The New York herald., 1921-09-18
s150,OOO,OOO ASKED
FOR SHIPPING BOARD
Lasker Sets That Figure
for Expenses Until
June, 1928.
S5.OOO,O0O A MONTH
Losses From Operation Due
to Low Ebb of World
Shipping Business.
OLD DEBTS NOT INCLUDED
Can Meet Obligations When
Time Comes to See Ships
and Yards.
Special Despatch to THE New York HERALD.
New York Herald Bureau,

Special Despatch to THE New York HERALD.
New York Herald Bureau
Washington, ID. c., Sept. II.
One hundred and fifty million dollars
Is the sum total that Congress will
be asked to appropriate for the Ship
ping Board and the Emergency Fleet
Corporation during this fiscal year and
the next, according to a statement
made to-day by Chairman Lasker.
I'VE asked Congress for 100000, 900
for the current fiscal year." said Mr..
Lasker. "Of this sum S25,000,000 is to
complete the building Of ships already
arranged for. The remaining S75,-
100000 will be used for the actual
operation Of Shipping Board vessels
and all the other expenses of the board
and Fleet Corporation.
I'VE have received from Congress
$S,500,000 OF this years appropriation,
and will probably get the remainder in
January. when we will go before Con-
gress to show what we have accom-
p}shed.
--Our estimate for the fiscal year end
Dss Juuo NVs 1870, Ms stt Icauy. We VIII
ask for $4,000 900. No matter what hap
pens we will not go beyond those
figures.
After a careful study of the situa-
tion we are confident we can operate
the Shipping Board fleet from now on
at a cost of s5OoO,000 a month.
"Our losses from operations for July.
based on voyages terminated, amounted
to $5,700,0oO. We actually paid out
se,30O000 for July. but all of that over
the s5,700.000 represented past debt.
The average loss on operations a
month prior to July was between $780,
100000 and $12.0000O0.
I'm connection with these losses from
operations it must be remembered that
for the past three or four months world
shipping has been at an extremely low
ebb. All ship operators except those
who operate passenger liners have been
losing money, so we are not dismayed
because the Shipping Board vessels
have been losing money.
I'VE feel. however. that the time Is
not far distant when there will be a
cessation OF the need OF great drains
from the country to support the Shipping
Board. Our $150.000,000 for the next
two years should tide US over until such
time as the world trade Is better and the
Jones act is put into effect, provided. OF
course, that private owners can operate
profitably under the indirect benefits that
would accrue to them under this act
IF we can ever get to the point where
we can sell ships and shipyards, we can
pay oil our debts
Mr.. Lasker said the present board has
nothing to do with ship construction
other than to carry out the programme
already laid down. 1t is probable that
the S25,0o0.000 received from Congress
for this purpose will not be enough. but
II more is asked for 1t will not be con-
sidered In the estimates on costs Of op-
erations. In case 1t Is decided to recon-
dltion the Levlat than a special approprta-
ton of from sS.000.000 to s10.000,000
will be necessary for that purpose.
The chairman also made 1t plain that
bis estimate Of the cost OF operations for
the next two years does not include all
the old debts OF the board, some of
which are due to construction and ad-
miralty claims. The debts due on op-
erations will be taken care of out Of re-
ceivable assets the board has. These old
debts. exclusive Of claims for construc-
tion. amount to between s15.000,0 900 and
$20,000.000. They will be paid off grad
ually. as the board converts its various
assets.