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Show I Provide for Sale of Ships to Foreign Interests If Good Offers Here Lacking WASHINGTON. June 2. Sale of American ships to foreign interests, if, , , . after diligent effort the shipping board i. -i has been unable to dispose of them' ' IV' to Americans, is provided for "in the merchant marine bill as finally agrceM upon by senate and house cou-J 1 ferecs after virtually an all-night scs-i sion. The conferees eliminated senatei ,. proposals to limit the sales to foreign) . jt interests of ships more than ten years I . j-- old and not exceeding 0,000 dead-. UHp'' weight Ions. Under, the bill as ap-' V proved not less than five members ofi 1 the board must vote for such sales I V and tho board must state as a part! Jkj. of Its records the reasons for the sale. I The bill also would require that 75 L per cent of the stock of companies en- i m gaged in coastwise trade be Amerl- j H can-owned. ( W Tho bill provides no lime limit in f Mi which the board would be compelled 1 to dispose of tho government-owned! p Mi ships. I .' 3n Americans would bo given fifteon ' jj jcars in which to pay for ships, but i j jq foreigners would be allowed only ten! I years and they would be required to r ,5n pay not less 4han five per cent intcr- est. The interest to be paid by Amerl-CIU1 Amerl-CIU1 Purchasers would be fixed by the Rjjal board. Byijy A permanent shipping board of sev-i E&ng cn members is provided for, two each if'gg from the Pacific and Atlantic coasts, lyi and one each from tho gulf, Great' FJaj Lakes and central west regions. Not EjstS more than four members of the B1CG board coud bo members of the same! Rm political party. K'y'tjj Senate provisions that no sale could Wtnui ne made at a piico below the coat of Kuij1 production at tho timo of making the Klej sale with a proper reduction for de- Ijsjo' preciatlou were eliminated. |