Word: cargo
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Dates: during 1940-1949
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...July 1945, Prescott had raised $87,000 from flyers, another $87,000 from businessmen. In Washington he had used his veteran's priority to buy a DPC-owned fleet of 14 surplus Conestoga twinengine cargo planes for $401,000 ($90,000 down). He promptly got most of his down payment back by selling six of them for a profit of $80,000. Then National Skyways Freight Corp. took...
...Since no operator can afford to pay the inflated cost of ships built during the war, and compete with the lower-priced ships soon to be launched from European yards, dry-cargo ships (Liberties, Victories and transports) will be sold at half their original price. Tankers will be held for their full cost. The terms: at least 25% cash, not more than 20 years to pay the balance (at 3½% interest...
...expects that foreign buyers will want many high-priced U.S. ships, or that there will be any commercial use, under any flag, for more than half the 5,000 ships available. Some cargo ships have already been laid up. Hundreds more will follow soon, until the quiet estuaries along the U.S. seaboard become as cluttered with rusting ships as they were after World War I. The U.S. will simply have to write off billions spent on shipping, just as it is writing off billions spent on war plants...
Dutch Treat. The U.S. wartime policy of allocating surplus air transports to foreign airlines paid a fat dividend. The Royal Dutch Airlines (K.L.M.) bought 16 surplus transports and The Netherlands Government granted U.S. airlines cabotage (the right to land and embark cargo and passengers en route to any destination in the world served by American flag lines in Holland). Thus the Dutch subscribed to the "Five Freedoms" drafted (but not adopted by all the countries) last year at the Chicago International Civil Aviation Conference (TIME, Dec. 11). Result: American Airlines Overseas, Inc., formerly American Export Airlines, certified...
...Resumed. The first passenger vessel from the U.S. since early 1942 nosed its way between the coral reefs that line the channel into Hamilton, Bermuda. She was the Furness, Withy & Cox, Ltd.'s trim, flag-bedecked, 3,500-ton Fort Townsend, carrying 31 passengers and 830 tons of cargo...