TRANSPORTATION: Subsidies Scrutinized

When after the War the Federal Government set out to put a U. S. merchant fleet back on the seven seas by means of mail subsidies and cheap construction loans, no one thought the job could be done for nothing. How very much the 14-year effort cost the Treasury —and how and why—a special Senate investigating committee headed by Alabama's lean, earnest Hugo Black began last week to discover.

First company to be hauled up on the Senate's dissecting table was Export Steamship, a flashy young hustler born in 1919. Most travelers...

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