Britons learned last week how far gone was sick British shipping when famed old Cunard Steamship Co., Ltd. reported a $3,000,000 net loss for 1932, a $2,000,000 drop in North Atlantic traffic. Four days prior. Chancellor of the Exchequer Neville Chamberlain had prescribed a cure in the House of Commons: an "arrangement" between Cunard & White Star. He set it as a condition to government subsidies to help Cunard finish its giant ship No. 534, now an idle skeleton in a Scotch shipyard. Everybody knew White Star was suffering as badly as Cunard from...
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