61 



v 



patched as soon as sold, and manoeuvre accordingly SO 

 That I'rei.o-hts shall be as hi-li as possible at the moment 

 of pressure. Charterers, too, have to calculate on the 

 possibility of a bad season, and it may, and in fad gen- 

 erally happens, that despite the prognostications of cheap 

 freights and unlimited shipping facilities, the country 

 tfnd's herself heavily penalised at the actual moment of 

 shipment. 



The experience of ship-owners with River Plate 

 freights has made them chary of taking risks, except on 

 favourable terms. 



The exporters, also, endeavour to take advantage of 

 the slight variations of the importing markets by timin? 

 the arrival of the cargoes; the trade is so managed that 

 vessels laden with grain can stop en route for, orders 

 and are thus directed to where it is most advantageous 

 to discharge. 



Over fifty per cent, of the cargoes leave in ships 

 without destination, that is to say for orders. Of course 

 this in itself cannot be impeded, nor need it materially 

 affect prices on the home market, if adequate facilities 

 exist for handling and storing grain. But, under the 

 present conditions it is a direct incentive to speculation. 



It is an established fact that the group of grain 

 buying houses which in normal times holds control of the 

 market has it within its power, often enough, ib make or 

 break the charterer and ship owner ; the tramp owner, 

 especially, is often brought to despair and, naturally, 

 these, when the.y have an opportunity, when their turn 

 comes, use every chance they get to revenge themselves, 

 and do" it amply. 



TEN MILLION TONS PAY EXTRA CHARGES. 



Compared with the rates ruling regularly on an 

 average 'year in the international freight market, freights 

 for the River Plate are customarily about 10 per cent, 

 above what is charged for similar' cargoes elsewhere. It 

 may be calculated that at the best of times, when freights 

 were very low and competition among 1 shippers keep, at 

 least one shilling per ton was always paid over and above 

 the necessary. And our exports generally exceed ten 

 million tons! 



Although in abnormal times this additional and un- 

 necessary charge does not g'reatly influence prices for 

 the farmer, especially at present with the abnormal rates 

 ruling, freights have risen to thirty times normal. 

 even ten shillings per ton would seem to make no differ- 

 ence. Nevertheless when freights are normally 6|- per 



