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474 Payne mies Hurley Ship : Plans (Concluded from page 465) On Sept. 1, the various operating agents of shipping board vessels are understood on good authority to have had in their possession $1,500,000,- 000 in freight .money earned with government ships which they had been unable to turn over to the ship- ping board. The agents had de- posited this money in banks where it earns 2% per cent interest for the government against the time when the accounts of the shipping board would consent to converting it into the government funds. According to the original ruling of the acountants, no moneys from any account could be turned over to the shipping board until the account was concluded and closed. Two of the larger of the private shipping companies operating government vessels on allocation are THE MARINE REVIEW said to hold in their possession $150,- 600,000 each of such government money that they were not permitted to turn in. As early as last January, one of the smaller of the operators collected more than $500,000 in freight for the government on one charter. A check for this money was tendered the shipping board, but the account- ants returned the check and refused to accept the government's money stating that they could not accept any funds until all the vouchers had been received and until the account had been closed. On Sept. 1, the shipping board had 8000 such agency accounts outstanding. Under the old system of accounting inherited by Chairman Payne, none of these earnings from operations was - made to show on the books of the shipping board. This is a situation which Mr. Payne is reputed to have considered carefully and he is said to be desirous of altering it. Ask Lower Rates on Steel UILDERS of fabricated steel B ships will be saved fully $50,- 000,000 annually if the Phila- delphia freight traffic committee of the United States railroad administration decides favorably upon the revision of rules covering the fabrication-in-transit One iron 'and. steel articles. = This privilege, now applying to steel for buildings, bridges and tunnels, has een at the rate ot 1:5 cents per 100 pounds but under the amended tariffs it would be at 2.5 cents and would not only include ship steel, and that for buildings, bridges and tunnels, but would apply to all iron and steel stopped in transit for certain manu- facturing processes. Hearing on the revision of the rules was begun in Philadelphia, Sept. 9, and it may be some time before any action is taken. The hearing at Philadelphia on the proposed revision of rules governing the fabrication privilege went into the subject by which carload ship- ments of iron and steel may be for- ward to fabricating points provided in current tariffs for bending, bolting, boring, countersinking, cutting, drill- ing, painting, planing, punching, ream- ing, riveting, sawing, shearing and welding. Rolling crimping, burning, forging and chipping are not included. These processes may apply to the following articles: Angles, bars, beams, bolts, castings, channels, columns, ells, girders, masts, plates, nuts, rivets, rods, tees and zees when shipped in the rough. Steel shipped from the Pittsburgh district to the Philadelphia district for bridges tunnels and_ buildings takes a rate of 24.5 cents with an additional charge of 1.5 cents for the fabrication privilege. Similar steel from Pittsburgh to Philadelphia, or the Delaware river shipbuilding dis- trict, when intended for ship construc- tion, takes a rate of 40.5 cents. Ex- tension of the fabrication privilege would mean a difference of 14.5 cents per 100 pounds, or from 60 cents to $4:20 per ton, depending upon the location of the steel mills and the fabricating plants, as regards Dela- ware river shipyards. North Pacific coast shipbuilders are finding that the question of freight rates on steel is assuming greater importance. They state that if Pacific coast shipbuilders must pay $1.25 to $1%37%4 a hundred- weight in freight for steel, which adds $80,000 to the cost of each 8800-ton ship, it will be almost impossible for them to compete with Atlantic coast yards which are in a position to get cheaper rates. Coast shipbuilders want rates equalized. They point out that the overland rate on steel con- signed to Oriental common points is but $1.20. A syndicate committee of Pacific coast shipbuilders conferred re- cently in Washington with heads of the United States railroad administra- tion on freight rate differentials on steel with the object of obtaining re- duced rates. The chambers of 'com- merce of the Pacific coast cities are _ Solidly behind the shipbuilders in their contention for the lower freight rates. October, 1919 Merchant Marine Pro- gram The executive committee of the Na- tional Merchant Marine association has asked the 55 members of the associa- tion council to approve four points for the upbuilding of an American merchant marine, according to William Allen, sec- retary of the association. Mr. Allen announces that the 'recommendations which the council would be asked to approve are as follows: 1--Calling of a conference of repre- sentatives of all organizations directly interested in shipping, shipbuilding, manufacturing and exporting to agree upon fundamental principles of shipping legislation. 2--Creation of a department of the marine to take over all the duties of the shipping, board, except rate regulation, and to which the various marine bu-. reaus of existing government depart-. ments shall be transferred. 3--Support of the American bureau of shipping. 4--Establishment of American vessels. load lines for Offers Maritime Courses The Wall street division of New York university has announced a pro- gram of 31 courses devoted to finan- cial, commercial and general business aftairs,. In. addition to the courses dealing with banking and financial subjects, a number of other courses have been established which deal with foreign trade, ocean transportation, iwarine insurance, Far East and South America trade problems, commercial Spanish and conversational Chinese. WWoll exhibit Cranes" A standardized electric crane as ap- plied to foundry practice will be ex- hibited by the Chesapeake Iron Works, Baltimore, at the convention of the American Foundrymen's association to be held in Philadelphia Sept. 29: to Oct. 4. In: less than one and a half years, during the war, the company built over 140 large electric traveling cranes which were shipped to France and various points of the United States. The company points out that with its cranes a pattern can be lifted out of a flask and manipulated easily. The American motorship SANTA CrIsTINA, with Capt. R. C. Lechner in charge, sank off the Cuban coast re- cent!v, following an explosion in her engine room. Apparently she is a total loss, with the 2000 tons of lumber and leather she was bringing from Baranquilla for New Orleans. The 29 men of the crew and 'ive passengers were saved by a Cuban schooner.