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Latest Data on New Marine Work Information on New Ships Ordered—Building and Repair Con- tracts Let—Shipping Board Loans Made, Authorized or Pending A. Swanson announced on May 16, that construction of 12 de- stroyers, 2 destroyer leaders and 6 submarines, at an estimated cost of $40,000,000, will begin as soon as funds are made available out of the $1,322,000,000 public works allot- ment requested from congress by the President. The new construction will consti- tute the first year’s program under the Vinson naval building act which authorizes bringing the navy up to full treaty strength by the replace- ment of 102 ships within the next five years. The work has not yet been desig- nated to any private shipyard or navy yard, In line with recent navy policy and in accordance with the terms of the act, it is assumed that one-half of this work will be awarded to private shipyards and one-half to navy yards. GS seamen of the Navy Claude To Launch Patrol Boat First of three 165-foot steel coast guard cutters to be built by the Lake Union Dry Dock & Machine Works, Seattle, the ATALANTA is scheduled for launching June 11. About 20 days later the second vessel will be ready to take the water. After the ATaA- LANTA, estimated for completion about Sept. 1, leaves the ways the keel of the third craft will be laid. These vessels are to be propelled by twin Winton diesel engines of 670 horse- power each. Aircraft Carrier Ranger Trials of the new 138,800-ton air- craft carrier RANGER, over the Rock- land Me., course during the week of May 6, conducted by her builder, the Newport News Shipbuilding & Dry Dock Co., Newport News, Va., indi- cated that she would exceed contract stipulations both in speed and econo- my. Rear Admiral George C. Day, U.S.N., president of the naval board of inspection and survey, was re- ported to be highly pleased with the results. The RANGER is scheduled to be placed in commission at Newport News, Va., on May 26, and will be commanded by Capt. Arthur UL. Bristol, U.S.N. Final trials under the naval board of inspection and survey are to be held in October shortly after which, it is expected, the RANGER will join the fleet. The new aircraft carrier, though of 24 only 13,800 tons displacement, com- pared with 33,000 tons for the LeEx- INGTON and SARATOGA, has a capacity for 72 airplanes, equal to that of either of the two larger vessels. While the LrExINGToN and SARATOGA were originally laid down as battle cruis- ers, and converted during early stages of construction to aircraft carriers, the RANGER was designed as an air- craft carrier with the added advan- tage of experience from the operation of other vessels for similar duty. Arctees in New York The S. S. Arctrrrs, latest arcform ship to visit this country, and for which the designer Sir Joseph W. Isherwood & Co. Ltd. is also the man- ager, was open for inspection at her Brooklyn pier on May 22 and 23. In addition to improved hull de- sign, the propelling machinery is also of the most modern design of its kind. The single propeller is direct- ly connected to a triple expansion steam engine equipped with a high pressure cylinder and poppet valves of the Lentz system, which is oper- ated by superheated steam of high degree. Superheaters were supplied by The North Eastern Marine Engi- neering Co., England, licensee of The Superheater Co., New York. Need Cost-Finding Formula for New Naval Work The treasury and navy departments are giving joint attention to that por- tion of the Vinson act which pro- vides that naval contractors under this act shall not make profits great- er than 10 per cent. In the first place, it now is quite clear that this restriction will apply only to new ships. It will not apply to contracts for materials for use in repairs and maintenance. Setting up a method to compute the profits is proving a difficult task. What items of overhead, as well as operating expenses, will be included to ascertain the cost? To what extent can the statements of contractors be accepted under this law, and to what extent will it be necesary for the government to examine corporate af- fairs in order to make a thorough cost analysis? There yet is no clear- cut plan as to how to set up a cost- finding formula. The Vinson act, according to some MARINE REVIEW—June, 1934 observers in Washington, distinctly encourages companies to organize. new units for the purpose of bidding on and obtaining and executing con- tracts for new ships under this act. It is thought that this would result in the keeping of a separate set of books which would show accurately the results of executing the naval shipbuilding contracts, without being affected or confused by the results of other, separate operations. Of course, it is pointed out, there might be some temptation on the part of such con- tractors to shift to the new company a considerable share of the overhead of the parent company, but it is felt that the vigilance which now is being exercised in keeping track of govern- ment contractors would prove an ef- fective preventative of any possible abuses along these lines. Queen to Name Cunarder The Cunard line has announced that its superliner No. 534 now under con- struction at the shipyard of John Brown & Co. Ltd., Clydebank, is to be launched on Sept. 26, and that Queen Mary has consented to act as sponsor at the launching ceremonies which are to be attended by the King and a not- able group of invited guests. Though no definite date has been set, it is now believed that the giant liner which was designed to be the largest and fastest afloat will enter service on the transatlantic run in the summer of 1935. She will have a length of over 1000 feet and her gross tonnage will be about 73,000. Her contract speed which is said to be 32 knots will enable her to cross the At- lantic in four days. If the name of the liner has been decided upon, it continues to be an _ official secret, though there are unofficial rumors . that she will be christened the PRIn- CESS ELIZABETH. Diesel Engine Installed The wood tug PROSPER 84 feet long, built in 1898, and now owned by the - Bellingham Tug & Barge Co., has been given a new lease of life by the scrapping of the former 225 horse- power steam plant and the installa- tion of a 350 horsepower Atlas-Im- perial diesel engine. The PROSPER is an ocean going craft and with the - new rig has developed a speed of 11 knots. The wood hull was found in excellent condition warranting the- expense of the new installation.