Shipping Barometer.

Some indication that shipping is sharing in the slight revival of trade is now reported. Freights have somewhat improved. page 11 Of British tonnage, 14 per cent, is reported as laid up, but the laid-up percentages in most of the foreign mercantile fleets is higher than that. When Britain went off the gold standard, British shipping shared in the competitive advantage thereby created. Owners who have built up-to-date ships have thus reduced their operating costs. But British owners who have done that, and who have sold their older ships, have found that in some cases foreign buyers of the older ships have created a new competition by means of lower wages and standards.