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Bids for Leasing Pier, Army Base, Boston Bids were opened on June 11 for leasing the army supply base at Boston for a period of five years beginning Aug. 8, 1934. The fol- lowing bids were received Water- front Terminals Ine., Boston, $44,- 728 per annum; Piers Operating Co., Boston, $55,711 per annum. Before further action is taken by _ officials of the shipping board bu- reau the bids will be analyzed and the financial responsibility of the bidders will be considered. A final decision is expected shortly. The Boston army supply base, one of the large terminal proper- ties under the jurisdiction of the shipping board bureau, is now op- erated by Boston Tidewater Termi- nal Ine., under a lease which has been canceled by the secretary of commerce as of Aug. 2, on the grounds that it was entered into without due advertising and com- petitive bidding, and with the fur- ther object of securing a revaluation of the rental value of the property. The old lease provided that the amount of rental should be 25 per cent of the gross revenue, whereas the new lease stipulates that rental will be at a fixed monthly rate pay- able in advance. Selecting Board Director Daniel C. Roper, secretary of com- merce, in considering the appoint- ment of a permanent director of the United States shipping board bu- reau to succeed Henry H. Heimann, has asked Homer L, Ferguson, presi- dent of the Newport News Shipbuild- ing & Dry Dock Co., and Edward P. Farley, chairman of the finance com- mittee of the American Hawaiian line, to suggest the names of six men each from which the secretary might make his selection. James Craig Peacock has been serving as acting director of the shipping board bureau. The secre- tary, however, is anxious to secure as director a man who has had prac- tical shipping experience. Promi- nent mention has been made of Thomas A. Scott of the Merritt Chap- man & Scott New York. Intercoastal Investigation James Craig Peacock, acting direc- tor of the shipping board bureau, recently announced that the hear- ing scheduled to be held in New York, June 21, known as the inter- coastal investigation, has been post- poned until July 12. The purpose of this inquiry is to establish a basis of facts regarding conditions in the intercoastal trade with the view to promoting greater stability. Sixty- two carriers have been named as respondents and have been notified to appear, Time for filling in replies to a questionnaire sent to respondents was extended to June 27, and for filing briefs to Aug, 13. The ques- tionnaire is intended to develop information relative to receiving, handling, storing and delivery of freight. This information when re- ceived will be open to public inspec- tion at the shipping board bureau until the close of business on July 10. United Licensed Officers’ On June 1, the United Licensed Officers’ association, the largest organi- zation of licensed ship officers in the United States, celebrated its first an- niversary. It comprises in membership about 75 per cent of the licensed per- sonnel sailing out of New York, and is planing the establishment of an office in the West Gulf area. Boston Shows Traffic Gain The duties collected in the Massa- chusetts customs district during Ap- ril amounted to $1,321,710.44, an increase of $454,924.66 over April last year. For the ten months of the fiscal year ending April 30, the duties amounted to $23,492,654.88, a gain of $8,859,658.38 over the cor- responding 10 months last year. The exports for January and Feb- ruary for the Massachusetts customs district were valued at $3,976,631, against $1,438,365 for the same two months last year, an increase of $2,- 538,270. The increase was chiefly in cotton, foodstuff, and re-exported wool, Depreciation Allowed A decision by the United States board of tax appeals in the case of the American South African Line Inc., is of importance to shipping men generally in the matter of allow- able depreciation of vessel property. Whereas the internal revenue service as a part of the general policy of col- lecting taxes to the fullest extent possible, sought to assess the South African line on a basis of 3 per cent depreciation annually, the court de- cided on 4 per cent for five vessels and 314 per cent on the sixth. The yessels involved are combination passenger and cargo ships. The treasury department has is- sued new regulations with reference to allowing depreciation. These reg- ulations are now effective for re- turns to be filed and also to all re- turns already filed and not yet aud- ited or closed. MARINE REview—July, 1934 Los Angeles Foreign Trade Shows Big Increase The month of May continued to show large increases in foreign trade at the port of Los Angeles over the Same month in 1933. The gain was greater than in any previous month this year. Value of exports for the month of May aggregated nearly $7,- 250.000, compared with $4,487,000 in May. 1933. an increase of more than 60 per cent. Imports increased from $1.802,000 in May, 1933. to $4,682.000 in May of this year, an increase of more than 158 per cent. This was the largest export month southern California has experienced since July. 1931. and the largest vol- ume of imports since January. 1931. Exports of cotton amounted to more than $1.200,000. Of this amount Japan alone took over $1,000,000 worth of raw cotton from Los Angeles harbor. Citrus fruits also amounted to more than $800,000 in export value. Shipments of oil for the month of May were a half million barrels more than in May of last year. but were con- siderably below the total for April of this year. Lumber receipts were only a little more than half of those of April. and amounted to only 20.000.000 board feet because of the longshoremen’s strike. Ordinarily lumber comes into this port at the rate of 1,000.000 board feet a day, but due to the strike not a lum- ber vessel arrived in more than ten days during the latter part of May. Traffic at Baltimore A very marked improvement in exports and imports for the first four months of this year, as com- pared with the same period last year, is noted at the port of Balti- more, For the first four months of this year, the export totaled $13,- 206,806 as compared with $5,620,- 124 for the same period last year. The imports: for the first. tour months of this year totaled $18,086,- 867 as compared with $12,003,261 for the first four months of 1933. Total exports and imports for the first four months of this year amounted to $31,293,673 as com- pared with $17,623,985 for the same period last year, During the month of April, 1934, the number of vessels in foreign, intercoastal and coastwise trade en- tered at the port of Baltimore, was 226 as compared with 218 for the month of March, and 172 for April, 1933. Of the arrivals during April, 155 vessels were of American registry; 25 British; 22 Norwegian; 7 Jap- anese; 4 Danish; 4 Swedish; 3 Hon- duran;’2 Dutch; 2 Panaman; and one each Brazilian and German. 27