UNITED STATES DE

LUTHER 

Wa

FEDERAL 

THos E 

RALPH E 

SIGFRID B 

THOMAS L

MARITIME 

THos E STAKEM 

WALTER C FORD 
LETTERS OF 

UNITED STATES DE

F

W

To The Secretary of Commerce

FRODI Chairman Federal Mar

trator

SuBSECr AnnualPeport for Fis

I am submitting herewith the 

and Maritime Administration c

year ended June 30 1961

To the Congress

I have the honor to present th

time Board and Maritime admi

merce for fiscal year 1961

TABLE OF 

INTRODUCTION 

GOVERNMENTAID 

Construction differential subsid

Federal ship mortgage and loan in

Other forms of construction aid 

Operating differential subsidy 

Aid involving over

Trade routes 

SHIP OPERATIONS AND REPAIR 

Oceangoing traffic 

Charters and general ogency oper

Ship custody 

Shiprepai

Werehant Marine awards 

RESEARCH AND DEVELOPENT 

SHIP CONSTRUCTION 

NS Savannah 

Advanced ship concepts 

Other construction 

Ship conversion and reconstruct in

Technical developments and acco

M nrrIME TRvNisa 

United States 3ferrhow Mcume 

State maritime academies 

Other activities 

SHIP SALE AND TRNfia 

Ship sales 

Transfer In foreign ownership and 

SHIPPING STUDIES AND REPORT 

Ship and cargo dat

Port development 

Labor data and labor nanoprmrnd 

PROPERTY AND SUPP

Real property 

Warehouses 

Material control inventory and dpw

Ai Vmmi5rR ATIE 1ANAIEN

Defense planning 

Internal managecent 

1

Personnel 

INANCE 

Financial relationships will r md 

ermulting 

Awlil s 

Insar

Sous and acrounts receivable 

7EG kL ACTIVITIES 

Litigation 

Legislation 

Contract administration 
INTERNATIONAL MARITIME AFF

REGULATORY ACTIVIT

Conference and other agreem

Hates Foreign 

Rates USoffshore domest

Terminals 

Freight forwarde

PROCEEDINGS BEFORE HEARING 

Final decisions of the Board 

Decisions of hearing exami

Pending proceedings 

FINAN

EXHIBITS

1 Balance SheetJune 30 

2 Statement of Operations 

1960 

3 Statement of Equity of 

June 30 1961 and 196

4 Statement of Sources an

June 30 1961 

NOTES To FINANCIAL STATEMEN

SCIIEDULE

1 Statement of Operations 

Years Ended June 30 

A Summary of Operating Diff

1961 

B Aid to Ships Over 20 Years 

Board During Fiscal Yea

Marine Act 1936 as Ame

C New Ship Construction on J

D Employment of USflag Me

E Deliveries of New Merchant 

301061 

F Merchant Fleets of the Wor

G Cash and Approved Securit

Special Reserve Funds of 

Vi
FISCAL Y

In

The Federal Maritime Boar

established in the Departmen

No 21 effective May 24 19

maritime laws and to admin

laws The plan simultane

Commission

Under the plan the Federa

administration of the statuto

the regulation and control of r

of common carriers by water a

the Shipping Act 1916 as am

tariffs and practices of commo

the Intercoastal Shipping Ac

regulations affecting shipping 

discriminatory practices in s

charged with the responsibility 

terminating subsidy contracts 

and making determinations a

of titles V V1 and VIII an

of the Merchant Marine Act 1

The Maritime Administrat

the Secretary of Commerce is 

execution of programs for the 

merchant ships administrati

strucrion differential subsidie

mortgage insurance and other 

shipping and shipbuilding in

Defense Reserve Fleet and re

marine officers and the inst

research and developmentprog

During fiscal year 1961 the F

time administration continued 

of the Federal Government w

marine as e tbolished in the Je

and related maritime laws T

the development and promoti

sufficient to carry the domestic 

portion of the foreign comme

as a naval auxiliary in time o

the USflag by citizens of th
best equipped safest and m

trained and efficient citizen p

on the postwar replacemen

evidenced by the fact that 16 

under construction during th

55 ships plus the ships delive

in prior years will leave a rem

ships constructed since 1950 

program to be replaced betwe

ship replacement program of 

a total domestic construction 

ministration of the Governm

effectively the American me

operators in maintaining ser

the United States

There was initiated a prog

fleet pursuant to Public Law 

authorized nonsubsidized USfl

ships for certain warbuilt s

physically retained in the Gs

Fleet Under this program 

Significant accomplishmen

and development program de

advances to improve the ea

thereby making them more c

to which particular attention 

development b advanced 

basic research

Reorganization

In another area

Plan

of interest

No 7

Congress on June 12 1961 

separate Federal Maritime C

sioners which would be charg

present Federal Maritime Bo

the Federal Maritime Board t

termination and amendment 

Commerce would also retain 

organization Plan No 21 of 1

time Administration provides 

and retains a Deputy Maritim

time Board would be abolishe

The Federal Maritime Bo

through its staff of2766 emp

sive efforts to other programs 

tion of Government owned s

agreement conduct of regu

national defense reserve fleet

maintenance of reserve shipya

of the provision of Public L
the 1936 act relating to 50 

operators in the movement 

advisory services to the Exp

ments of exports financed un

the provisions of Public Res

of discriminatory practices of 

flag shipping and adminis

Academy and the program o

Gov

Administration of the Go

under the shipping statutes 

American merchant marine b

a maintaining their servic

the United States and b 

and modern types In addit

the means of assuring a minim

ship construction personnel 

ities and managerial know ho

zation requirements

Construction differential 

During the fiscal year the 

structiondifferential subsidy 

for the number of ships indic

cargo ships Farrell Lines In

ship Co Inc for 8 cargo s

ships and United States Lin

ships will be built at a total 

including estimated cost of na

Against this construction ther

ships fora total allowance of c

The total estimated constru

Lines ships which are bein 

by Sun Shipbuilding Dry D

36400 0 The constructio

ships is estimated at 173700

the cost of national defense 

5228 000 Four obsolete ship

tion for a total allowance of5

tered back to the operator fo

the new ships

The total estimated constru

Farrell Lines Inc which are 

basis by the Ingalls Shipbu

61904112 
approximate 65500 0 T

lowance on these ships is esti

will pay the cost of nationa

mately108 380 Four ob

construction for a total allo

have been chartered back to 

tion period of the new ships

The total estimated const

which are being constructed 

the Bethlehem Steel Co S

Md on a fixedprice bid b

constructiondifferential sub

at 37468 000 and the Go

defense features amounting 

new construction of these ei

traded in for a total allowa

been chartered back to the o

period of the new ships

The total estimated const

which are being constructed 

price bid basis by the Nation

Calif will approximate 210 

subsidy allowance is estimat

will pay the cost of national 

mately 142 574 Two obso

construction for a total allo

been chartered back to the o

period of the new ships

The total estimated constr

which are being constructed 

price bid basis by the Newp

Newport News Va and 6 o

bid basis by Bethlehem Ste

Mass is 11600 0 The 

ance on these ships is estima

will pay the cost of national 

mately 954 000 Thirteen o

construction for a total allow

to the operator for use during 

In addition to the forego

thorized a construction diffe

Lines Ltd for aid in the re

SS President Roosevelt ex 

of this work which is being 

Dry Dock Co Seattle W

tiondifferential subsidy allow

The Board during fiscal ye

tive construction differential 

proved in fiscal year 1960 wi

4
certain reconstruction and re

American Export Lines Inc 

Co Chester Pa at a dome

including cost of extras and cha

Pursuant to the provisions 

1960 which provided among o

imum construction differential 

on certain ships whose keels we

Board during the past fiscal y

struction differential subsidy c

Annual Reports covering the 

American Mail Line Ltd thr

for Grace Line Inc three car

Inc one cargo ship for Moore 

lips for Pacific Far East Line 

On June 30 1961 there were 

tors applications for construc

construction of 3 combination 

pose drycargo ships and 2 d

struction jumboizing of 2 T

of I C4 type cargo ship to a r

an application for constructio

struction of one passenger line

tively processed at the close of 

priation for this construction w

applications for construction d

eralpurpose drycargo ships t

1961 applications from 3 subsi

on 14 obsolete ships to be appli

Federal ship mortgage and 

The Maritime Administratio

contracts of insurance for cons

and mortgage commitments or 

bank loans and through sale of 

the construction of 13 slops and 

Inc mortgage loans of 20 mill

ships b States Steamship C

mortgage commitments of 3500 

Export Lines Inc mortgage lo

pleted cargo ships to aid in finan

ships d 1681 Corporation 

mortgage commitments of 82690

ton tankers in lieu of one 105

mortgage insurance was approv

e Washington Tug R Barge C

for construction of 1 barge
As of June 30 1961 the

andor mortgage insurance 

including 70 small barge

cants of approximately 140

requested covering estimate

estimated mortgage loans of

During the fiscal year 19

XI insurance as a result of 

to the mortgagee insurance 

principal of 474 000 and int

and resulting foreclosure pro

owned by the Coastwise Lin

tration and will be offered f

The continued depression 

with respect to tanker ope

principal payments as wel

order to avoid defaults un

would have required payme

and deferrals were as fol

Inc advances of 2 quarter

221 678 later repaid and 

principal aggregating 12075 

advance of 1 quarterly insta

1

and deferrals of 8 quarter

648 800 c Transeastern 

installments of principal ag

and deferrals of 8 quarterl

778 441 d American Eag

installments of principal a

quarterly installments of p

tainersbips Inc advances o

each of 2 ships aggregating 

stallments of principal on 

f Petrol Shipping Corp 

principal aggregating appro

Tramps Corp deferrals of 

gregating 959 390 Of the 

mately 733 000 was secured 

accounts as collateral for th

insurance on the SS Angelo 

minated by the mortgagee

As of the close of the fisc

cipal of insured mortgage lo

to 464 119 633covering 68 s

Other forms of constru

As of June 301961 balanc

1751 422 compared with 

construction reserve funds 
during the fiscal year 1961 a

funds were closed by withdra

1

serve funds amounted to 

467 129

In addition to mandatory 

deposits on a tax deferred bas

2

tors were authorized for fo

870 712 As at the close 

applications from three subsi

1

voluntary deposits from 19

503 87

Operating differential sub

During the fiscal year no n

tracts were executed nor did an

operating differential subsidy 

Co which was scheduled to 

respect to the SS America w

At the close of the fiscal ye

operating differential subsidy 

tors involving services on ess

There was also on file one a

operator for authority to init

All operating differential s

years 1947 through 1957 have 

one wage rate one subsistence 

insurance rate all applicable t

ing before the Federal Maritim

1961 Of a total of 1085 o

quired for the years 1957 throu

as of June 30 i961 There we

subsidy less recapture made 

of operating differential subsi

Aid involving overage ship

On June 12 1960 there wa

provided for the extension of 

of sliips delivered on and after 

legislation required the review 

Federal Maritime Board per

eratingdifferential subsidy pa

which would become overage p

replacements This review re

the statutory life of 116 eligib

to Public Law 86518 and b 

of operating differential subsi

under the provisions of Public 

become 20 years of age prior 

placements these ships are show
Trade routes

During the year emphas

flag requirements for servic

overseas foreign areas Fo

ning with the 1961 navig

essential trade routes betwe

lowing foreign areas were 

Lawrence River ports Fast 

America Far East West A

New Zealand Indonesia M

Persian Gulf and Red Sea

In addition the essentia

six USforeign trade route

also made of the service requ

These reviews made in acc

the Merchant Marine Act 

essentiality

Ship Ope

Oceangoing traffic

During the year some in

volume The increase how

ployment of the merchant f

tonnage ofUSflag dryca

as of June 30 1061 was app

similar status as compared 

volume of US waterborne 

first 6 months of fiscal year 

lion tons in excess of that fo

1960

In order to assure complian

Law 664 83d Congress the 

maintain close liaison with o

ministration of Public Resol

involving 13 nations were a

countries to participate up 

ExportImport Bank In 

general waivers granted in p

with the terms of the waiver

the general waivers grante

than 50 percent of the total m

Charters and general a

As of the end of the fisca

under bareboat charter an 

M
responding total at the close 

eight of these were traded in 

continued to be used by the f

until the new ships are comp

in the Alaskan trade

At the beginning of the fis

to two general agents to meet 

portation Service Three of 

in the Pacific area and the ot

William Patterson in the At

erated ships remain in MSTS 

and placed in the Reserve Flee

Ship custody

At the close of fiscal year 1

fleets Ships taken into the 

277 were withdrawn for a 

were assigned to the various fle

Hudson River 

James River 

Wilmington 

Alobile 

In accordance with section 

of 1946 the 5year disposal p

reevaluated As a result th

Liberty ships over a 2year 

templated These ships woul

cies apart from merchant s

purposes

Funds appropriated by Co

the scheduling of 71 percent 

the 891 priority ships being 

mainly to the severe winter 

serve Fleet and to hurricane 

Fleet only 88 percent of the 

completed during the year

At the close of fiscal year 

grain for the account of the C

ment of Agriculture which we

representing a net increase of 

preceding year

Ship repair

During the year 2624 insp

sity for and the satisfactory 

ships In addition 28 full con

ship condition at time of chang
A total of 1560 repair sum

were reviewed and of the 28 

pation 09 million was dete

Approximately 1360 othe

estimates were made to assu

ments on ships which were 

b traded in and returned t

Use Agreement c redeliv

for lay up d operated und

gage insurance contracts e 

tration under General Agen

suant to Public Law 86575

Merchant marine award

During fiscal year 1961 t

authority of Public Law 759 

the Master of the SS Mered

crew of MV Western Pione

of SS Lsso BetAklievn The 

the Merchant Marine ships 

Pioneer under authority of Pu

Research 

There was continued durin

ment program directed to ac

in the operation of the Ame

has as its major objective the 

and technical advances ther

industry capable of competin

of Government subsidy The 

principal areas of research an

ship development 2 advanc

ing basic research

In the area of mechanized 

during the year of ship con

auxiliary equipment In th

were awarded during the ye

sign development and fabr

computer United Aircraft C

ration of preliminary designs 

and steering system Electric 

fabrication of an improved typ

for the development of math

ships lines and integrating t

fabricating equipment

10
Projects and efforts in the 

investigation of the potentia

including nuclear as well as s

the nuclear aspect of this ac

the Atomic Energy Commiss

ment work aimed at achieving 

powered merchant ships whic

foreign commerce The jo

Energy Commission project 

DIGCR continued On t

Commission was preparing 

mental reactor to be utilize

ministrationfinanced turbo m

successful operation of the 

the turbo machinery fabricat

tems together as a prototype 

using the AEC National Rea

purpose The status of cons

the NS Savannah the world s

in the section of this report t

The advanced high speed s

1961 was principally directed 

to the HS Denison covered 

Construction a a joint 

Research Department of the 

ment and fabrication of more 

on the Denison later and b 

analysis of hydrofoil ships 

Maritime Administration by 

In other advanced ship wo

effect concept was continued 

pected to lead to the design a

of this type

Other projects included a 

including research evaluation 

turning and steering by the S

investigation of methods for 

the Massachusetts Institute o

pulsion tests on large models b

in structural research and m

ships being conducted by the 

conduct of cargo handling stu

tation Conference of the Nati

A significant project in th

program is all operation analy

tion systems by Arthur D L

which will provide current ba

maritime transportation The 

sistance to the Maritime Admin

616091 61 3 
future trends in volume of c

of the United States and th

such movements Further 

feasible areas for future re

analysis is expected to be com

Ship 

NS Savannah

Construction of the first n

Savannah and the servicing 

completed during the year 

preparatory to loading nucle

tract was entered into with 

and services for shipping s

Savannah to a reprocessing si

During the year a nonad

the Atomic Energy Commis

posed test operation The he

and trial including nuclear 

percent of full power follow

and builders sea trials

Regulatory responsibilities 

were established with the sign

the Maritime Administratio

USPublic Health Service 

each agency agreed to underta

Discussions and negotiations 

tinued satisfactorily with res

in their ports and harbors

Advanced ship concepts

Construction of the hull an

foil seacraft HS Denison w

expected early in the fall of 

was executed with Dynamic D

operations of the craft beginn

the commercial service of the 

the year to obtain an operator 

to the solicitation were being 

operation will be under a

Administration

Other construction

During the year the total 

struction conversion recons

12
owned shipyards increased fro

period the 69 under contract 

versions and reconstructions 

awarded for 40 new vessels a

Construction of one large tan

of smaller size which are incl

same period 30 new ships and 

completed Hence at the end 

and 14 conversions and recons

contract value of approximat

55 ships having an estimated 

622 8 million were under t

program

At the beginning of the fisca

under Federal Maritime Board 

under the subsidized operators 

were completed during the yea

1936 as amended namely 3 c

Co Inc 4 cargo ships for Am

Moore McCormack Lines 1 ca

2 cargo ships for Mississippi S

servicing ship under Public La

During the reporting period 

Administration contracts were 

cluding two hydrographic surv

Survey and 31 cargo ships Al

der Title V Merchant Marine A

subsidized operators replaceme

flected in the section of this r

Subsidy All contract awards 

of Public Law 805 84th Congr

Merchant Marine Act 1936 a

location of contracts under c

the fiscal year no need for alloc

tract was awarded under provis

summary of new ship construct

Appendix C

Ship conversion and reco

A contract was awarded dur

Marine Act 1936 for conversio

SS Lei7ani

Technical developments an

The Maritime Administration 

cargo ships which are designed 

handling systems and a prelimi

veloped These studies include

fleet of the proposed ships on 
foreign trade route and a 

those of the actual ships s

the proposed ships could 

profitably and with subst

studies will be utilized in p

Seakeeping instrumentat

cargo ship the SS Mmmwe

motion responses thereto 

project is intended to provid

test techniques and to pro

designs

A ship service genera

mately the last 2 years w

marily as a source of po

inport electrical loads whil

nance and repair There w

can utilize the heat from th

the steam required by an a

these units will be installed 

for evaluation during the re

During the year a contra

gating the performance of 

regulated by a static alterna

the winches will be insta

evaluation

Ma

United States Merchan

The United States Merc

tution under the provisions 

training during the fiscal y

cessfully completing the 4y

received US merchant m

Coast Guard as third mat

gineers 96 in number of 

science degrees and if qu

Naval Reserve

There were 2530 candida

by Members of Congress 3

the entrance and physical 

by Members of Congress p

since this practice was insti

national representation by S

Due to other commitme

of the Advisory Board to t

14
emy and the Congressional Boa

tive annual meetings at the A

Advisory Board authorized u

is composed of the following 

instructions Concordia Colleg

Humanities and Social Stud

nology Guy R Cowing cha

Motors Institute Harvey H 

Iowa Lewis A Laplram c

Bankers Trust Co Martin A 

George Washington Universit

Shipping Co Inc The Cong

of Senators Warren G Mag

Engle California Clifford P 

Maine and Representatives II

officio Lester IIoltzman Se

Thomas N Downing Virginia 

Zelenko New York

During fiscal year 1961 the 

vious recommendations of t

4250 000 for each of the fiscal 

the Congress for moderniza

Academy b courses in atom

to the curriculum c HR 

taining provisions which wil

administrative staff at the Ac

of section 202 of the Agric

Academy acquired surplus d

allowance to a level consiste

Federal academies

Interior furnishings and ot

stalled in the memorial chape

religious denominations was 

serve as a National Memoria

wartime

State maritime academies

The State maritime academ

and Hyannis Mass and the 

Fort Schuyler NY had a 

cadets for the fiscal year Pu

mately 147 of these cadets 

4600 each for the purpose of 

books and subsistence and e

assistance payment of 475 000 

of the school There were 266 

marine officer licenses as third 

ant engineers 154 in numbe

Guard and those who qualifi
the US Naval Reserve I

appropriate degrees in their 

Other activities

The Maritime Administrs

was continued with three r

York New Orleans and San 

pursuant to the recommenda

of the House Merchant Mari

January 3 1957 Since i

1957 over 6000 certificates 

have been issued to seagoing 

operation and use and inter

tion The training of lice

atomic biological and chem

damage control was also 

jointly by the Maritime Adm

portation Service and was a

Ship Sal

Ship sales

During fiscal year 1958 th

the Department of the Navy 

of the World War II Liberty

serve Fleet Subsequent rev

of the Navy provided for th

type ships and 102 other type

ity of the Merchant Marine 

having a collective sales pric

ing fiscal year 1961 The s

during fiscal years 1955 195

tary return to the Governme

Transwestern acquired by th

suant to Public Law 86575 

On July 28 1960 the SS 

passenger ship was sold to 

million for operation in the 

Leilani was acquired by the 

when it was auctioned off a

tuted after default in mortga

the Government under the F

program In addition two 

Republic of China under the 

total of 102 027 less credit 

and depreciation during tha

China that was cancelled by m

16
Transfer to foreign own

Approvals of application

andor registry of 975 ship

pursuant to sections 9 and 3

approved 130 were of 1000 

tankers 79 drycargo ships 

laneous types schooners d

were of less than 1000 gross 

and pleasure craft Fortyo

to aliens were approved by t

In November of 1960 a m

respect to transfer to foreign 

gross tons and over which p

transfer that the foreign ow

to other foreign interests fo

within the Soviet Bloc an

Maritime Administration 

charters during the year und

on a bareboat basis to acce

year another modification o

transfer to Canadian owners

without prior approval of th

vessel is 65 feet and under in 

power and the buyer is a cit

With respect to transfers p

viding for continuing contra

tration there were authorized 

of 44 ships 35 from foreign 

and flag and 9 from foreign 

and flag b sale of 26 ship

transfer of flag c sale of 1

countries d transfer of st

e abandonment of 1 ship t

contracting parties involving 

Shipping S

A nwnber of studies were m

of reports prepared of nation

fields of shipping and ship c

prehensive statistical informa

ings before the Congress and 

applications for subsidy rate 

The Maritime Administra

National Archives and Rec

standardize and reduce the in
documents required of ocean 

with this study the Secretary 

Transportation Facilitation C

Secretary for Transportatio

mental committee are to fost

United States Government ag

assist the Department of Sta

matters related to internation

An improved system was i

characteristic data for every 

by the Planning Board for O

Organization These data ca

essential information concer

characteristics can readily be m

Ship and cargo data

During the fiscal year 63

reports representing US an

gaged in the oceanborne fre

received and processed Com

prepared from these reports a

ings regarding applications f

ference agreements Foreign

freight passenger liner servic

for operating differential subs

Important publications iss

United States Flag Ships in 

tion of Principal National Fla

Trad1959 and Domesti

of the United States 1959 

tinued to be issued are those s

Port development

As reported at the close of 

neers for Rivers and Harbo

Maritime Administration ag

Series under which the Boar

will issue a newly designated 

dividual port basis and the M

I of the Port Series on a reg

new agreement has been com

and constitutes a single volu

our western ports which for t

and Hawaii this report will 

early in fiscal year 1962

Labor data and labor ma

Seafaring employment opp

merchant ships of 1000 gross 

18
ing the closing days of the f

June 1961 Immediately pri

level of 48500 a loss of 700 f

80 1960 Shipyard employm

of constructing ships 475 x 6

June 1960 employment figure 

June 1961 Of the 21 shipya

ment statistics two yardsMo

Great Lakes En W

operations Employment of 

ble during the year ith a m

men

The maritime strike comm

the close of the fiscal year pr

ther aggravated by the diffe

several union and managemen

Prope

Real property

The real property holding

clude reserve shipyards at R

terminals at Hoboken NJ a

NJ Baltimore lid Norfol

Calif a reserve training sta

chant Marine Academy Ki

Tomkins Cove NY Wilmin

Beaumont Tex Benicia Ca

The Maritime Administra

ing its real property holding

future need and maintenance 

acres at Manteca Calif wer

made by the General Service

tion of leases of real proper

income for the Year of 3410

maintenance costs

Warehouses

In fiscal year 1960 the Ma

vised warehousing policy ha

a program primarily for m

provide services for operatin

this policy a concerted effort 

the program for assembling 

sets of outfitting items for t

fleets In addition the wa

Yokosuka Japan was transf

61609161 4
the end of the fiscal year th

ministrative

7

equipment stoc

7015from the previous y

Material control invento

A number of contracts were 

lease of Governmentowned m

in defense contracts or in sup

addition to the leasing fees t

erage or bonding to assure th

condition as received less ord

tion costs borne by lessees R

mately 346 000for the fiscal y

Marine equipment on loan to 

ment agencies at the beginning 

Equipment valued at 548 615 

end of the fiscal year equipme

User charges collected from 

amounted to 24825

Excess and surplus persona

acquisition value of565273 

ministration This amount in

property valued at 8262 

value of1836 760 was dispose

fer without exchange of funds 

of3732 951 was sold or tra

with exchange of funds for a re

There were 92 ship and re

ventory certificates for consum

of 31057 as accounts receiv

Certificates of overages and s

of 448 355 as accounts receiv

Administra

Defense planning

Continued efforts were dire

ning including participation 

Program designed to equate th

materials essential for surviv

emergency The program w

lists the active participation 

well as 152 privately owned sh

In the area of the opera

planning was extended to ap

plexes in the United States 
Also an emergency port contr

the policies and to perform th

Administration sManual for 

of USPorts This organiz

emergency by 200 executiv

recruited from the port indust

In addition to the foregoing 

phases of defense planning w

report as appropriate A det

corporated in the Annual Re

Production

Internal management

The Maritime Administrati

zations and realignments of 

administration of its work 

studies were conducted inclu

ment of new and revised po

the Board s administration 

b determination of the fea

processing system to impro

activities

Personnel

The composition of the t

was affected by the expiratio

new Chairman during the ye

B Unander of Oregon whose 

was approved by the Senate 

an unexpired term expired J

of Virginia who was reappo

as a member of the Federal M

piring June 30 1962 was de

President on February 23 19

Vice Admiral Ralph E Nilso

ing as Chairman since July 

Wilson who was appointed 

Board for a 4year term expir

of the Federal Maritime B

Stakem as Chairman served 

Administrator effective Febru

During the year ending Ju

by a net reduction of 155 pos

June 30 1960 to a total of 

reason for the decrease in to

was the completion of variou

the eight National Defense 

ductions in the Navy ship pre
grain program in the laidu

the termination of appointm

engaged in maintenance and p

Financial relationships w

Activities in this area inc

conditions in the shipping 

analyses of financial stateme

ment sinterests as mortgagee 

gage loans in the processin

warbuilt ships authorized by 

and reviewing restricted fund

Title XI of the Merchant Ma

Accounting

Accounting operations wer

accordance with principles a

troller General of the Unite

Federal Maritime Board and 

in the exhibits and schedules 

Of the 51 agents under N

originating in 1951 only 1 w

accounts of 40 had been clo

ecuted with 26 of the closed a

the Maritime Administration 

operation of the nuclear ship 

NSV Atomic Servant

Audits

Under operatingdifferent

subsidy accountings were com

12 subsidized operators cover

calendar year 1957 resultin

final 10 percent of accrued o

eligible for subsidy except f

insurance have been audite

1959 Wage expenses for nin

through the calendar year 1

surance expenses generally t

audits permitted payments o

differential subsidy for such e

agreements have for the m

ments of litigated matters 

22
construction and related cont

basis Audits completed dur

proximately 162 000 in addit

Capital and Special Reser

aggregated 136 884 13 and 

forth by operators in Appe

year 1961 such balances amo

respectively

In addition to mandatory 

mitted with approval of the 

tary deposits from earnings 

the statutory reserve funds o

rent fiscal year voluntary dep

in the amount of1503 87 we

Insurance

The war risk insurance pr

Merchant Ala rine Act 1936 a

1961 to incorporate changes 

istrator including other chan

mercial policies Under the 

of June 30 1961 were as fo

demnity 867 crew life and p

this program net binder fees 

were received and a total o

curred of which 218 692 was 

Collections were continued 

builder srisk insurance und

From the inception of the p

builder srisk policies had been 

were received War risk insu

also provided should commer

able terms and conditions O

underwriting agents 21 rema

At the request of the Secr

of Transportation legal lia

premium to a maritime contr

aggregate of all claims arisin

has been in effect continuous

insurance in the required amo

extended for an additional 9

arrangement provides for ind

Army for all losses paid by 

no claims have been reported

Under the Maritime Admin

hull war risk and second sea

on its Governmentowned sh

at the request of the Departm

on a reimbursable basis rem
operated tankers As of Ju

arrangement claim payments 

imately 10800 set aside as a 

plan a net premium saving t

mated at 67800

As a result of competitive 

indemnity risks was renewe

tional Automobile Casualt

ing ships operated by gener

thority for the Military Sea T

During fiscal year 1961 un

time protection and indemn

recovered from underwriters 

of June 30 1961 the comme

as a reserve for the settlement 

Effective April 1 1961 a ne

on ships with mortgages insu

rine Act 1936 as amended e

tors This new insurance 

Maritime Administration and 

of the principle of the mortg

policies

The Maritime Administr

renewals thereof obtained i

charterers and subsidized op

Rind of insumnce 

Marine null 

Marine Protection and Indemnity 

War Rlsklull 

War Risk Promotion and Indemnity 

Notes and accounts rece

Of the balance of account

approximately 19 million a

sents items on which active c

remainder was made up of a

the time of final accountings 

Justice accrued construction 

ship construction matters pe

accounts on the books of th

agents Of billings made d

only 579 627 or approxima

from miscellaneous debtors 

at the end of the year Th

items totaling 3054 68 on 

and other basic determination

The following reflects the 

miralty Act during the yea

24
claimed were settled in favo

six claims upon which 2134

the Government for199 777

Leg

Legal services and opinions 

use with respect to the prog

time BoardMaritime Admin

continued with representativ

Government agencies with r

administration of the maritim

the administration of progra

cant legal activities are stated 

Litigation

During the fiscal year the

tivity in litigation involving 

Maritime Board in its regul

carriers and others in the fo

well as the offshore domestic 

operatingdifferential subsid

Act 1936 Eightythree suc

54 which challenged the va

Board under section 21 of th

Cases before the courts wh

ing Kerr Steamship Co I

Maritime Board and Montsh

Board and United States in 

the 2d Circuit and DC Circ

section 21 to require product

in dispute However the DC 

section 21 orders failed to st

and it therefore remanded to 

which were pending in that C

time Board in which the C

to 1 vote the Board sdecision 

other commodities was also 

violated the Shipping Act 

special contract to selected 

1961 by the Supreme Cou

Federal Maritime Board and 

Appeals DCCir vacated 

increases in the Atlantic and 

same to the Board for recon
propriety of the increases a

sion and Cargill Inc v Unit

in which the Court of Appea

ings that agreements for the 

for stevedoring services in co

filing and approval under se

the Board correctly disappro

lative of the act

Suits under the Merchant 

constitute the bulls of pendin

of a new suit brought to 15 th

incident to 1956 and 1957 c

Still pending are the 44 suits 

additional charter hire claim

estimated

5

40 million and 

In the 14 charte

remanded to the Court of Ap

of Appeals on May 26 1961 

and remanded 8 to the distri

three other charter hire cas

market rate issues against th

court held also that the slidi

sliding scale issue is still ope

parties as to the statute app

of Claims suit involving ad

mination of the court sjurisd

tional charter hire under the 

missed as moot Also still p

of contingent basic charter hi

Of the suits involving the 

of the Ship Sales Act two cla

totaling 961 247 are pendin

decision against the Governm

minated by decision against 

for class work on a vessel p

other involving a claim for 6

chased ship was settled for 2

invalidity of the conditions i

fers of ships was decided ag

suit in that category for 2995

suits by citizen buyers for d

are pending and two Court 

desirablefeatures refunds cl

Claims totaling 130 00 by 

of ships for desirable featu

covering approximately 22 sh

Other areas of litigation i

of the Government ssuits 

26
Coast Progress and John B 

covery of the vessel and in th

ing an unpaid balance of 10

which is being sought from f

of Claims dismissal of the pe

US Maritime Service US 

that their reclassification dow

and judgment for the remain

consent decree for 325 000 in 

ernment for 408 979 for alleg

of profits under ship constru

tanker Jeanny litigation inc

which the Government coul

wherein the Government was 

ment of the sum of 100 0 to 

Corp with the shipowner an

claims between themselves e 

ing the Spar Shipping Admin

Stephen T Mather and the 

under the terms of which the 

damages and collected from 

owner a total of 907 683

Legislation

The Federal Maritime BM

or submitted statements or re

reports and recommendations 

Director Bureau of the Budg

posals the more significant 

operating differential subsidy 

faculty and administrative s

Reorganization Plan No 7 o

Board and transfer its regul

time Commission and its sub

Secretary of Commerce aut

ing for the operation of steam

noncontiguous water transp

building differential author

research and development to 

of operating differential subs

either at time of contracting 

Contract administration

A voluminous number of c

uments were drafted and ex

scribed in other sections of th

siderations of executive and 

tion and interpretation of stat

611 09 of a 
Internationa

The Maritime Administrat

fourth meeting of the Coun

Consultative Organization in 

the Maritime Administration 

meeting of the IMCO Assem

ters of importance in the field 

program to facilitate shippin

tion of shipping documents we

The Eleventh Diplomatic 

from April 17 to 29 1961 rai

ment of Belgium and the Inte

Conference adopted and ope

vention to unify the legal pr

owners for personal injury or 

and adopted a text for an int

bility of the operators of nuc

This text is to be submitted f

ernments that sent delegation

be held as soon as possible to 

signature The Maritime Ad

Department coordinated the 

tion and provided the chairm

ference

The 13th Meeting of the P

the North Atlantic Treaty O

1961 A member of the Fed

the chairman of the USde

government shipping represe

well as observers from the v

international secretariat of 

was represented on the Spec

in London in January 1961 a

Civil Emergency Planning C

During the year staff of th

in preparations for the confe

international convention to p

water discharge from mercha

also participated in the stud

Paris Liability Convention 

in connection with the trans

continuing work toward a glo

ing sponsored by the Interna

In other areas of internat

ministration represented the 

nical Committee on Ports 

Maritime Administration off

28
tional Commission and Pe

the Permanent Internationa

c the agency continued to 

State in providing supervisi

nationals training in the ma

trainees of the International 

quested by the International 

is currently participating in 

Merchant Marine Training 

and a similar project with th

the Maritime Administratio

tional Cooperation Administ

Indies Federation and the for

Regula

The Federal Maritime Bo

rates services practices and 

in the domestic and foreign 

operators freight forwarder

ping statutes The continu

further intensification of the 

able cargo Such efforts gave 

and protests both valid an

classifications rebates and o

ther hearings of the Antitrust 

of the House of Representa

alleged violations of the shipp

During the fiscal year 113 

73 were referred by the Antit

ciary of the House of Repr

complaints were resolved wh

existed where compliance wi

tively or where formal Boar

fiscal year 133 investigative 

above committee were pend

various offices of the Board 

119 informal complaints we

have resulted in fines settlem

were four convictions served 

the recovery of3962

Throughout the fiscal year 

tests and comments submitted 

proceedings which were instit

the following areas a filing 

riers engaged in the foreign 
States and adoption of a syste

public inspection b filing 

riers engaged in the foreign 

States c filing of agreement

Act 1916 d filing of sche

operators and e practices o

that all or most of the above 

first half of fiscal year 1962 p

commerce Voicing their ob

foreign carriers have expresse

posals At the close of fiscal 

cision in Docket Nos 765 83

reaction This decision is co

of this report titled Procee

Conference and other ag

The Federal Maritime Board 

Shipping Act 1916 133 new 

ments and 36 agreement cance

ments approved were a new 

coast to Europe via the Carib

conferences from the Gulf a

Kingdom and Europe two n

and from the East Coast of In

South Atlantic and Gulf por

ing the USPacific coastGu

Atlantic and Gulf Mediterra

Atlantic and Gulf and US 

tively and a pooling arrange

to the United States

The Board on its own mot

termine whether an agreemen

operating to and from USAt

plete andor whether it is bein

tion of the Shipping Act 191

tices operations actions and 

westbound trade from Italia

North Atlantic ports 3 to d

ment between Lloyd Brasilei

in the trade between US po

justly discriminatory or detri

States 4 with respect to an 

ship Co Inc Isbrandtsen C

Inc governing the sale and t

the lawfulness of a new rate a

Atlantic and GulfPuerto Ric

ently approved agreement of th

The Board also issued an 

Conference to show cause why 

30
not be cancelled for failure b

requests for information an

activities of the conference

Rates foreign

A total of 33466 rate filin

freight and passengers repr

1000 over fiscal year 1960 G

rates were received which ran

Increased operating costs of t

necessitating such increases

Examination was made of 

tory rates and practices amb

tions which might lead to imp

unlawful tariff practices A 

were made to develop inform

vestigations and for formal 

Information and advice was f

Government agencies and the 

of tariff provisions special 

dividual rates and tariff class

RatesUSoffshore dom

A total of2926 freight and 

ing the year a decrease of 74

one of these filings were rej

plicable statute or Board reg

Board order in it docketed pro

essed in which applicants 

changes in rates and fares on 

waive the freeze provisions 

be made in suspended matter 

order in it docketed proceed

tions The Board approved 6

9 were withdrawn by the a

submitted to the Board reco

ductions or other tariff matter

two orders or amendments the

The Board on its own mo

tigations into various rate cha

trades are currently under i

Virgin Islands trade As pa

sued 17 suspension orders incl

Terminals

A total of 3144 tariff filin

the fiscal year an increase of 6

were 13 informal complaints 

and 20 more were received 
satisfactorily concluded durin

close of the fiscal year

There are 13 terminal con

viding for joint consultation 

and approved pursuant to t

parties covering free time a

York harbor and 17 agreem

berth assignments

In late 1960 terminal ope

Portland became involved in 

in the granting of excessive 

allowed became more and m

investigation and formal hea

operators to desist from thes

proceedings Through infor

untary withdrawal of the ex

secured and the formal procee

Freight forwarders

The total number of ocean 

to the Board sGeneral Ord

fiscal year was 1721 This 

62 cancellations or an increas

Proceedings Be

In the annual report for f

ported as pending at the clos

were sub numbers to Docket N

tion claims of a nonrecurrin

ceeding they are reported h

beginning of this fiscal yea

and there were filed during 

sidy cases 1 case was returne

court remand in addition 1 

a total of 158 cases The Bo

Administrator or Deputy A

reports were issued in 34 ca

without report The examin

recommended or initial decis

Final decisions of the B

Docket No 765 Investigation 

ments of Ocean Freight Forwarde

of General Order 72 46 CFR 2

and Agreements of Common Car

Brokerage or Other Fees to Ocea

32
was found in these proceedings w

performance by forwarders of fo

compensatory charges to shipper

the shipments constituted a vio

forwarders in assessing charges 

guised markups to charges for ac

services free or at noncompensa

others practiced undue or unrea

of section 16 First of the act a

practices in violation of section 

establish observe and enforce ju

relating to or connected with re

this regard were unjust and unrea

the act d performance by carr

charges was a rebate in violation 

payments by carriers resulting in 

unreasonable practice in violation 

tions of the act occurred regu

existed It was further found th

carried out agreements or arrange

pooling or apportioning of earni

connection with the performance 

of the Board in violation of Sec

that the findings in prior decision

ments between carriers prohibitin

to less than 14 percent of freigh

commerce of the United States we

Docket No 802dliscla8sificatio

Manufactured Glassware Items a

have knowingly and willfully m

other glassware items obtaining 

wise have been available in v

Respondent carriers were found 

at less than the applicable rates 

of section 16 Second of the act 

of Justice

Docket No 815 Common Carr

Track Lines and Other Non Ves

or business association who holds 

tenance of tariffs by advertisem

transportation for hire by water 

responsibility or has liability impo

shipments and arranges in his o

performance of such transportati

means by which such transportat

as defined in the Shipping Act 191

Docket No 819Absorption or E

nection with Transportation by 

shipper respondent had knowingly 

shipments at less than the rates 

an unjust or unfair device in vio

that the carrier respondents had 

at less than the regular rates by m

that shipper undue or unreasonab

discriminated between shippers o

and Second and section 17 of the a

Docket No 827 827 Sub No 

colombiana SA Complainant w

by respondent srefusal to allocate 
refrigerated space on responde

s

Ecuador to US North Atlantic p

Docket No 833Maat8chappij 

Anchor Line Limited et al On r

ing having been reopened by the 

certain of the respondents had v

by entering into and failing to 

fixing or regulating transportatio

otherwise regulating the number 

providing for exclusive preferen

discussion of the prior decisions 

843 which is reversed as to the a

Report for fiscal year 1960

Docket No 848 Classification 

Corporation N N Serper Com

Respondents forwarders of paper 

found to have knowingly and will

transportation by water for prop

otherwise would be applicable in 

Docket No 849Agreement and 

Gulf and South Atlantic Havana 

Docket No 851In the Matter of 

G13 of Gulf and South Atlan

No 4188Docket No 854Swi

Gulf and South Atlantic Havana 

these proceedings which were 

of freighting agreement proposed 

originating at any inland port or 

any river or inland waterway te

Gulf or South Atlantic port of th

an agreement by a common carr

section 15 of the Shipping Act 

that such provision contravened s

sections 14 Third 16 and 17 of t

reparation for damages due to suc

Docket No 853 Raymond Int

found that the classification of f

the rate charged on a shipment 

York NYto Las Piedras Vene

or 17 Shipping Act 1916

Docket No 868 Misclassificat

Silica It was found that shippe

and willfully by false classifica

silica from New Orleans La to E

than the rates or charges which w

first paragraph of section 16 Sh

did not allow shippers and forw

ments at less than the regular rat

the line of such carriers in vio

Shipping Act 1916 as amended

Docket No 871 Investigation o

Line Inc Trans Oceanic Agencie

at the Ports of Stockton and Oak

providing storage on imports at S

rates without tariffs with a lac

and commodities and by acting 

Pacific Far East Line Inc State

and TransOceanic Agencies as a 

Agencies Inc and Howard Term

1916 were in violation of section

34
Docket No 879Investigation 

Longviewo Commission at the Por

practices of respondent of granti

Longview Wash under terms n

dicial and preferential in violatio

able in violation of section 17 S

was entered

Docket No 889 Unapproved 

Trade Respondents Moore McC

and Transatlantic Steamship Co 

carried out before approval unde

prior thereto an agreement affect

to United States North Atlantic 

found to have been lawfully carr

as heretofore approved by the Bo

Docket No S57 Sub No 5

Permission Under Section 805 a

granted to States Marine Lines 

an operatingdifferential subsidy 

operation of the SS Alaskan a ta

of States Marine Lines Inc in t

and lubricating oil in domestic c

band and US Gulf and Atlanti

Alaskan to be chartered for the 

since granting of the permission f

any person firm or corporation o

coastal service and 2 not to b

Merchant Marine Act 1936 as am

Docket No S60 Sub No 2

804 Merchant Marine Act 193

Co Inc Waiver Under Section 

cumstances and good cause were 

section 804 of the Merchant Ma

president and director of Isbrand

stock of Canadian Foreign Stea

foreign flag vessels Waiver of 

upon 90 days notice to the operato

Docket No SGr Lykes Bros 

Codppiications to Extend Ser

that service already provided by 

other than Tampa Port Tampa 

accomplishment of the purposes 

as amended additional vessels 

ports and East Coast UliCouti

no bar to granting of applicatio

Bloomfield Steamship Co for exte

Docket No S73Waterman 

Differodial Subsidy as to Sect

ings were made 1 Waterman 

of its subsidiary Waterman Ste

rights under section 805 a of 

of 26 sailings annually between 

in Puerto Rico 2 permission 

ship Corp Peurto Rico to contin

east of and including New Orl

granted to continue service by its 

Sea Land Service Inc between 

4 its affiliate Pan Atlantic St

grandfather rights under sect

from New York to New Orleans to 
four vessels but does not have a

New Orleans to New York 5 

service by its affiliate Pan Atlant

northbound from New Orleans to 

provide two vessel weekly tradlers

Houston Tex 7 permission w

Monarch of the Seas to Waterma

Mexico ports and Puerto Rico 8 

charter SS Bienvi 11e SS Raphael 

Gateway City to Pan Atlantic Se

ports on the US Atlantic and Gu

Puerto Rico trade 9 permissio

Waterman Puerto Rico in the Un

Corporation and Containerships I

Docket No 573 Sub No 1

Section 805 a Permission Perm

Corp to engage in domestic coast

and ports in Puerto Rico for con

Industries Inc and the officers a

Waterman in Waterman Steamsh

arrrangements between Waterma

California and Waterman Steams

such service

Docket No 573 Sub No 2

Under Section 804 of the Merchan

sion was granted for 1 Waterm

agent for Hamburg Amerika Linde 

sels competing with essential Am

Waterman Lines Antwerp S A 

act as agent for Geo H Scales L

act as agent for Moor Line Ltd

Docket No 591Grace Line 

Haiti from US Atlantic Ports 

Inc to PortauPrince Haiti fro

existing service by vessels of U

route or line served by citizens o

in the accomplishment of the purp

1936 additional vessels should be o

Docket No 5113 In Be Grac

LakesCaribbean Denied reques

section 606 4 Merchant Marine 

ential Subsidy Agreement and a 

Line each year during the period 

vessels on the berth service desi

LakesCaribbean on the ground

vessels with a reasonable profit o

modified to exclude route 33 line 

Line to the amendment on conditio

Docket No 5114Gulf Sout

that the operation of northbound C

Vapores on Essential Trade Rout

America in 1958 did not const

given effect in determining the s

petition for the purpose of determ

1959 for Gulf South American St

Applications Under section 8a 

No 5115Moore McCormack Lin

Line Inc Docket No 5118 Am

MooreMcCormack Lines Inc Doc

Docket No 5123The Oceanic S

36
McCormack Lines Inc The fore

tors applications for written per

the coastwise or intercoastal trad

mission for one voyage except in 

for continuance of certain domestic 

5123 which covered a charter requ

in the intercoastal service Perm

under each specific circumstance t

to result in unfair competition to 

clusively in the coastwise or interc

objects and policy of the Merchant 

Decisions of hearing exa

Docket No 857Brans Cooperag

Port of New Orleans It was fo

tollage charge on cargo transferre

spondent swharf without cargo m

unduly prejudicial

Docket No 869 Pacific CoastH

Increases in Rates The increase

transportation of property between 

unreasonable

Docket No 880 United States 

Pan Atlantic Steamship Corp It 

naming pickup and delivery rates i

services incidental to common carr

ports in Puerto Rico and as such 

and is lawfully on idle that these 

Puerto Rico were not shown to r

violation of section 2 of the inte

Shipping Act 1916 and that cont

livery service on behalf of the resp

other persons subject to the Shippi

spondents were not subject to ap

statute Dismissal of the compla

recommended After issuance of t

withdrawn by the complainant

Docket No 892 States dfarine L

16 Respondent States Marine Lin

pany a shipper in refunding and 

shipped from San Francisco Ca

were found to have knowingly 

Act 1916

Docket No 908 JapanAt7antic 

mission System It was found th

bracing the Fidelity Commission Sy

agreement of the Conference and 

Act 1916 b the proposed Fidelit

amendment of its terms and tariff 

would not be in violation of sectio

mission System is not a predatory 

independent carriers in violation 

main purposes are to limit compet

and to prevent resultant rate chaos 

shown for the proposed Fidelity Co

trade from Japan Korea and Ok

the proposed fidelity Commission 

unjustly discriminatory or unfair 

ports or between exporters from th
or detrimental to the commerce o

ping Act 1916 and f the agree

sion System should be approved 

agreement and tariff

Examiners also issued decision

871 879 889 557 Sub No 5 

S91 S114 and S123 described 

Administrator

Pending proceedings

At the close of the fiscal ye

which 51 were initiated on the 

were instituted by formal co

ferences trade associations s

and others

38
FINANCIA
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40

FEDERAL MARITIME BOAR

DEPARTM

Statement of Operations for th

OPERATIONS OF MARTIME ADMINISTRATION

Operating activites 

Revenue and reimbursements

Malntmrance of reserve fleet vesse

Maritime training Program 

Operation of warehouses 

Maintenance of reserve shipyard

Costs and expenses

Maintenance of reserve fleet vesse

Maritime training program 

Operation of warehouses 

Maintenance of reserve shipyards 

Loss on sale of fixed assets other than 

Net costs and expenses

Maintenance of reserve fleet vesse

Martime training program 

Operation of warehouses 

Maintenance of reserve shipyard

Direct subsidies and costs attributable to 

Estimated operatingdifferentia subsi

Adjustment of estimated recapturable 

Contractiondifferential subsidies 

Cost miational defense features 

Cost ofnationai defense allocations 

Uneapitalized ship construction

Financial assistance to State Marine Scho

Administrative expense 

Other costs and expenses

Provision for estimated losses on seta

Loss on vessels sold lost or abandone

Loss on sale of fixed assets other than 

Fire loss Kearny NJwarehouse 

Ioss on sale of surplus material and s

Reseorch and tests 

Provision for uncollectible accounts a

Inventory and other property adjustm

Miscellaneous 

OtherInterest incomeearned on notes and mortgage

Rcrnveries for use of national defense 

Miscellaneous 

Other costs and expensesn

Net cost of current year operations note 

ADJUSTMENTS APPRwABL TO PRIOR YEARS

Net charges arising from adjustments an

to World War 11 activities 

Participation in profits of World War II i

NET COST OF MARTINE ADMINISTRATION O

Netincemeloss from National Shipping A

Net income from War Risk Insurance Progra

Tet income from Federal Ship Mortgage Insu

NET COST OF COMBINED OPERATIONS 

Includes reconstmetiondifferential subsi

b Principally administrative expense

42
FEDERAL MARITIME BOA

DEPART

Statement of Equity of the Un

June 

BALANCE BEOrNNrvo OF

BAL ANCC CLOSE OF

able from p

estimated 

isferred from 

it1 of2the US

and othe

msferred to 

isels in fisca

dirlations t

313 in fisc

ansfermd 

year 1961 

S G0 1mm

agenc1e5

i in s

to US 
FEDERAL MARITIME BOAR

DEPARTM

Statement of Sources and Ap

Ju

SOURCES Funds appropriated by the Con gress 

Collections on mortgage loans rece

Proceeds from sale of vessels owned 

Funds advanced by other Government ag

Proceeds from sale of fixed assets other tha

Mobilization inventories transferred to wa

Contributions received for Construction of 

Decrease in working capital per summary 

Total funds Provided 

APPLICATION

Net cost of operations per Statement of O

Items considered in net cost of operat

Provislon for estimated losses on s

Loss on rived assets sold lost or a

Ve

Other

ssels 

Payments into General Fund of USTre

Expenditures for vessels owned and under 

Unobligated balance of appropriations tran

Expenditures for land and site developm

including wnstructmn inProg

Working capital transferred to ether US 

Expenditures for mortgages and other lo

Total fundsappli

Summary of Ch

ASSETS Cash 

Advances 

Notes and accounts receivab

Accrued interest 

Materials and Supplies 

Other assets 

Total 

LIABILITIES Accounts payable and other liabilities 

Net untermated ln voyage revenue 

Total 

WORKING CAPITAL 

DECREASE IN WORKING CAPITA

Disbursements of950 1916in 1961 and 502

ment agencies offset against liabilities for adva

L
for

FEDERAL MARITIME BOAR

DEPARTM

Notes to Financial State

m

p

is 

e

a

torfes of materials and supp

or estimated cost to the Ad

ondition of the inventories i

expense

was 

administration was obligated 

ating to 2580 00 at June 

ave been accepted from vess

assure performance under c
FEDERAL MARITIME BOA

DEPART

Statement of Operations of Nat

June 

SHIPPING OPEEATION9

Vessels operated by general agents

Terminated voyage Results terminat

Revenue

Expenses

Gross profit from vesselo

Chartering of vessels to othe

Total gross income loss from s

NoNsnIPP No GPERATIONE

Vesselreaetivation c043

Vessel deactivation costs expense of res

Inventory adjustments and sales

Cost of testing and operation of NS SA

Inactive vessel expense idle status

Miscellaneous expenses

LessReimbursement of vessel reaetivatio

Reimbursement of vessel deactvati

Reimbursement of costs of testing a

Miscellaneous incomo

Net cost of nonshipping operations

ADHIN69TRATIVE EXPE48ES

NET INcoNE loss IROM 4

46
APP

AP

Summary of Operating Differentia 

Name of Operator 
Aid to Ships Over 20 Years of 

During Fiscal Year 1961 U

1936 as Amended

Company 

American Mail Line Ltd 

American Export Lines Inc 

American Ptts dent7ine Ltd 

Fm m1i Lines Inr

race Lino Inc 

Gulf South American Steamship Co In

Lykes Bros Steamship Co Inc 

MISSISalPPI Shipping Co Inc 

See footnote at end of table

50
Aid to Ships Over 20 Years of Ag

During Fiscal Year 1961 Under 

as Amended Continued

Company 

MooreMcCormack Lines Inc 

The Oceanic Svamibip Co 

Prudential Steamship Corp 

Stnetenm h1p Co 

CF Lines Co 

Treded in to the Oocemment and charrrd 

nea Inps
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urntnMCoe WMSFiima OOPS 
Cash and Appr

in the Statutory Capital and Sp

as o

Operator 

Amerfean Export Lines Inc 

Auercan Mall Line Ltd 

American President LinesLtd 

Bloomfield SteamshipCo 

Farrell Lines Inc 

Grace Line Inc 

Gulf South American Steamship Co Inc 

Lyykes Bros Steamship Co Inc

Mnsisgi pp1 ShIPPIng Co Inc 

Moore McCormack Lines lm 

Oceanic Steamship CoThe 

Pacific Far East Line Inc 

Prudential

States Steamship

Steamship

Co

Corp

United States Lines Co 

Total 

NOTE Accrued mandatory deposits appli

31 low not included in the above amount 

to the Capital Reserve Fund depreciation 

profits

4 1