STATE FLEET RESULTS

Two and a half billion in the water

Paris, 25. — We know that during the war, the State thought it essential to constitute a fleet. He probably felt that our shipowners were not sufficiently familiar with the trade. He preferred, rather than using their services, to compete with them.

This company, like the other state companies, was extremely expensive: negligence, mismanagement, inexperience, negligence, administrative routine, paperwork succeeded in paralyzing the unfortunate state troop, whose balance sheet is finally known. Here it is, presented, after laborious studies, by M. Leboucq, deputy for Paris, in charge of the examination of this service.

Purchase and construction of ships 1,522,000,000
Operation 476,000,000
Total liabilities 1,998,000,000
Assets: liquidation proceeds + 190,090,000

There therefore remains a gross deficit of 1 billion 998 million, which, if we add lost interest, reaches the formidable figure of 2 billion 548 million.

The State will pass this sum to the Profits and Losses account, and we, taxpayers, all we have to do is go to the cash register.