Monday, Mar. 09, 1931
U. S. Lines Forward
In Camden, N. J. last fortnight 1,500 men were suddenly out of work. They had been employed by American Brown Boveri Electric Corp. on two big ships for U. S. Lines. A few days later they were called back to work. Reason for their being called off: the U. S. Shipping Board refused to advance a $15,750,000 loan on the ships until U. S. Lines put up its own stake of $5,250,000; U. S. Lines was able to furnish only some $3,000,000. Reason for resumption of work: the U. S. Shipping Board went ahead with its payment after U. S. Lines agreed to elect certain new directors. These were: Edward Nash Hurley, onetime (1917-19) Shipping Board chairman; Ira Alexander Campbell, general counsel to American Steamship Owners Association; Robert L. Hague, vice president of Standard Shipping Co.; Franklin D. Mooney, president of Atlantic Gulf and West Indies Steamship Lines.
Last week Mr. Mooney returned from Cuba. Said he: "While some of us may be busy with our own companies ... we must not fail in our efforts on the North Atlantic, the most highly competitive trade lane in the world."
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