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NORTH ATLANTIC CONTINENTAL FREIGHT CONFERENCE
80 BROAD STREET, NEW YORK, 4, N.Y.

Telephone Whitehall 4-0990
Cable Tranconfer

JANUARY 15, 1953

[[underlined]] IMPORTANT NOTICE [[/underlined]]

[[underlined]] CONTRACT RATES IN FOREIGN MARITIME COMMERCE [[/underlined]]

Referring further to our advices of October 1, 1952, concerning contract rates in Foreign Maritime Commerce, please be advised that the proceedings before the Federal Maritime Board (Docket No.724) have not yet been concluded. We are making every effort to bring them to a conclusion.

However, in view of the unfortunate delays which we have encountered in the Federal Maritime Board's investigation of our Merchants Rate Agreement (Discount Differential), it is now apparent that the Board's announcement will not be made by January 31, 1953.

Under the circumstances and for the protection of shippers who signed contracts with us, we are further extending the 10 per cent discount of freight rate contract items until February 28, 1953, by which date we trust that the situation in Docket 724 will have been fully clarified.

The 10% reduction in tariff rates mentioned in our October 1, 1952 advices will continue to be applied to shipments of all merchants, inasmuch as dual rates are not presently being practiced notwithstanding the contracts.

NORTH ATLANTIC CONTINENTAL FREIGHT CONFERENCE

C.R. ANDREWS, Chairman.
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