"An eligible American ship operate: of an essential service in the foreign: commerce of the United States may be paid an amount not to exceed the of the fair and reasonable cost in items of expense in which the ship operator is"at a substantial competitive disadvantage with foreign-flag ships. In the main, these competitive disadvantages are a consequence' of the higher operating costs of American flag ships necessitated by the higher American wages and standard of living, in our study of operating contions, we found that American steamship operators must meet competition in a world market, withen: the benefits of tariff protection from foreign flag ships, of nearly al? maritime nations including England. ated through trustees in reorganiza- France, Germany, Japan, Italy, present because the service is oper-Nor-
Text read from the printed page and cleaned; old type leaves the occasional error.