Central Gulf Steamship Corp. v. United States

On January 15, 1951, the plaintiff purchased from the United States the SS. Cooper Union Victory, a dry cargo ship of the Victory type, pursuant to the provisions of the Merchant Ship Sales Act of 1946,60 Stat. 41,50 U.S.C. App. §§ 1735-1746. The Maritime Administration, an agency in the Department of Commerce, acted for the United States in the transaction.

The “floor price” of the ship, under the provisions of the 1946 Act, was $859,157. The Maritime Administration at that time thought that if a ship contained “desirable features” "beyond the ordinary attributes and equipment of ships of its…