The sun., 1919-03-19

ent conditions will simply be to place on
the market an additional volume Of ton
mage, worth perhaps a quarter OF the
amount II costs to construct. And each
new vessel launched will simply be an
other addition to the long list OF mari
time liabilities piled up by the Govern
ment and one more expense for the tax
payer to meet.
II lack OF money cuts or the squan-
dering OF further billions by the Admin
istration through stopping the outpour-
Ing OF tonnage. much will have been
gained, but the shipping problem as a
whole will still be far from solution.
Something must be done with the mil
lions OF tons already constructed.
That the Shipping Board has scant
hopes OF securing the necessary funds to
carry on with and realizes that the ship
building bubble Is on the verge OF burst
ing. Is indicated by recent Developments.
Mr.. Hurley has announced the suspen-
sion or cancellation OF contracts on $50
vessels. aggregating 2,700, 900 tons (pre-
sumabiy deadweighO, In his statement
regarding this step he throws little
additional light on the troubled financial
situation OF the board.
I'VE are already presented with heavy
claims for damages sas q result or the
cancellations we have already made" he
says. ITO make many more would Gre
ate perfect orgy of litigation" SEQ
And in calling upon Congress for APP
preparations he adds that the funds re-
quested are not for the purpose of new
commitme nts but to meet obligations al
ready entered into.
On the heels OF Mr.. Hurley'e an
nouncement of reductions in the build
Ing programme comes another evidence
of eleventh hour economy on the part OF
the Government. Charles Piez. general
manager OF the Emergency Fleet Cor.
poration furnishes It. He says:
The shipyards must run them
selves after March 81. The Fleet
Corporation II not going to be their
guardian angel any longer. II there
are any increases in wages the ship
building comuanies must pay them.
As soon as the Fleet Corporation
renders . decision on wages II has to
pay for II. The shipbuilding con-
Germs have had a helping hand. or
rather a helping purse. for eighteen
months. And when the Macy Board
expires March 81. they must make
their own way"
Few Offers to Buy ships.
For weeks the Shipping Board ha.
been trying to md q market for some
at least. of the scores OF wooden ships Il
has on its hande. Advertisements wer,
placed In newspapers the country ovel
calling for bids for purchase or tim,
charter Of these vessels Only min,
chartering offers were received, and al
were rejected az being too low. Fo
$500 ton deadweight vessels the Gov
eminent Is quoted as making a purchas,
price OF SSS5.000. about four times tn,
pre-war price. For chartering the Gov
eminent II said to want SIS. 900
month. At that rate six months hir,
would about equal the purchase price o.
the same type and size OF vessel befor,
the war. Private shipping interests ar,
not likely to respond to offers of thii
kind.
The latest report in regard TO tn,
wooden craft Is that Mr.. Hurley is pre-
pairing to send some Of them abroad
purposing. IL they weather the oceaI
trip. to sell them to the Scandinavian
ma lions. where there Is a demand fo
this type of tonnage at present.
1t Is evident that the Shipping Boart
is trying to get from under. and equal,
evident that the task Is not an easy one
Shortly after the signing OF the arm
iscice' an official prominently Identified
with the war work OF the Government
handed in his resignation. following VI
the action with the remark:
well. boys, the circus Is over and tn,
big tents down. What's the use o.
sticking around to pick up the peanut
shells?"
No such easy way out of the muddl,
of the present situation is possible 70
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