U.S. MERCHANT MARINE
LARGE-SCALE ADVANCES.
FUND AUGMENTED,
(Received 10.45 a.m.)
WASHINGTON, May 23,
President Coolidge has signed the Jones-White Bill, designed to maintain a strong American merchant marine by aiding private ship operators. The Bill increases by 10,250,000 dollars the present 125,000,000 dollars' construction loan to private shipbuilders, and provides that money from the fund may be lent to 75 per cent of the value of ships to be built. It also increases the present rates for contract mail carrying, and provides that United States Shipping Board vessels may be sold to private interests only by a vote of five out of seven members.
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Bibliographic details
Northern Advocate, 24 May 1928, Page 5
Word Count
104U.S. MERCHANT MARINE Northern Advocate, 24 May 1928, Page 5
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