For the past 18 months transatlantic-steamship companies have been ploughing through heavy financial seas with little ballast aboard. Bookings have fallen off sharply despite all manner of inducements to tourists. Last summer first-class rates were cut 10% to 30%. Last month Cunard Steamship Co. resorted to instalment-plan ticket sales. Ostensibly to consider further rate reductions, the North Atlantic Passenger Conference met last week in Brussels. Before it had time to consider anything, U. S. Lines (which is not a member of the Conference) tossed a bomb into its midst.
Announced in Manhattan was...
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