History - Timeline: 1900-1949 (continued)

General, Company History Year Vessel, Maritime History The President Harrison Click image for larger version. 1923 The tradition of naming ships after U.S. “presidents” begins when Captain Dollar purchases seven president ships from the U.S. government. They are the Presidents Adams, Garfield, Harrison, Hayes, Monroe, Polk, and Van Buren.   Click on image to see another page from this Dollar Line brochure. Dollar Line inaugurates its round-the-world service with the departure of the President Harrison on January 5. 1924 Dollar family acquires the Pacific Mail name, house flag, and goodwill from Grace Line. 1925 Dollar family’s strategy of purchasing competitor’s stock results in their company’s near-monopoly on U.S. shipping in the Pacific Coast. 1926 Dollar Line purchases five 535 class vessels to expand its round-the-world passenger-freight service. Realizing the importance of trans-Pacific trade in the 20th century, Captain Dollar publishes a booklet titled, “Have You Investigated the Oriental Market for Your Product?” to encourage others to invest in Asia. Dollar Line’s round-the-world service carries 45,231 passengers and produces a gross revenue of $6 million in a single year.   Click image for larger version. Merchant Marine Act of 1928 establishes generous subsidies for carrying mail and requires the use of new ships to do so. Dollar Line signs a lucrative mail contract and borrows money to build new ships. 1928 U.S. stock market crashes on October 29, ushering in the Great Depression.   The President Hoover Click image for larger version. 1929 Dollar Line begins construction of six new ships for its government mail contract. However, because of the Great Depression, only two vessels are built — the Presidents Hoover and Coolidge. 1931 The Presidents Hoover and Coolidge are placed into service. As a sign of the hard economic times, the two luxurious ocean liners carry less than half the number of passengers they could accommodate on their maiden voyages. Captain Robert Dollar dies on May 16 at age 88. His son, Robert Stanley, succeeds him. 1932 The President Hoover after running aground. Merchant Marine Act of 1936 creates the U.S. Maritime Commission. The commission, whose first chairman is Joseph P. Kennedy, oversees subsidies to offset construction and manning cost on U.S.-flag vessels. 1936 Click image for more information about our logos. 1937 The Hoover runs aground off the coast of Taiwan and is declared a total loss. Dollar Line fleet is worth $11 million, but the company’s liability is $17 million. Interest on the debt is accumulating at a rate of $80,000 per month. 1938 R. Stanley Dollar Despite the efforts of Robert Dollar’s son, R. Stanley, the U.S. Maritime Commission judges Dollar Line to be unsound. The government assumes control of Dollar Line in August and renames the company American President Lines. World War II begins on September 1st. U.S.-flag vessels are prevented from entering European ports by the Neutrality Act. 1939 1940 U.S. government builds 16 new ships for American President Lines, including the President Jackson, a C-3 class vessel. U.S. enters World War II. 1941 The Jeremiah O'Brien, a Liberty ship. War Shipping Administration is created on February 7. 1942 American President Lines acts as an agent for the War Shipping Administration, overseeing vessel manning, equipping, overhaul and repair, handling of cargo and passengers, and fueling. Along with hundreds of Liberty and Victory ships, the company’s fleet is used for the war effort. War Shipping Administration begins using containers to ship vital supplies more quickly and efficiently than traditional break-bulk methods allow. 1944 U.S. government builds 16 additional ships for American President Lines, including the President Buchanan, a Victory class vessel. World War II ends on August 15. 1945 American President Lines’ assets are estimated at $40 million. R. Stanley Dollar initiates the Dollar Case in order to force the government to return the company to his family. The case continues for the next seven years. American President Lines’ ships are once again providing service on routes like the company’s round-the-world service. The Presidents Cleveland and Wilson. 1947 With the launching of the Presidents Cleveland and Wilson, American President Lines reestablishes its preeminence in the passenger trade. Designed to carry 550 passengers and a crew of 352, the ships were advertised as “your American hotel abroad.” To 1950–Present Timeline