SHIPPING: Almost Sold

Recently, the Shipping Board invited bids for the purchase of 200 of its tied-up steel ships for scrapping. While the offer was out, at President Coolidge's urging, the Board agreed that henceforward the disposal of Government ships should be in the hands of the Emergency Fleet Corporation. The reason was that the Corporation, headed by one man (Admiral Leigh C. Palmer), was in a better situation to conduct negotiations decisively and effectively than the Board, with several members. The Board merely reserved the right to pass on the offers for ships which...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

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