Polk County news. [volume] (Benton, Tenn.) 191?-1983, 1921-06-09
LOSSES CHARGED
TOSHIPPING BOARD
ASKS THOROUGH INVESTIGATION
INTO ALL AFFAIRS OF
SHIPPING BOARD
BOARD CRITICISED BY KING
Accuses "Ineompetent Men" Of Failure
To Sell Ships In Order
To Retain Jobs

washington. - Walter c. Teagle.
president of the Standard Oil company,
of New Jersey, recently eliminated
himself from those under considera-
ton by President Harding for chair
man of the shipping board.
Having learned that his name had
been placed before the president as
a possibility of the position Mr..
Teagle came to Washington and in
formed Mr.. Harding he regretted that
circumstances made it impossible at
this time for him to consider severance
of his connection with the Standard
Oil Company.
The development promised to delay
again the submission of nominations
for memberships of the board to the
senate. The president had hope to
close the whole matter this week.
Mr.. Teagle is the second prominent
business man who is understood to
have read himself out of the presi-
dents list of available men Off the
board craftsmanship. The other is
James A. Farrell, president of the
United States Steel corporation who,
it is believed, was seriously under
consideration for the appointment but
whose friends have indicated that he
would not accept it, if offered.
Declaring that the government Is
losing millions of dollars monthly In
its operation of ships, Senator King,
of Utah. has introduced resolution
seeking thorough inquiry into all az
fairs of the shipping board.
Kings resolution and his attack on
the board from the floor recently are
regarded as the beginning of what
probably will be a searching inquiry by
the senate into all phases of the gov
ernment's venture in shipping. Other
senators are prepared to support King
in his demand.
The governments losses in shipping
total more than three billions, King
declared. He said ships which cost
four billions to construct would not
bring more than 100000 if sold at this
time.
King charged the shipping board
with delinquency in failing to sell
wooden ships when it had the oppor-
tunity. He said the 800 wooden yes.
sells which were built and which are
now tied up were an absolute loss to
the government, as were seven ICON
crete vessels. The majority OF the
governments 100 ships are now tied
up, according to King and those in
operation are run at loss. He said
that but 7O6 vessels are in "intermlt-
tent operation" while 206 are tied up
entirely
AN official of the shipping board
told me-" said King, that the more
ships we tie up the more money we
save
King criticized the shipping board
for what he said was its failure to
follow the intent of congress to sell
ships as quickly as possible to private
owners. He charged that incompetent
men in the employ of the shipping
board desired to retain the ships in
order to keep their jobs.
Unfortunately, those charged with
carrying out of the law have gwen
meanings to the law hostile to the pur-
pose of congress- said King. "They
have tried to keep the ships in the
hands of the government, so they will
have jobs"
King intimated that some agencies
through which the government allo-
Gated it's ships for operation have re
ceived special consideration"
1T is obvious that if these persons
do any business at all their profits
must be enormous said King, "and
make the charge that in many cases
agents have operated allocated ships
without regard to efficiency or to pro-
fit for the government.