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First company to be hauled up on the Senate's dissecting table was Export Steamship, a flashy young hustler born in 1919. Most travelers know that American Export Lines operates a fair-to-middling passenger service out of New York through the Mediterranean to the Levant (Palestine, Syria, Egypt), that its best boats all have names beginning with ''Ex" (Excalibur, Exochorda, Exeter, Excambion), the first of which Mrs. Herbert Hoover christened. Senator Black's investigation disclosed the following about Export Steamship's past and present...

Author: /time Magazine | Title: TRANSPORTATION: Subsidies Scrutinized | 10/9/1933 | See Source »

Campbell Bascom Slemp had hardly left the White House as Calvin Coolidge's secretary when Mr. Herbermann snapped up his professional services to help Export Steamship buy some freighters from the Shipping Board. The Government was asking $8.50 per ton. Export Steamship offered $5. Fixer Slemp got 18 of them for his client for $7.50 per ton-a total of $1,071,431. He sent the company a bill for $50,000. Mr. Herbermann settled...

Author: /time Magazine | Title: TRANSPORTATION: Subsidies Scrutinized | 10/9/1933 | See Source »

Before the ship sale was completed, a $510 tailor bill for three suits and an overcoat for Chairman O'Connor found its way into the Export Steamship offices, was mysteriously paid with cash. President Herbermann swore he had not paid...

Author: /time Magazine | Title: TRANSPORTATION: Subsidies Scrutinized | 10/9/1933 | See Source »

...four "Ex" passenger liners. He got the cash at less than 1% interest. When his Government loans began to gall, he went to Washington to get them extended, spent $11,360 in 30 days on "entertainment." The Shipping Board's comptroller recommended disapproval of the extension because Export Steamship owed $3,952,000, had assets of only $1,172,199. Robert Patterson Lamont, then Secretary of Commerce, wrote the Shipping Board that he saw no objection in the 3-to-1 balance sheet...

Author: /time Magazine | Title: TRANSPORTATION: Subsidies Scrutinized | 10/9/1933 | See Source »

...chugging out and back to the big ships which anchor off Cherbourg, explained last week that the Municipality has set 30,000 francs ($1.176 at par) as the price of permitting a liner to dock, counts on the demands of tourists for an easy gangplank landing to force the steamship companies to pay this price. The tender captains charge only 6,000 francs ($235) for landing or embarking 200 passengers. Thus far tourists have been so scarce this year that no line calling at Cherbourg has been willing to pay the extra charge for the sake of being able...

Author: /time Magazine | Title: Foreign News: Not a Single Ship | 9/4/1933 | See Source »

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