Word: steamships
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Billy Lovett stopped minding his own business after one of his Suwanee Fruit & Steamship Co.'s three freighters (outmoded World War I destroyers which he converted into banana ships) happened upon the stricken La Paz, towed her toward shore. A mile and a half off Cocoa, Fla. she sank in the mud and Government engineers despaired of salvaging her. But Lovett, with a $500,000 salvage claim against her owner, decided to heed the call of "patriotism and profit." At the U.S. marshal's sale, he bought her (for $10,000), set out to float her again...
...science of remaining in business in the swift-changing war economy has produced many a weird result: gasless gasoline stations selling hardware, hammerless and nailless hardware merchants vending dry goods, autoless automobile dealers distributing food products. Latest business gallimaufry is a combination of steamship operations and egg dehydration...
...long-established (1916) Great Lakes Transit Co. announced its stockholders' approval of a $165,000 expenditure by the steamship company to acquire three egg dehydration plants. Largest operators of Great Lakes package freighters, G.L.T.C. normally operated 14 hustling steamers. Before the war it was well content with its average 1,000,000 tons of package cargoes annually. But this year the Government requisitioned ten of G.L.T.C.'s ships for war service, and ODT ruled that the remaining four must carry grain. The package business is no more; profits have gone aglimmering...
...Atlantic Gulf & West Indies S.S. bought 15,468 shares of its $100 par stock in the five months ended August at $40 a share or less-for a bookkeeping profit of at least $925,000-50% more than the total of its real profits from steamship operations in the first six months...
...export shipping space situation, as summarized for Chicago's World Trade Conference by Shipping Agent Edwin A. Kuecker (Kuecker Steamship Co.) last week...