James A. Farrell, president of the United States Steel Corporation, speaking in New Orleans, advocated sale to foreign lines of U. S. Shipping Board vessels which could not be sold to Americans.
He said that two-thirds of the Government fleet could be put into commission at a maximum cost of $5 a ton, deadweight, and at least half of it ultimately sold to foreign buyers at $10 a ton less than they can now build similar vessels.
Loss in operation, said Mr. Farrell, is due not to surplus ships, but to lack of cooperation between foreign and...
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