Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1921-10-06

complished only a mere beginning
but a real beginning of the founda-
ton upon which n substantial struc-
ture of accomplishment, we hope,
may. in good time be erected.
After 1G weeks we find ourselves
with the framework of our human
organization accounting, operating,
financial. legal and liquidatioD prac-
tically completed" the chairman eX-
planned.
Financial reports are beginning to
come in. On September -, we had
our cash statement as of August
81. the second cash statement that 1t
has been possible for the new board
to have since it took Office. On the
same date our operating account for
the month of August was presented
and three weeks ago the result of
the inventory of all of the shipping
boards materials and supplies (not
including plants, ships, or accounts)
was available for the consideration
of the board and for the adoption of
q policy for liquidation"
The American nation today is pos
sesecd of $50 ocean going steel
ships of about 100000 tons dead
weight, the speaker said, adding that
he had considered only steel bottoms
since eradication of all concrete
and wooden hulls had been deter
mined upon. He estimated the cost
of the available fleet at $500, 600 900
which, he said, could be entirely
written off, as one of the major fac
tors in the victory over Germany,
without owing one penny to the
American people"
1T was because of this fleet" Mr..
Lasker asserted that we were able
to move the enormous volume of
American manufacture and raw ma
terials at time when there was a
shortage of world tonnage 1t was
because of these ships that our fac
tories, farms and mines were able to
operate at top speed when the boys
returning from the front were seek
ing employment
The speaker predicted that the
shipping fleet would no longer be a
burden TO the American taxpayer"
Losses had been checked, he said,
and not more than $4,000, 900 a
month would be required from now
until the end of the fiscal wear.
THE liquidation of the three and
one-half billion dollars of the csr
porations assets will, at any time.
realize but fraction of the original
cost, because the fleet was built with
understandable waste and high ex-
pense during war pressure" Mr..
Lasker conceded. The money loss in
liquidation need not be considered
since it has already been written off
IN the cost of the war and, as here
outlined, served a function in full
value.
What remains, though. are the
ships-potentially one of the great
est assets America has to insure its
economic future, which means to
insure the pursuit of happiness by
its people
The shipping of all nations, he
said. has suffered as a result of the
decrease in trade and the increase of
construction since May 1920 which
has had the result of placing IAN
excess of 2000O,OO0 tons of shipping"
in the ocean carrying market. Half
the tonnage now laid up is under
foreign flags. he added
Mr.. Lasker said the Jones Shin
Bill had been framed with the evil
dent purpose of removing disabili-
ties suffered by American vessels as
result of the higher cost of con-
struction and higher STANDARDS of
maintenance in this country.
Declaring that there are many
who do not wish the status quo
changed" the speaker demanded
that these hostile forces from with