Co.,, operating be- tween New York and Archangel when this service is permitted. The Rus- sian-American line sends its ships to Archangel direct now, rather than to Rotterdam and Libau as before the war. The Ocean Transportation Corpora- tion has scheduled ships for Cadiz, Barcelona and other Spanish ports and the Canary islands. The Globe line, organized within the last year, has sailings scheduled for Lisbon, Bor- deaux, Guayaquil and Archangel, .In- terchange, Ltd. has a ship scheduled for Genoa and Naples and one. for Gothenburg. Two new services to China and Japan via the Panama canal -have been inaugurated by the Nippon Yusen Kaisha and the Lukenbach company. The American Smelters’ Steamship Co. has been organized and has start- ed a service to’ Chilian ports. W. R. Grace & Co. have announced that a passenger and freight service will be operated to the west coast of South America beginning next May. Moore & McCormack also run a service to South American ports. :