French Line Floated

With a U. S. syndicate bidding $28,000,-ooo for control of the Campagnie Gen- erate Transatlantique (French Line) last week. Premier Pierre Laval went before the Chamber of Deputies, fought to keep this major maritime enterprise 100% French.

The French Line, M. Laval reminded the Chamber, operates not only transatlantic, trans-Mediterranean and Far East services (to French Indo-China) but has pioneered French Morocco as a tourist playground, built in the oases of its deserts a chain of de luxe hotels. With depression striking everywhere, M. Laval found it possible to understand how the French Line has incurred a deficit, asked the Chamber to guarantee in the name of the State a $6,000.000 French Line bond issue. "The Campagnie Generate is not the only navigation company now in trouble," wound up M. Laval. "I might cite the Royal Mail Steam Packet Company of Great Britain" (TIME, June 15).

"Yes!" shouted Deputy Jacques Stern, a Paris banker of some prominence. "Yes, but a director of the Royal Mail is going to be sent to jail! How did the French Line get into such trouble? Mismanagement!"

"You can have no proof," retorted M. Laval, "that there has been mismanagement of the Campagnie Generate. By such insinuations you serve the ends of foreign competing companies"

Soon M. Laval got thus patriotic guarantee he sought by a smash vote of 500 to 78, the largest majority his Government has won on an important issue this year. But Deputy Henri Tasso arose to croak like Epic Poet Tasso of old:

"There is a tonnage of 60,000,000 in transatlantic service, and there are but 40,000,000 tons of freight to be carried. Such a situation cannot be prolonged."

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