Early in 1918 a committee of representative Orleanians began to study the situation. This was known as the City Shipbuilding Committee. It comprised Mayor Behrman, O. S. Morris, president of the Association of Commerce; Walter Parker, manager of that body; Arthur McGuirk, special counsel of the Dock Board; R. S. Hecht, president of the Hibernia Bank; Dr. Paul H. Saunders, president of the Canal-Commercial Bank; J. D. O'Keefe, vice-president of the Whitney-Central Bank; J. K. Newman, financier; G. G. Earl, superintendent of the Sewerage and Water Board; Hampton Reynolds, contractor; D. D. Moore, James M. Thompson and J. Walker Ross, of the Times-Picayune, Item and States, respectively. On February 10, 1918, this committee laid the plans for an industrial basin, connected with the river by a lock, and ultimately to be connected with the lake by a small barge canal. Ships could be built on the banks of this basin, the water in which would have a fixed level. Mr. Hecht, and Arthur McGuirk, special counsel of the Dock Board, devised the plan by which the project could be financed. The Dock Board would issue long-term bonds, and build the necessary levees with the material excavated from the canal. The committee's formal statement summarized the public need of this facility as follows: "1. It will provide practical, convenient and fixed-level water-front sites for ship and boat building and repair plants, for industries and commercial enterprises requiring water frontage. "2. It will provide opportunities for all enterprises requiring particular facilities on water frontage to create such facilities. "3. It will permit the complete co-ordination, in the City of New Orleans, of the traffic of the Mississippi River and its tributaries, of the Intracoastal Canal, the railroads and the sea, under the most convenient and satisfactory conditions. "4. In connection with the publicly-owned facilities on the river front, it will give New Orleans all the port and harbor advantages enjoyed by Amsterdam with its canal system, Rotterdam and Antwerp with their joint river and ocean facilities; Hamburg with its free port, and Liverpool with its capacity as a market deposit. "5. It will give New Orleans a fixed-level, well protected harbor. "6. It will serve the purposes of the Intracoastal Canal and increase the benefits to accrue to New Orleans from that canal. "7. In connection with revived commercial use of the inland waterways upon which the federal government is now determined, it will open the way for an easy solution of the problem of handling, housing and interchange of water-borne commerce, and of the development of facilities for the storage of commodities between the period of production and consumption.