AIR LINE SUBSIDIES
UNITED STATES SERVICES COMMISSION TO INQUIRE (Received July 27. 5.5 p.m.) WASHINGTON. July 20 President Roosevelt has ordered the Maritime Commission to study and report on a subsidy scheme for American air lines operating to foreign countries. The scheme would bo on similar lines to those operating in respect of shipping, a new plan for which came into operation on July 1 for a six months' experimental period.
By tho terms of tho now subsidies agreements for shipping, tho United Siates Government will pay to tho owners the difference between operating costs of foreign lines on the one hand and American vessels on the other. Old contracts under which the Government undertook to pay 73,000,000 dollars have been compromised for payments of less than .750,000 dollars. The subsidies must bo repaid to the Government out of all the companies' profits exceeding 10 per cent of the invested capital.
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New Zealand Herald, Volume LXXIV, Issue 22792, 28 July 1937, Page 13
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151AIR LINE SUBSIDIES New Zealand Herald, Volume LXXIV, Issue 22792, 28 July 1937, Page 13
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