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Mi AC OR CN R By I ES 23 to be supposed that the American sailor cannot man them as well. The time is not long past when the American ship builder led the world in the construc- tion of ships. Nothing to equal the grace and speed of the clipper ship as a sailing ship has ever appeared on any ocean. At that time the opportunity was af- forded to the American ship builder to build them and the American sailor to sail them and it was trium- phantly seized upon. Granted an equal chance now it will be seized upon again. But with higher cost of construction, higher cost of operation, higher wages and a better food scale it is impossible for the Ameri- can ship to compete with the cheaper constructed and cheaper run rival. This condition is the direct result of the protective policy which has been extended to every industry except shipping. Something should be done to equalize the condition which has been bred by this purely American policy. The difference should be made up. The Merchant Marine Commission which is now touring the country has been well re- ceived in all the cities which it has visited and a great mass of data has been submitted to it to be digested. Out of it all something tangible ought to come for the benefit of American shipping and it is quite clear that a sensible measure will be supported by the people in general. ; A great deal can be done by the mere reservation of purely American trade to American ships. The customs act has been extended to the Panama canal zone by which all goods going to the zone from, for- eign countries must pay the same tariff that they would have to pay to be admitted into the United States. This is virtually a recognition that the zone is American territory. If it can be declared to be a part of the coasting trade then the enormous supplies which will be consumed during the ten years that the canal is building will be transported to the zone by American ships. There need be no fear that exces- sive freight rates will be charged because it would be competitive trade anyhow, the competition being con- fined to American citizens. Such a condition exists on the great lakes where the trade is exclusively con- fined to American ships and where the competition be- tween American citizens for it is so active that the freight rate is the lowest known anywhere in the world. FREIGHT SITUATION ON THE LAKES. The freight situation from the vessel owner's standpoint does not show any present sign of improvement. Mr. Harry Coulby, president and general manager of the Pittsburg Steam- ship Co. chartered tonnage this week upon a basis of 70 cents from the head of the lakes but the total amount was not made known. It does not, however, reach the total chartered last year. Owing to the fact that vessels were more numerous than cargoes the Escanaba rate fell from 55 to 50 cents last week and there is a disposition in some quarters to establish the Marquette rate at 60 cents. The present rate from that port is 65 cents and it is maintained that a differential of 5 cents between that port and the head of the lakes more nearly represents the actual difference in cost than the 1o cent dif- a ferential which was obtained in former years. However there has been talk of making the differential 10 cents this year again. It is the old story of supply and demand and there appears to be no gainsaying the fact that for the business now offering there are more vessels than cargoes. The quarterly statement of the Steel Corporation, howevér, shows a marked improvement in profits over the preceding quarter which, of course, means an added consumption of the products of iron ore; building operations, involving structural steel, are re- ported to be considerably on the increase, and the action of the Democratic national convention has resolved the forth- coming presidential campaign into a thoroughly conservative affair, not in any degree threatening the ordinary conduct of business, so that a general improvement in industrial condi- tions may be looked forward to from now on. Vesselmen are hoping that the fall months may redeem a season that has opened most inauspiciously. Coal is giving quite comfortable employment to a number of carriers but the grain trade has, so far, been a delusion. CHICAGO GRAIN REPORT. Chicago, July 13--The government department of agri- culture crop report to July 1 notes favorable comparison with the conditions of last year and figures of same are generally suggested as follows: : Crop of 1904. Crop of 1903. 635,000,000 Bus. 638,000,000 Corn ee ae ee cae 2,385,000,000 Bus. 2,240,000,000 818;000;000 Bus.......-780,000,000 «- 130,000,000 Bus. -- 131,000,000 Moderate cash selling of the past week with steady vessel offerings, more noticeable however those of lake and rail in- terests, continues the freight basis at 34c Buffalo corn. The export situation is dull and unchanged, and rates all water routing to Montreal nominally 3%c corn. Recent activity at other down shipping points practically re- moves whatever pressure of outside vessels and, east bound package trade working stronger, rates may be restored to Ic per bushel basis Buffalo at any nearby day. The week's shipments were distributed about as follows: Via all rail lines: Wheat 120,000 bu., corn 220,000 bu., and oats 650,000 bu. Via lake to Buffalo, etc., wheat 85,000 bu., corn 1,575,000 bu., and oats 70,000 bu. Via lake to Canada ports 200,000 bu. corn. Following figures cover general shipments and stocks in periods described. Total lake and rail shipping: Same week 'This week. Last week. last year. Wieat. 7.57 ae. 216,258 157,844 655,623 Com -.. ohae oe 1,966,802 1,236,281 2,204,195 OPS ral eo dep seas 744,585 579,038 1,609,397 2,927,045 1,973,703 4,559,215 Shipments since Same week Jan. 1, 1904. last year? Witeat ek 6,974,000 11,192,000 Contr 4 32,036,000 41,864,000 Oats, oe ae 24,358,000 35,126,000 63,368,000 88,182,000 Elevator stocks at Chicago and So. Chicago: Same week This week. Last week. last year. Wheat <2 a 2,285,000 2,563,000 3,965,000 COM. 5,345,000 6,685,000 8,627,000 Oats 2 oe 1,096,000 1,296,000 1,922,000 RYO 9G ee 460,000 406,000 322,000 9,186,000 11,010,000 14,906,000