In 1931 when a group headed by International Mercantile Marine bought the U. S. Lines from the Shipping Board, it contracted to send the giant S. S. Leviathan on seven transatlantic trips a year for five years. During the first year under this contract the Leviathan lost more than $500,000. Thereupon the U. S. Lines put her in dock at Hoboken, N. J., for a year, tried to persuade the Government to cancel its contract. The Government stood by its bargain, but the company had this loophole: U. S. Lines might omit two of...
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