Terminals would be necessary. costing -as much more at least. and the buildlng up of a freight business is a matter of years. Only the inexperienced could dream of starting a steamship business on a commercial basis with $25.000.000. a small fraction of the capital of each of many private companies. A worse time for such an adventure could not be chosen. The ocean passenger trade for either tourists or Immigrants is prostrated. and the freight. business is worse. There will be no incoming freight on any attractive scale. and the glut of outgoing freight will not be -enduring. When the emergency is over what will have become of the $25.000.000. and what will be done with the remnant. if any?
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Immigrants