UNITED STATES DURING THE GREAT WAR. 33 



Table IV. — Values of Yards that Have Held E. P. C. Ship Contracts. 



Shipyard Plants 



the cost of the ships In some instances loans were made and secured by mortgages 

 on the property. In order that the resources of the country might be more fully 

 utilized, the Fleet Corporation decided upon the establishment of the so-called agency 

 yards. Agency contracts were made with firms which had been successful in ship- 

 building or allied enterprises, to construct shipyards and subsequently the ships 

 themselves. The yards were constructed directly from funds furnished by the 

 Emergency Fleet Corporation, each expenditure being subject to supervision and 

 approval in detail by representatives of the Emergency Fleet Corporation's or- 

 ganization. 



Inasmuch as all other contracts for shipbuilding were the result of negotiations 

 between the contractors and the Fleet Corporation, the contracts varied considera- 

 bly in their terms, and it is impossible to do more than classify them in a general way. 

 The designing, laying out and constructing of the various yards were left to the 

 contractor who was to build the ships. He was held responsible by the Fleet Cor- 

 poration for producing results. In many cases, however, contractors were required 

 to submit their yard plans for approval by the Shipyard Plants Division of the 

 Home Office in order that the corporation might have opportunity to examine the 

 plans and make suggestions leading to their improvement which would increase the 



