Business: Merchant Marine

To a batch of ship reporters who clambered on to the Majestic as she docked in Manhattan last week, President P. A. S. Franklin of the International Mercantile Marine seemed like a Buddha incarnate, for they insistently wanted to know whether he had consummated his sale of the White Star Line (TIME, May 17 et ante) and if so whether he intended to buy U. S. Shipping Board vessels with the money.

Mr. Franklin smiled much, spoke little. The sale was off for the present on account of the British strike (see p. 11); if the sale were finally consummated the I....

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!