The Shipping Board (created in 1916), intended to serve only as a regulative and semi-judicial body, was supplemented in wartime by the Emergency Fleet Corporation, which theoretically performs necessary actual business administration. For many years the Chairman of the Shipping Board was President of the Emergency Fleet Corporation.
The separation of the two organizations with different men at the helm of each, in January, 1924, was widely hailed as conducive to increased efficiency because of the detailed functions assigned to the Emergency Fleet Corporation. As a matter of fact, the Shipping Board retains...
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