TRAFFIC RETURNEL—These are statements furnished weekly through the medium of a postcard to the press and the Stock Exchange by each railway company. They show the receipts of the company's goods and passenger traffic during the past week, but they do not show the expenditure. Their object is to indicate the position for the time being of the railway company, and so indicate to the investor and speculator the possibilities of dividends. But as a matter of fact these weekly returns are considerably underestimated, particularly in the cases of the great goods-carrying lines, and it is therefore necessary, quite apart from the need to learn the rate of expenditure, to await the half-yearly reports in order to obtain an exact idea of the state of affairs. Nevertheless, when compared with previous issues, the weekly returns are valuable indications of the general state of trade in the country; and they are always published in comparison with the corre sponding week of the previous year. An increasing traffic in goods and minerals, especially when confirmed by increasing bank clearings, better monthly showings in the Board of Trade returns, and a tendency for the Bank of England reserve to fall, and money and discount rates to rise, is unmistakable evidence of a general trade revival.
TRAWLERS.—The following provisions of the Merchant Shipping Act apply only to those fishing-boats known as " trawlers"; and, save as other wise mentioned, only trawlers of a tonnage of twenty-five tons and upwards. Engagement of skipper of every trawler must enter into a prescribed agreement, called a fishing-boat's agreement, with every seaman whom he carries to sea as one of his crew from any port in England or Ireland. He must not carry to sea any seaman with whom no such agree ment has been entered into. A skipper acting in contravention of this provision is for each offence liable to a fine of 195. This does not apply, however, in the case of a sea fishing boy. A fishing-boat's agreement must be dated at the time of the first signature thereof, and be signed by the skipper before the seaman signs it. It must contain as terms thereof— (a) the nature, and, as far as practicable, the duration of the intended voyage or engagement ; (b) the number and description of the crew ; (c) the time at which each seaman is to be on board or to begin work ; (d) the capacity in which each seaman is to serve ; (e) the remuneration which each seaman is to receive, whether in wages or by share in the catch, or in both ways, and the time from which each seaman's remuneration is to commence; (f) a scale of the provisions to be furnished to each seaman ; (g) any regulations as to conduct on board, and as to fines, short allowance of provisions, or other lawful punishment for misconduct, which the Board of Trade have approved as proper and the parties agree to adopt. The agreement must be so framed as to admit of stipulations, to be adopted at the will of the skipper and seaman in each case, as to advance and allotment of wages ; and it may contain any other stipulations that are not contrary to law. It must be signed by each seaman, and the skipper is required to cause the agreement to be read over and explained to each seaman, or otherwise ascertain that each seaman understands it before he signs it ; and he must attest each ' signature. When the crew is first engaged the agreement must be signed in duplicate, the skipper sending one part to the superintendent at the port of departure, retaining the other part, which must contain a special place for the descriptions and signatures of substitutes, or persons subsequently engaged. Where a substitute is engaged in the place of a seaman Who has signed the agreement, and whose services are lost by death, desertion, failure to join, or other unforeseen cause, the skipper must, before the fishing-boat puts to sea, if practicable, and if not, as soon afterwards as possible, cause the agreement to be read over and explained to the substitute, and the sub stitute then signs it in the presence of the skipper who attests the signature.
These agreements may be made by the owner (or if there are several owners the registered managing owner) instead of by the skipper, and the foregoing provisions will then apply as if the owner were skipper. They may be made for service either in a particular boat or in two or more boats belonging to the same owner, provided that in the latter case the names of the boats and the length and nature of the service, and the rates, periods, and method of payment are duly specified. And they may also, if the voyages of the boat average less than six months in duration, be made to extend over two or more voyages or any number of weeks ; in such cases they are called fishing-boat's " running agreements." They must not extend beyond the next following 30th June or 31st December, or the first arrival of the boat at her port of destination in the United Kingdom after that date, or the discharge of cargo consequent on that arrival. Where any such running agreement has been made the skipper must, on every return to a port in the United Kingdom before the final termination of the agreement, make and sign an indorsement on the agreement stating either that no engagements or discharges of seamen have been made or are intended to be made before the boat leaves port, or that all those made have been made as required by law. A skipper who knowingly makes a false statement in any such indorse ment is for each offence liable to a fine of 1'5. The owners are required, within forty-eight hours of her departure from port on any voyage, to send or cause to be sent to the superintendent at the port a true report, signed by an owner or the registered managing owner in the prescribed form, stating the names of the skipper, seamen, and apprentices who have gone to sea in her, and such other particulars as the Board require. Where the sole or the registered managing owner or every owner goes to sea in her on the voyage, or the voyage commences at a port where there is no owner or registered managing owner, the report may be made and signed on his behalf by his agent for that purpose. Non-compliance with these requirements renders the owner and the registered owner (if any) of the boat liable to a fine of £5 for each offence. The Board of Trade may exempt owners of boats from this requirement as to sending a report. Where a running agreement has been made the skipper must, before finally leaving a port for sea during the continuance of the agreement, sign and send to the nearest superintendent an accurate statement, in the prescribed form, of every change which has taken place in his crew ; and that statement is admissible in evidence. The penalty for failure to comply with this provision is £5 for each offence. The Board of Trade may also exempt owners from this requirement. Every erasure, interlineation, or alteration in a fishing-boat's agreement (except additions made for shipping substitaes or persons engaged subsequently to the first departure of the fishing-boat) is wholly inoperative unless proved to have been made with the consent of all the parties interested in that erasure, interlineation or alteration. If a skipper (1) fraudulently alters, or makes any false entry in, a fishing-boat's agreement, or is privy to any such fraudulent alteration or false entry ; (2) delivers, or is privy to the delivery, of a false copy of a fishing-boat's agreement, he is for each offence liable to a fine of .V20.