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394 lation to the actual amount of settle- ment. These unlisted items were sepa- rately estimated as including $146,796,- 548.34 for estimated construction pro- gram claims payable; $11,309,962.77 for awards payable to former owners, re- quisitioned hulls; and $21,665,719.91 for estimated insurance, accident and dam- age losses payable, a total of $179,- 772,231,02. These estimated claims added to the admitted liabilities indicate a total of $270,9365,964.69 owed by the board on Feb. 28 of this year. The senate resolution also disclosed that the board was employing 8932 persons, exclusive of the 43,000 on board ships operated for the board. These 8932 employes included 8544 ashore and 388 afloat. : MARINE REVIEW Holds American Legion Is Worth Price Paid New passenger liners like the AMERI- cAN LEGION consumed many extra mil- lions of dollars through continual changes in plans. As a result their com- pleted cost when ready for their first revenue earning trip was easily twice as much as their present day value. The same situation is similarly true in other shipbuilding countries where buyers found their new ships, contracted for a year or more ago, have only one-half or less of their value left when the shipyard makes delivery. Frank C. Munson, president of the Munson Steamship lines which operates American passenger liners to South America, finds encouragement over the September, 192] opportunities now offered to Americans to build up trade with South America. "With vessels of the type of the AMERICAN LEGION," he says, "I feel sat- isfied that the American lines, in spite of the higher wages paid to seamen, can compete successfully with the ships of other nations. I believe that the American inventive genius will overcome our handicaps. "The advance that this ship represents over other steamers may be indicated by a comparison with the ex-German liner Aro.tus, formerly the GrossER KurrFurst, Although the AxoLus is of corresponding size and tonnage, the AMERICAN LEGION costs 30 per cent less to operate, has double the amount of cargo space, carries just as many passengers and will make a speed of two knots more." Business Leaders Will Aid New Board O OPERATE the fleet, the ship- ping board acting on the recom- mendations of private shipowners, appointed J. Barstow Smull, William J. Love, both of New York, and A. J. Frey, Los Angeles and San Franciso. The orig- inal 1ecommendation was to name only one operating head but since the larg- est privately owned fleet numbers only 107 vessels it was regarded as essen- tial to have more than one operating chief for the board's 1440 ships--not counting the wooden vessels. Mr. Smull, the board points out, is a half owner in one of the largest, if not the largest, ship brokerage firms in America. His fim thas an in- come of about $500,000 a year, and his share is $250,000. He was the unan- imous choice of the shipowners and ship operators associations, every own- er and operator describing him as the only man they could agree on. Mr. Lasker stated that "I remained for 12 days in New York with Mr. Smull, getting his refusal day after day, and day after. day telling him 'they have convinced me that you are the man who, if associated with us, will make the promise of success pretty sure, and without you I don't think we can suc- ecedy." Mr. Smull was chairman of the char- te.ing committee of American ships during the war. His work at that time has made his abilities known throughout the world. The ship operators unanimously rec- ommended Mr. Love, a choice which was also app oved by the shipowners. He was the New York manager of the largest British firm doing business in this country. He is an American citi- zen, born in this count'y, and ranked -has as an expert in marine traffic matters. Nine Hrey «represents the Pacific coast, where he has held official posi- tions with the Pacific Mail Steamship Co, "and with the Emergency Fleet co' poration. -These three men are responsible for suggesting to the board the broad poli- cies to follow in operating, chartering and disposing of the ships. After - ap- proval of a policy, President Harding and the board has given assurance that these three vice presidents will have a iree, hand..im carrying: through the policy. President Harding impressed upon them the necessity of operating these 'boats on the basis now represent all the stockholders or in other words, all the people of the country and that for the people's pro- tection, they should make decisions solely on. the grounds of efficiency. Politics is to be kept from hampering their actions. Elmer Schlesinger, Milwaukee, is the vice president acting as chief counsel. Several weeks after these appoint- ments, the board announced the se- lection of the fifth vice president to handle vessel and shipyard sales and salvage problems. He is Joseph W. Powell, formerly vice president of the Bethlehem Shipbuilding Corp., Bethle- hem, Pa. His duties will also embrace the reorganization of the financial, ac- counting and sales departments of the board. Mr. Powell first was offe-ed the position of senior vice president and general manager of the Emergency Fleet corporation at a large salary, but refused. His assent was finally won to accepting his present position but retused any salary for his that. they. 'News services. His agreement calls for hay- ing an absolutely free hand for three months in the departments he will con- trol, his intention being to give up government service at the end of that time. Mr. Powell. ranks 'high among American shipbuilders and marine au- thorities. -He is a graduate of the United States Naval academy and served in- the construction corps of the navy. He resigned in 1906 to associate himself with the William Cramp & Son Ship & Engine Building Co., Philadelphia. In 1914, he became president of the Fore River Shipbuild- ing Corp. and three years later was placed in charge of the five big ship- building properties of the Bethlehem company. He only recently resigned from that position. He is 44 years old. His work is one of the most im- portant entrusted to the new _ board, as the proper organization of the sales, financial and auditing departments has been beyond the capacity of members of the earlier boards. The selection of Mr. Powell com- pletes a circle of experienced and rec- ognized __ business authorities now grouped around the new board. In addi- tion to these five vice presidents, the claims commission numbers Homer L. Ferguson, president of the Newport Shipbuilding & Drydock Co., Newport News, Va. as one of its members. Other men have been named_ to numerous minor posts in the reorganized shipping board and their selection has brought out the approval of old time merchant mariners who long have felt the need of practical man in control of the nation's shipping.