The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1928-12-05
UNITED STATES
4, SHIPPING WILL
, INCREASE SOON
Optimism Pervades' Annual
Report on Merchant Marine
Conditions

shaft of optimism today was shot
through the Shipping Boards pic
ture Of the operations of the Amer.
lean merchant marine during the
year.
With the nations shipping in a
comparatively low state, the board
manifested assurance in its annual
report over the prospects for sue
cessful privately owned lines
through the provisions of the
Jones-White merchant marine act
passed last spring.
The board predicted that consider
able new construction of merchant
vessels would be gotten under way
during the coming year as q result
of the passage Of the act increasing
the construction loan fund, provid-
ing liberal terms for loans and
means by which ship operators have
obtained valuable mail carrying con-
tracts.
The new measure gives every rea-
sonable indication Of accomplishing
the three main purposes for which
it was enacted, namely. to assist in
the development of the American
merchant marine generally, to aid in
increasing the foreign commerce of
the United States, and to facilitate
the transfer of the governments
war-built fleet and established
services to private ownership" the
report said.
United States Lays
Declaring that the American ship
ping industry cannot stand still the
report said that for every ocean 90
ing ship laid in this country. so are
laid in England, 10 in Germany, five
in France and Italy each and four
in Japan.
Total loss on operations and YES
sells laid up during the fiscal year
ending June 30, amounted to ST.
391. 900, including the loss of the
United States Lines Of $465,OOO
compared with the net profits of
$4,000 during 1927.
Exclusive of the loss of the United
States Lines, the net loss for cargo
and combined passenger and cargo
services for voyages and inactive
vessels amounted to $16,926 900,
which is reduction of $1,364,OOO
from the 1927 figure.
Cargo Tonnage Grows
The report attributed the losses
partly to increased cost in prepar-
ing the vessels for service, compared
with similar costs in previous years.
and to the fact that there was not
as great demand for American
bottoms in the cotton and grain ex-
port trade. It pointed out, however,
that the years business showed an
Improvement in cargo tonnage and
revenues in 1928, compared with
1926, there being 1,783,O0O more
tons carried the past year with in
creased revenue Of 1855, 900, COM
pared with tonnage and revenues of
1926.
During the past year the Shipping
Board sold 81 vessels, of which AZ
were in established lines on the Pa
cific and Atlantic coast operating
in foreign trade. The aggregate
sale price of the vessels amounted
to S6,059,200, and the aggregate
lightweight tonnage was $4,000.
On June 30, however, the board still
had 1853 vessels, of which 253 were
in active operation and sos laid up.
!; Gross Revenue Drops
i Gross revenue Of the United
States Lines for the fiscal wear
1928 amounted to $16,266, 900 COM
pared with $16,675,OOO in 1927.
The board urged the passage Of a
bill adopting the boards codification
OF navigation laws, Legislation
looking to the adoption of The
Hague rules governing ships in for
eign trade, and the passage of q
measure before the Forthcoming In
ternational Conference on Safety of
Life at Sea in London in 1929, re-
stricting the loading of ships to the
load lines on vessels were recon-
mended.
Provisions should be made" the
recommendations continued, "for
tax exemption on American vessels
operating in foreign trade, includ-
ing provision whereby deductions
shall be allowed from taxable in
comes derived from operating prof
its to the extent that such profits |
are devoted to new ship construc.
ton in American yards.
Legislation should be enacted
looking to the transfer to privately |
owned American shipping interests |
of the peace time business now han
died by Army and Navy transports |
and by vessels owned and chartered
by the Panama Railroad Steamship |
Line"