American President Lines, Ltd. v. Federal Maritime Board

Plaintiff (appellant), American President Lines, Ltd., a subsidized shipping operator, filed this action for a declaratory judgment against the defendants (appellees), the Federal Maritime Board and its individual members. The complaint sought a judgment that the term “capital necessarily employed in the business,” contained in General Order 31 issued under § 607(d) of the Merchant Marine Act of 1936, as amended, must be used by appellees rather than the definition of that term contained in General Order 71, as amended, in computing the net amount of the subsidy inuring to appellant under its…