SHIPPING: Many Years After

Just seven years ago, Bainbridge Colby, personal friend of President Wilson, invited two steel men to lunch at Washington. Mr. Colby, later Secretary of State, was then a member of the U. S. Shipping Board. At lunch he begged one guest, Charles M. Schwab, to become Director General of the U. S. Shipping Board Emergency Fleet Corporation. The other guest, Eugene G. Grace, admonished Mr. Schwab, his business associate, to refuse.

At 2 p.m. they were to see the President. As they drove to the White House, Mr. Schwab...

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