Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-02-22
REF|TT|NC LINERS
HELD IMPORTANT
Monticello and Mt.Vernon Are
Assured Of Earning ST..
$4,000 Annually.
BY ]. G. ROYLE.

| Special DISPATCH 10 Tho star.
NEW YORK. February 22.--Active
| Woik on The recondltioning Of the liners
| Monticello and Mount Vernon Is eX-
| peCted 10 commence within ca days
| after President Coolidge signs the bill
| authorizing this move for preserving a
| nucleus of American merchant marine,
which has passed both Houses of Con-
gross. The bill now is in the conference
committee.
! The rcconditioning of the Monticello
and the Mount Vernon will cost S12,-
600 900. and will provide large volume
Of employment III the shipbullding in
duStry. IT is expected that the navy
yards will put in bids for this work in
competition with three of the largest
siiipbuil6ing and dry dock organizations.
This Sl200o000 represents larger sum
TO be spent in actual ship construction
and equipment than the entire total
of ships now being built or projected
i'll the United States for transoceanic
trade.
Opposed I'm Foreign Quarters.
Foreign shipping interests have been
vigorously opposed TO the reconditlon-
! ing Of these vessels. On the other
| hand. advocates Of the plan declare
! that this Will place the Shipping Board
! feet upon normal basis of operating
efficiency and upkeep. They add that
if the present fleet is allowed TO die
| out. once more the manufacturers and
merchants OF this country will be at
| the mercy of foreign manufacturers
and adverse foreign freight pooling
agreements.
When reeonditioned the two vessels
viii be the equals Of the finest steam
ships IN the North Atlantic trade, with
baths III every Stateroom. They will
have a speed OF 20 knots an hour. They
will enable the Leviathan to operate on
the accepted ti7ree-ship unit basis, with
an express sailing every week instead Of
the present three-week period. The
fares will be those at present charged
for the lS-knot ships of foreign owners.
such as the Mauritania, the Majestic
and Berengaria and others.
Hulls in Good Shape.
The hulls Of the Monticello and the
Mount Vernon have been surveyed by
the American Bureau of Shipping. the
president of which. c. "A. McAllister, de-
clared today that the hulls were in
sound and excellent condition and good
for many years of service. The Amer
lean Bureau Of Shipping corresponds to
the British L!oyds.
The two vessels will begin immedi-
ateiy 70 earn Sl.275, 600 a year, which
now is being paid to foreign vessels for
carrying the mail. This alone repre-
senis an extremely high rate of interest
on the cost of recondltioning. In addi-
ton, they will carry a surplus of oil
fuel to England, which will be used by
the Leviathan for its return voyages.
The Oil which the Leviathan now has
TO buy costs s275,000 year more than
It would IN this country. In other words,
the Two vessels are assured OF immediate
earnings of $3.50 900 year.
The Shipping Board now is actively
operating feet Of over 300 vessels,
but the foreign trade Of the United
States IS carried TO large extent in
foreign bottoms. Unless untavorabie
situations arise the exports shipped by
the United States will amount to more
than $4,000 ,o00000 and the price re-
ceived from those exports will depend
TO no small degree on the freight rates
PAID TO the ocean carriers.
All L. S. Trade Affected.
Stephen /. Miller. executive manager
OF the National Association of Credit
Men. declared that every business man
III the United States was affected to a
marked degree By the development of
foreign trade.
Let no business man assume" he
said. that he is not interested in for
elgn trade Just because his house does
business only at home. Indirectly he
may be as interested In the foreign
market as 1t is the exporter himself. II
Is sometimes said that the demand for
~ per cent OF our productivity is the
margin between prosperity and depres-
value and importance of our foreign
trace. In this season the foreign,
market Is absolutely necessary TO Amer.
lean industrial stability"