HEARING BEFORE A SUBCOMMITTEE OF THE COMMITTEE ON INTERSTATE AND FOREIGN COMMERCE UNITED STATES SENATE EIGHTY-THIRD CONGRESS SECOND SESSION ON S. 1148 and S. 1878 BILLS TO AMEND THE MERCHANT MARINE ACT OF 1936 MARCH 19, 1954 Printed for the use of the Committee on Interstate and Foreign Commerce CONTENTS Statement of Ackerson, Eugene J., Legislative Counsel, Maritime Administration, Pago 22 Casey, Ralph E., Associate General Counsel, General Accounting 2.47 Morgan, George W., president, Association of American Ship Owners, 33 42 Rice, Albert E., counsel, American Merchant Marine Institute, Inc., Statement submitted by Dewey, Ralph B., Washington representative, Pacific American Steamship Association, 1625 K Street NW., Washington, D. C.---Letter from Ball, Joseph H., vice president, Association of American Ship Owners, to Hon. Charles W. Tobey, dated April 24, 1953, re S. 1148................ Reports from Department of Commerce, dated July 23, 1953 on S. 1148.. 50 37 25 22 13 16 III MARITIME WAR RISK INSURANCE AMENDMENTS FRIDAY, MARCH 19, 1954 UNITED STATES SENATE, SUBCOMMITTEE No. 4 ON WATER TRANSPORTATION OF THE COMMITTEE ON INTERSTATE AND FOREIGN COMMERCE, Washington, D. C. The subcommittee met at 10:05 a. m., pursuant to call, in room G-16 in the Capitol, Senator Warren G. Magnuson presiding. Present: Senator Magnuson (acting chairman). Senator MAGNUSON (acting chairman of the subcommittee). We will proceed, gentlemen. This is a hearing on S. 1148, introduced by Senator Schoeppel in March 1953, and S. 1878, introduced by me, in May 1953. Both bills were sponsored by the Association of American Shipowners, and we will put both the bills in the record at this point. (The bills, S. 1148 and S. 1878, are as follows:) [S. 1148, 83d Cong., 1st sess.] A BILL To amend the Merchant Marine Act of 1936, as amended Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That (1) section 1209 (a) of the Merchant Marine Act, 1936, as amended (U. S. C., title 46, sec. 1289 (a)) is amended to read as follows: "(a) The Secretary, in the administration of this title, may issue such policies, rules, and regulations as he deems proper and may adjust and pay losses, compromise and settle claims, whether in favor of or against the United States and pay the amount of any judgment rendered against the United States in any suit, or the amount of any settlement agreed upon, in respect of any claim under insurance authorized by this title, but every hull insurance policy issued under the provisions of this title shall provide that if the amount of any claim on account of the actual or constructive total loss of the vessel insured exceeds the amount that would have been payable as just compensation under the fifth article of amendment of the Constitution if the vessel had been taken by the Government immediately preceding such loss, the indemnity on account of such loss that may be adjudged or paid pursuant to such claim shall be limited to an amount equal to the just compensation that would have been so payable." (2) Every war risk hull insurance policy issued under title XII of the Merchant Marine Act, 1936, which is in force on the date of the enactment of this Act, shall, as of the beginning of such date, be deemed to have been amended to conform to the requirements of this Act unless the insured, within ten days after such date, objects to such amendment. SEC. 2. The tenth paragraph under the heading "Operating Differential Subsidies" in title II of the Independent Offices Appropriation Act, 1953, and the corresponding paragraphs of the Independent Offices Appropriation Act, 1952, and the Third Supplemental Appropriation Act, 1951, are hereby amended by striking out the words "by this or any other Act" and inserting in lieu thereof "by this Act or by any other Act enacted prior to the date of the enactment of this Act." |