The sun., 1919-03-19
HURLEY MARINE
FLEET BUBBLE
NEAR BURSTING
Shipping Board Head Tries
to Sell Vessels, but Price
Is Too High.
7 PUTS ISSUE TO PEOPLE
Problem of How to Use Vast
Tonnage Costing Billions.
Remains UnsOlved.

= In its possession OF millions OF tons
!. Of Government built shipping. for whose
y future no provision has been made, the
/, United States has on Its hands a prob,
{ lem which Calls for quick solution.
y What In to be done with this "gigan-'
!, tic trade fieet' OF the Administration?
/, Constructed to meet war needs. a great
part OF II Is worthless for peace require
: ments. And tho rest OF It that Is ut for
!, overseas service enters the field of In
ternationai commerce under the gravest
economic handicaps. In addition to on
setting the burden OF costs OF constrNic-
ton and operation far IN excess OF those
OF other nations II must provide for de-
rreciation on a basis toward which the
write Off of q billion dollars proposed
by Chairman Hurley OF the Shipping
Board Is only a step.
Less than two years old. the new mer-
chant marine has already reached the
parting of the ways. IT can go ahead no
longer on the old principle of disregard
OF costs and OF the rudiments OF eco
nomic law. Even Mr.. Hurley Mt last
shows signs OF perceiving this. He pro-
poses to decide the question OF the Gov
ernment's mercantile shipping. built.
medium Of a symposium OF all classes or
public opinion.
Funds Are Running Low.
II Mr. Hurley does not hasten with
his solution. however, at least one aspect
Of the problem will solve itself. The
golden sands In the hourglass OF appro-
priations provided by a Democratic Con-
gress are running low. In few months.
even at the present curtailed rate OF
production. they will be exhausted and
the rat-a-tat-tat' of the riveters Hurley
invented airgun tapping OUT new speed
records will be heard no longer in the
shipyards. s.
The editor OF FairpIay, a leading Brit
ssh shipping publication. states In a re-
cent issue of that paper that he has dis
cussed the future of the American ship
:. ping trade with experts from the United
States and that one and all have very
!. little doubt as to what Is In store for
ehipbuilders and shipowners. 'particu-
larly II the Shipping Board Is allowed
TO continue In existence much longer"
[ And he adds:
Indeed. one OF them went 30 far
I as to state that the action of the
|, Shipping Control Board in granting
[ all the demands made by workmen.
/ no matter how recklessly Incorporate
0uCH ucfthuub WcTcv tlAo hiCN ch5CN tic
cost of building steamers in America
by no less than 800 per ton dead
weight. and will bring the price OF
the fabricated boats at the Govern
ment yard at Hog Island. when fin-
ished. to nearer 5000 per ton dead
weight than the $1s5 originally esti-
mated. DO, t.t.t
"As with our own departmentalized
Industries. so with the American ship
: yards. extravaganza has dominated
control. with the result that at the
present moment II would be almost
out of the question TO place an order
with American shipbuilders for the
construction Of an ordinary cargo
steamer at less than 5000 per ton, a
figure which no American or other
owner could we'll afford to pay. par
t-"larly having regard to the fact
that me British Government has
been offering British standard boats
TO foreigners at little more than half
this figure. and that, with present
costs of running, II would not be
possible to earn sufficient in the near
future TO write the boat down to such
sum as would enable the purchaser
TO secure his capital on a resale"