SHIPPING: Tanker Truce

To protect the U.S. maritime industry from cheap foreign shipping after World War II, the Government banned the sale of its low-priced surplus ships to foreign investors. But despite all precautions, United Tanker Corp., a Chinese firm with a phony U.S. front, worked out a deal to buy six surplus tankers from a group of promoters headed by Joseph E. Casey,*onetime Democratic Congressman from Massachusetts (TIME, March 3, 1952 et seq.). As a test case the U.S. Justice Department went to court over the sale of one tanker (the Meacham), won the case, seized five ships and sold the...

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