THE PRESIDENT said:
"The Comptroller's report on matters connected with the Shipping Board relates to transactions mostly several years ago and all of them prior to this administration.
"It is my understanding that there is no charge of misfeasance, but in any event I have requested the Attorney General to study the Comptroller's report and to determine if there has been any violation of the law. It is also fair to the Board and the employees that this should be done."
Note: The report charged that the Shipping Board's Merchant Fleet Corporation had dissipated large sums through its unwise and unbusinesslike handling of the disposal of Government ships. It was submitted to Congress on October 3 and published as House Document 111.
Herbert Hoover, Statement on an Investigation of the U.S. Shipping Board. Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/207417