STRONG MERCHANT MARINE
U.S. GOVERNMENT TO AID SHIP-OPERATORS COOLIDGE SIGNS BILL (United P.A.—By Telegraph — Copyright) (Australian Press Association) Ree. 9.5 a.m. WASHINGTON, Wed. President Coolidge has signed the Jones-White Bill, which is designed to maintain a strong American merchant marine, by aiding private shipoperators. The Bill increases to £50,000,000 the present £25,000,000 construction loan fund 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 a contract of mail-carrying and provides that the United States Shipping Board vessels may be sold to private interests only by vote of five of seven members of the board.
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Bibliographic details
Sun (Auckland), Volume II, Issue 362, 24 May 1928, Page 9
Word Count
117STRONG MERCHANT MARINE Sun (Auckland), Volume II, Issue 362, 24 May 1928, Page 9
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