AMERICAN SHIPPING
FOSTERING LEGISLATION COOLIDGE SIGNS JONESWHITE BILL Australian Press Association—United Service. (Received 24th May, 1.30 p.m.) WASHINGTON, 23rd May. President Coolidge has signed the Jones-White Bill, which is designed to maintain a strong- American merchant marine by aiding private ship operators. The Bill increases to 250 million j dollars the present 125 million dollars construction loan fund to private shipbuilders, and provides that money from the fund may be lent up to 75 per cent, of the value of the ships to* be built. It. also increases the present rates for contract mail carrying and provides that the United States Shipping Board vessels may be sold to private interests only by the vote of five out of the seven members.
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Bibliographic details
Evening Post, Volume CV, Issue 121, 24 May 1928, Page 11
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121AMERICAN SHIPPING Evening Post, Volume CV, Issue 121, 24 May 1928, Page 11
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