Dollars for Dollar

For seven years, San Francisco's Shipping Tycoon R. (for Robert) Stanley Dollar has waged a lone battle against the U.S. Government. His object: to force the Government to give him back the old Dollar Steamship Lines (now American President) which he had lost in 1938 when he could not pay a $7,500,000 Government loan (TIME, Nov. 27, 1950, et seq.).

Though Dollar won his case right up to the U.S. Supreme Court, Secretary of Commerce Charles Sawyer refused to hand over the property, started a new appeal to the courts. But last week Sawyer and Dollar came to terms out of court in a Solomon-like decision that will cut the baby in half. The line will be sold at public auction for a minimum price of $14 million, to be split 50-50 between Dollar interests and the Government. The line should bring much more, since its assets are estimated at $32 million. Dollar indicated he might bid for the line himself, go back to running it if he wins.

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