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Otago Daily Times, Issue 17372, 20 July 1918, Page 7

There has been reported favourably in the House of Representatives (eays the Guaranty Trust Company, of New York) a Bill giving the United States Shipping Board unusual powers to prevent foreign interests from obtaining in any way financial holdings in American shipyards or in vessels being constructed there, except with the unqualified permission of the board. It is explained that the legislation is designed to prevent German capital from obtaining a foothold to push contracts for the construction of shipping in American yards as soon as the American war programme is completed. Hundreds of requests coming through brokers and others for the right to place contracts have aroused the suspicion that agents of the Central Powers were at work. The authorities aim not at any neutral or allied nation,' and applications by these countries for permission to let contracts for ships to be constructed later will rcoeive every consideration. In connection - with this and other legislation it is stated that a careful watch on all efforts on the part of Germany, to act in the guise of a neutral agency is being maintained, and: that a thorough organisation is being built up by which it is predicted Germany's hold on any of tho shipping interests, aa well as on other industries, will bo broken.