War Risk Insurance: Hearings Before the Subcommittee on Merchant Marine of the Committee on Merchant Marine and Fisheries, House of Representatives, Eighty-fourth Congress, Second Session, on S. 1833, to Amend the Merchant Marine Act of 1936, as AmendedU.S. Government Printing Office, 1956 - 28 pages |
From inside the book
Results 1-5 of 5
Page 13
... million or $ 2 million . Mr. MORSE . That is why in your situation he would have rejected the stated value of $ 100,000 feeling that his vessel was of a value substan- tially in excess of $ 100,000 . Mr. BONNER . Is not the answer to ...
... million or $ 2 million . Mr. MORSE . That is why in your situation he would have rejected the stated value of $ 100,000 feeling that his vessel was of a value substan- tially in excess of $ 100,000 . Mr. BONNER . Is not the answer to ...
Page 22
... million . In such a situation , it is not unreasonable to pro- vide that an owner who is willing to pay premiums calculated on the risk should be able to insure his own investment in a section 802 vessel for the same unen- hanced market ...
... million . In such a situation , it is not unreasonable to pro- vide that an owner who is willing to pay premiums calculated on the risk should be able to insure his own investment in a section 802 vessel for the same unen- hanced market ...
Page 23
... million and had been depreciated for 10 years , so that its depreciated value was $ 1 million . The just com- pensation value , let us say , would be $ 1.5 million . That would be just market costs going ahead , not having anything to ...
... million and had been depreciated for 10 years , so that its depreciated value was $ 1 million . The just com- pensation value , let us say , would be $ 1.5 million . That would be just market costs going ahead , not having anything to ...
Page 24
... million down to $ 500,000 . In the same position as the nonconstruction subsidy vessel , general world conditions had raised the market value , we will say the true just compensation value - of the whole vessel to $ 1.5 million . In ...
... million down to $ 500,000 . In the same position as the nonconstruction subsidy vessel , general world conditions had raised the market value , we will say the true just compensation value - of the whole vessel to $ 1.5 million . In ...
Page 25
... million excess over losses reverted to the Federal Government ? Mr. RICE . Yes , sir ; it did . Mr. PELLY . That is all . Mr. BONNER . Does counsel have any questions ? Mr. ZINCKE . Mr. Rice , just so we understand each other on this ...
... million excess over losses reverted to the Federal Government ? Mr. RICE . Yes , sir ; it did . Mr. PELLY . That is all . Mr. BONNER . Does counsel have any questions ? Mr. ZINCKE . Mr. Rice , just so we understand each other on this ...
Common terms and phrases
60 days Accounting Office actual requisition agency ALLEN amend the Merchant American Merchant Marine American Steamship Association ance Appropriation Act BONNER Chairman charter claims COMMITTEE ON MERCHANT compensation value construction subsidy paid construction-subsidized vessel court determination depreciated entire construction cost entitled event excluding the cost fair and reasonable Government hull insurance insured vessel interim period JAMES TUMULTY June 19 just-compensation KLUCZYNSKI MAILLIARD MARINE AND FISHERIES Maritime Administration Maritime Commission market value ment Merchant Marine Act Merchant Marine Institute MORSE national defense features Pacific American Steamship pay a premium payable payment PELLY pensation period of insurance present law prohibited enhancement proposing questions reasonable value reject the valuation requisitioned for title RICE risk insurance Secretary of Commerce section 802 vessels Senate ship shipowner tion title under section TOLLEFSON total loss United valuation determined vessel owners vessels built War Shipping Administration WILLIAMSON World War II ZINCKE
Popular passages
Page 2 - President and shall be entitled to sue the United States to recover such further sum as, added to said...
Page 23 - Provided, however, That in the case of a construction subsidized vessel, for the period of insurance prior to requisition for title or use, the valuation so determined shall be reduced by such proportion as the amount of construction subsidy paid with respect to the vessel bears to the entire construction cost and capital improvements thereof (excluding the cost of national defense features) , and for the period of insurance after requisition for use the valuation so determined shall not exceed the...
Page 1 - ... 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...
Page 1 - Be it enacted by the Senate and House of Representatives of the Vnited States of America in Congress assembled, That this Act may be cited as the Bank Holding Company Act of 1947.
Page 2 - Commission's judgment, will be just compensation for the use of such property and for the services required under the terms of such charter. If such person does not execute and deliver such charter and accept such...
Page 5 - ... (2) In respect of hull insurance, the valuation in the policy for actual or constructive total loss of the vessel insured shall be a stated valuation (exclusive of National Defense features paid for by the Government) determined by the Secretary which shall not exceed the amount that would be payable if the vessel had been requisitioned for title under section 902 (a) at the time of the attachment of the insurance under said policy...
Page 2 - Maritime Activities" in title III of the Department of Justice, State, and Commerce Appropriation Act, 1954, the tenth paragraph under the heading "Operating Differential Subsidies" in title II of the Independent Offices Appropriation Act, 1953, the corresponding paragraphs of the Independent Offices Appropriation Act, 1952, and the Third Supplemental Appropriation Act, 1951, although the excess of any amounts advanced on account of just compensation over the amount of the court judgment will be...
Page 2 - Maritime Activities in title I of the Department of Commerce and Related Agencies Appropriation Act, 1956, in the tenth paragraph under the heading Maritime Activities in title III of the Department of State, Justice, and Commerce, and the United States Information Agency Appropriation Act, 1955, in the eleventh paragraph under the heading "Maritime Activities...
Page 7 - Secretary and shall be entitled to sue the United States in a court having jurisdiction of such claims to recover such valuation as would be equal to the just compensation which such court determines would have been payable if the vessel had been requisitioned for title under section 902 (a) at the time of the attachment of the insurance under said policy...
Page 1 - ... if the insured has so rejected such valuation, the insured shall be paid as a tentative advance only, 75 per centum of such valuation so determined by the Secretary and shall be entitled to sue the United States in a court...