AMERICAN SHIPPING
WAR TIME CONSTRUCTION. WRITTEN DOWN BY TWO-THIRDS. (By Telegraph—Press Assn.—Copyright.) (Australian and N.Z. Cable Association.) WASHINGTON, June 10. (Received June 12, 5.5 p.m.) The Administration will accept as an unavoidable loss two billion dollars of three billions spent on shipbuilding during the war period. The fleet is valued at one billion. It is futile to place the value higher, and the ships will be operated on this basis by the new Shipping Board which will aim to get the Government out of the business as soon as possible. Plans are being made for the sale of the shipping at its actual valuation.
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Southland Times, Issue 19249, 13 June 1921, Page 5
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104AMERICAN SHIPPING Southland Times, Issue 19249, 13 June 1921, Page 5
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