The New York herald., 1922-09-07
Ships Will Be 1000 Feet
Long and Largest in
the World.
CARRY 5000 PASSENGERS
Majestic to Be Outstripped by
14,O00 Tons-Prominent
Financiers Interested.
Special Dispatch to THE NEW yoRK HERALD.
Now York Herald Bureau.

SpcctuL UfspdtcH to IHE NEW 1ohk 'ihhaLb'
Now York Herald Bureau.
Washington, ID. c., Sept. o.
Chairman A. d. Lasker Of the United
States Shipping Board declared to-day
that there is a movement to form an
American steamship company with a
capitalization of $50, 1000, 900. which will
build two electrically driven liners
each with a 10000 gross tonnage.
In making the statement Chairman
Lasker explained that he was not at
liberty to disclose the names of those
in the enterprise, but he added that
they were among .he hest known
financiers and shipping men in the
United States. Their names. he said,
"are household words"
The project has reached the stage
where the plans FOR the ships, which
are designed to exceed anything afioat,
are Under preparation, Chairman
Lasker declared. If constructed these
electrically driven vessels would ex-
ceed in size the Majestic of the White
Star Line. the largest ship af1oat. by
$4,000 tons.
Experts working on Details.
The vessels are designed TO be l,oVo
feet long and TO be operated entirely py
electrical machinery. Chairman Lasker
stated that already there has been ap-
propriated s250,0o0 for preparing plans
and blue prints and that marine engi-
neers and naval engineering experts and
architects are at work on details.
The project was started three months
ago when the Shipping Board was first
approached in regard to the plans for
the new company. At that time Chair
man Lasker was asked IL there would
be funds available for the company
from the ship construction loan fund
as authorized by the Merchant Marine
act of 1920.
Chairman Lasker informed the spokes-
man for the company that the board
had been authorized by Congress to set
aside s25.000.000 annually for this pur-
pose and extended hope that IL the ships
were of an approved type the project
would receive the support of the board.
One financicr already has offered to
the company. As late as last week Chair
man Lasker was informed that consid-
cradle progress has been made in get
ting leading financiers to associate them
selves with the promoters of the COM
pany.
There Is an additional interest in the
proposed company from the point OF
view of the Shipping Board because Of
the situation in regard to the steamships
urder the flag OF the United States Line
on the Atlantic. The Leviathan. the ex-
German ships and the American built
President liners constructed after the
war are TO be offered for sale as soon as
there is a decision on the ship subsidy
question.
Depending on subsidy BnI.
Mr.. Lasker said the project would be
carried our IL the men behind Il had
assurance that the ship subsidy lcgisla-
tion would go through. In making the
announcement the chairman added that
he wanted to emphasize the fact that
the project must still be considered in
the embryonic stage. Headeclared how
ever he could vouch for the character
and business capacity OF the pioneers.
Vessels OF 10000 tons would represent
the most daring advance the shipping
world ever has seen. While the practi-
cal shipping men on the North Atlantic
have predicted that the day OF the 56.-
900 ton liners has passed and that there
would never be constructed another YES
sci OF the proportions OF the Majestic or
Leviathan. the projected liners are 10 be
1000 feet long. with accommodation for
more than 5000 passengers. The Ma
jestic is 915 feet long and the Leviathan
907
The most daring feature OF the ships
will be the electric motors the power
OF which probably will be supplied BY
sets OF Diesel engines or turbines The
Diesel electric drive has been utilized on
oceangong ships. but on none whose
register Is In excess OF 10000 tons. The
cost Of each OF the two liners doubtless
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