Ogden Daily Standard | 1902-02-24 | Page 4 | British Shipping

BRITISH SHIPPING no profit in the trade and vessels are being destroyed new york feb 24 depression in the british rr trade continues says a london to tho new york tribune and freights lymich commenced to fall more than a year ago are now so low as to be almost if not quite unprofitable prices for building new steamers have fallen considerably and in many instances are fully 20 per cent under the highest figures obtained in 1000 secondhand second hand vessels have depreciated precia ted to an even dioro marked extent and the supply both of the new and secondhand second hand steamers is much in excess of the demand A great number of old liners and merchant steamers have been sold to british and continental buyers to bo broken up and many thousands of tons probably will be disposed of before ion for atie same purpose