OCR Text |
Show SCHWAB TAKES OVER BUILDIN60F SHIPS UNLIMITED POWERS GIVEN STEEL MAKER AND SHIPBUILDER IN NEW POSITION. Appointed Director General of Emergency Emer-gency Fleet Corporation and Will Endeavor to Put Through Program Pro-gram Already Under Way. Washington. The building of the great merchant marine which will transport America's men and resources to the battle front was entrusted on April 16 by the shipping board to Charles M. Schwab, steel maker and shipbuilder, who becomes director general gen-eral of the emergency fleet corporation with unlimited powers to put through the vast building program already under un-der way. "Mr. Schwab will have complete supervision su-pervision and direction of the work of shipbuilding," said an official announcement an-nouncement from the White House. Control of policies, which include decisions de-cisions as to the number, size and character of ships to be built with the millions appropriated by congress, still will rest with the shipping board. Mr. Piez. at his own suggestion, relinquishes relin-quishes the position of general manager man-ager of the fleet corporation which is abolished, to give Mr. Schwab a free hand. Mr. Hurley remains chairman of the board and president of the fleet corporation, in charge of policies. Mr. Piez continues as vice-president of the board, attending to administrative adminis-trative details of construction, including includ-ing the placing of contracts, and Mr. Schwab will organize and carry forward for-ward the work of putting the ships into the water. |