After several months of negotiation, the Shipping Board finally shook hands and said: "It's a bargain." Two hundred of its nearly useless vessels tied up here and there along the Eastern waterfront of the U. S. were sold. Those who shook hands (figuratively) and closed the bargain with the Shipping Board were:
1) The Bull Insular Steamship Co., which bought one ship, the Lake Winthrop, for $33,000.
2) W. B. Mayo, who bought 199 ships for $8,530 apiece (total: about $1,700,000) on behalf of Henry FordMr. Mayo being Henry Ford's chief engineer...
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