Every evening, Wilmington daily commercial., 1921-12-12
SHIP BOARDS ASSETS
ARE S3,07O,599,5l
Owned and Controlled 1,74O
Vessels at End Of Fis-
cal Year.
BY Associated Press to Every Evening,


cal Year.
By Associated Press TO Every Evening,
Washington. Dec. 12.--Assets of tho
United States Shipping Board and
Emergency Fleet Corporation as of
last June 30 are given ns ss.o7o.5eg.-
blS In the report of the Board for
the fiscal year 1921, made public To-
day. Ships owned and controlled num-
bered LAO on that date and the num-
Der tied ZIP was 9s7. representing
about ~ per cent OF the total tonnage.
Tho principal item OF assets of the
board ms given I'm " a consolidated
balance sheet" is s2,ao3, ,eeo5li for OK
penditures on purchases, construction
and reconditioning owned vessels
available and I'm process" Plants and
property are listed at ss3.sos.o oar and
construction OF an Improvement To
housing projects and TRANSFORMATION
facilities at s17.sTs,7os making total
capital assets" of s2.5o5. .947. .25s.
Current assets include s3a.0d7 .9oa
general cash on hand and si02. sec. .37A
for material, supplies, etc. The report
says there viii be considerable
"shrinlSage" In the following items OF
current assets.
Accounts receivable s2sA. 1920. aot
notes receivable s7s,252,23s advances
s31,116,2I6 and investments I'm hous.
ing etc, ssd.eb5.s63.
Appropriations received bv ths
board from congress- and allotted
from the fund for national securit,
and defense total sa,3io,17n.5Te. nc.
cording to the balance sheet Current
liabilities are placed at st23.eggs7,
and capital liabilities at s2,5o4. 900.
Revenues received from tho opera,
tion OF ships from the beginning o
the board to last June 30 total 81 .aG1.
4bS,so4 while expenses of operating
the vessels are placed at s9,gso.3s4..
| 200. Revenues from sales of vessel,
are given as SOFA, oo7.42a with IN,
cost of the vessels sold as s3sT. pes.
/ 2e4.
A statement of financial operation,
for the fiscal year show receipts ol
seos,l35,42o and disbursements of sean..
bsa.426. Receipts listed include sfOb..
S12,t35 from appropriations sass. .0TO,.
S3l from operations and s57,6T2.tss
from sales" Disbursements include
s3S5,s6e.9h3 for operating expenses
s2a.7oa.2lT for general expenses and
Sl1o,3Te,1s7 for miscellaneous" Casf
on hand at the beginning OF the year
was tiie,466.sio.
At the end OF tho fiscal year covered
by the report the total number o
ships delivered To the board was 9.
2ss OF i3.359.el1 dead weight tons ou
OF total program Of sane vessels o
I13.636,ili tons. This left "a shin
under construction, of which fou
were on the ways and 20 outnttlng
Most OF these have since been de
livered
Deliveries during the year number
cd els OF l.737.550 dead-weight tons
while vessels still lin possession O
purchasers on June: 80 numbered IS
OF 1.s5l,e02 tons. Vessels returned {
the board and the s@lcs cancelled dur
ing the year numbered l2l OF 6S6.6i
lightweight tons. Sales for the yea
included 81 tugs for: s2,170,500 and 4
uncompleted wooden hulls for So
o63,542
In the twelve months the board au
thorized the transfer of foreign regis
try of 40l American craft of 202,2S
gross tons. Because of the unusus
activity in the oil trade i'm Mexic,
the report says. the board authorize
the transfer of 1i3 vessels, mostl
, barges and small craft TO Mexica
registry.
, Despite falling freight rates an
other causes which contributed TO III
!, laying up of more than half of III
government fleet, the board says
was able to extend trade routes an
/ that in the year 39S per cent of IL
nations $3.50 100000 foreign trad
: was carried in American bottoms. Tn
compares with 42.7 in 1920 and 81 p'
: cent in the year before the world wa
On June 80, the report continue
the board had a total of 410 gener
cargo berths; of which 393 were b.
I tween the United States and foreie
ports and coastwise service in II
United States and II between foreil
ports. Ships engaged in service
Europe number 306, 10 Africa is,
trans-Paciflc IS, South America
. West Indies and Caribbean 3S, al
!, foreign ports to foreign ports 2S.
Important steps for the develo
:, ment Of American shipping in Eurol
: and elsewhere were }aken, the L
port says, through the establishme
!, of additional bunkering stations al
shipping agencies The total of SUI
agencies at the end of the year w
"A, new ones having been establish
during the year at Bremen, Stoc
D holm, Helsingfors, Madrid, Valenc
Piraeus, Smyrna, Hongkong. Iquiq'
Dal5er. Bizerta, Montevideo, Rosar
= and Pernambuco.
e The ships engaged in trade wi
South America brought in 1929
cargo tons and carried out 1,432 81
= this traffic constituting 20 per ce
If and 22 per cent respectively of t
II total import and export trade wi
j. Latin-American ports. The shi
n were distributed seventeen to the ge
n eral trade, "a to Buenos Aires, 2 ca
e to Para and Iquiqui and one each
J. Paramaribo, Pernambuco, Rio Janer
G, Bahia and Valparaiso.