w^rlier the steamship owners had
'emned government operation ami
J bmitted their recently rejected
I , while the managing operators
' forward a proposal. The chief
'*■ 'rence between the two private
>. ershlp plans i^w the expressed
iingness of the operators to share
idi the government losses in the
a me proportion that they woul d
hare profits.
On the other hand, the steamship
wners proposed to impose net prof
ts for the ultimate purchase of
hips, but contended the government
hould assume all the losses.
iTho corporations each would op
rate one or more lines,' and would
dopt “the commercial form of or
animation and operation that will
e followed by. a private purchaser
.hen such purchaser has been
(Aiml." The shipping board would
zeroise the same direct control over
hem as any large private corpora
on exercises over its subsidiaries.
! hairman Farley's announcement
.s made in response to a declara
i ,n by the steamship owners that
I.fore they could perfect concrete
f.oposals they must know what the
pard had in mind as an alternative,
ifter he had presented his plan. Mr.
arlev asked the owners and oper
tors to act quickly.
“We cannot brook any delay," he
r.id, “but must proceed."
! Gale H. Carter, vice-president of
I'd Steamship Owners’ association,
(Continued on Page Two)
JAPAN GASPS AS
ANCIENT PREMIER
}IS REAPPOINTED
Admiral Count Yamonoto Has
Not Accepted Official
Post Yet
(. TOKIO. August 2$.—Admiral Count
Gombei Yamamoto, head of the gov
ernment at the time of the famous
naval scandal in 1214, has been ap
pointed premier by the Prince Regent
Tuesday to succeed the late Baron
Kato. Yamamoto had not accepted
the position late Tuesday.
