Evening star., 1924-01-13
WAR STOCK SALES AID
GOVERNMENT FINANCING
Vast Supplies Disposed Of, With Hun
dred Million Dollars Worth
Remaining.

the government-was s2,94f.131,761.
For this material the government
received a total Of $1,063.7s: ca,
making the percentage of recovery
36.2 per cent.
The Navy Department has sold sur
plus material valued at S222,3s3,621.
The Navy Department has had a diff
ferent system OF valuing this prop
erty. by an appraisal board according
to market prices. For this property
the government actually received
$131,558.737, making the percentage
of recovery 59.2 per cent. This
larger percentage of recovery, II is
explained. is due to the different
method of valuing the property sold
The Shipping Board has disposed OF
material valued at sf67,S93,672, for
which 1t received sss,3s0,s27, or q re-
covery percentage Of 51.5 per cent.
The Panama canal has sold surplus
material valued at s1.97S,s7s, for
which 1t received s760,564.
Heaviest Sales of Materials.
The heaviest sales of surplus war
materials were made during the
period from the signing of the armi-
stice up to June 90. 1921. In that
time. the total amount of property
sold was valued at $1,S04,535, 5,O25. and
the amount received for 1t was 81
0SS,653,S96. In the fiscal year ending
June 80. 1922. the surplus material
sold was valued at $6S5,456,s36 and
1t brought &76.34s,576; in the fiscal
year ending June 80. 1923, the ma
terial sold was valued at s569,742,613
and brought ss5,509,174, and from
July 1. 1923, to November 1, 1923, the
material sold was valued at s1o9.25a,-
365 and it brought s1s,681,263 In
addition, there was sold property of
the Shipping Board valued at $S4.-
100000 for which s32.300.oo was re-
ceived, which has not been allocated
to any particular year. it is said
Still Much to Dispose OF.
1t is Of much interest to the tax
payer also to note that the govern
ment still has considerable surplus
war material to sell, totaling in value
$125. .73S.100. These values are esti-
mates, as OF November /, 1928. This
material is divided as follows: War
Department, sS1,o72.681; Navy De-
partment, $33,5o5.750; Shipping Board.
$10,8ss,088. and Panama canal, $780,
bS1. Right here It may be said thai
the Shipping Board does not consider
its vessels surplus war material"
Its vessels the board holds to be as
sets to be used or disposed Of to
Americans desiring to enter the ship
n ~ y~tc R0S.
government and in consideration of
the continuance OF the vessels under
the American flag. How much the
government will realize from the sale
Of the surplus war material which ii
still holds remains to be seen.
In addition to selling this huge
quantity OF surplus war material the
War and Navy departments have held
on to such material as could advan-
tageously be used by those services
figuring on an army and navy ap-
proximately the size now provided
for by law.
Further, these various departments
Of the government have transferred
part OF their surplus war material to
other departments and to the govern
ments Of the states, under acts OF
Congress. The War Department has
turned over vast quantities of sur
plus materials to the Department Of
Agriculture to be used In the con-
struction OF good roads. and this in
turn has been passed along to the
states for work on their roads. The
value Of surplus property thus trans
ferred to other departments and the
states totaled $a57.614,s03, divided as
follows: War Department, $344,17o,-
2e2: Navy Department. s7,773,651;
Shipping Board, s5,643,766, and the