The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-11-12
SALE OF PROPELLERS IN ENGLAND.

. Inc sale OF the frencn ScreW-Ste9mcr ffancnlS
Arag0, by auction last week, at Birkenhead, by
order Of the High Court of Admiralty, has excited
attention to the low prices ruling for this descrip
ton of property, and speculations to the future
OF the fleet OF screw-steamers at present on SALE
Many are forced on the market from the bankrupt
cy of the companies for whom they were specially
constructed. Since 1882 screw propulsion for sea-
going ships has increased in a much greater ratio
than the Legitimate demand. L. From the exagge-
rated value attached to the combination of the
screw propeller with sails. 2. From the great
stimulus given to it by the Russian war. 3. From
the great facilities of credit given to speculative
shlPbullders and owners in this country and the
Continent from 1854 to 1851
The practical result of Iona sea uoyaqes has proved
that auxiliary screwships are a costly mistake, and
full powered ones too expensive to compete with
clipper ships. The war demand partially revived
by the Indian mutiny and the Chinese mutinv has
ceased. The failure of the Western, Newcastle.
and other banks, has put end to the credit sys-
tenn of shpbuilders, and the general result is that
screw-steamers are selling at about onethird, or,
was the case with the Francois Arago one-ffth
of their original cost when they can be sold at ALL
for the difficulty is to get bidder at any price In
Hamburger the Petropolis and Teutonia, two mag
nifcent screw ships, were offered by public sale
few days ago, at tl0 per ton, having cost nearly
GAO, and not single bid was made for them.
On the 2Sth, new screw vessel of 9 400 tons be-
longing to the same owners, or rather to their
creditors, will be sold by auction in the CLYDE. On
the 3Oth, the fleet of steam vessels belonging to the
peheoCS OolhPduy, comprising SIX screws, four OF
them l,SOO tons, come to the hammer; to be fol-
lowed by the Antwerp steamers built for the trans
Atlantic trade, of 1000 tons each In France the
Franco-American Company having lost their capital
OF 500 O0O francs f64000), their half dozen ves-
sells OF IL to $500 tons must be sold to paUof the
liabilities of the company; and the fleet of the
European and American Company cOmposed of
equally magnificent ships, must follow, if the posi-
ton OF the concern is to be judged of by the price
of their shares.
Here then are twenty or thirty large screw
steamers that must be cleared before the market
can revive; where are the buyers to come from and
what are the circumstances that will rule prices
First, must remark that of the whole the great
majority of the highest class auxiliary screw ships.
perhaps there not above two or three that could
pass the Admiralty standard of twelve knots at the
measured mile. 1t appears clear that these vessels
will be sold at the price at which they will paw as
sailing ships consequently, their value is ruled by
the freight market, and their power of competency
with theimproved class of timber ships now at work
With their engines taken out, many of these ships
would answer admirably as CARRYING vessels and we
predctth will be the fate of all the auxiliary ships
The fact must be looked in the face, that in the
present state of steam navigation, auxiliary
steam vessel can pay on q foreign UOydge, that does
not carry her coal for the phole distance The two or
three Of the lot that can steam twelve knots must
look for customers in the large mail companies, and
take what price they can get for them. The small
class of screws sale, from 400 to 500 tons will
be absorbed by the coasting and continental trade
dred companies, have so swamped the market that
a considerable time must elapse before the brokers'
lists seriously diminished. Their holders are,
however, in better plight than the holders OF
large steamers; for one purchaser of n two-thou-
sand there are twenty for an eight hundred-to
screw.
Is screw steaming at end, then? Far from it,
The joint stock companies banks, who have been
the principal means of creating the surplus of i'll
adapted screws, are for the time done for; but the
legitimate trader will go on gradually and proita-
bly, developing steam navigation, using his expe-
rience, and what is of equal consequence to success
his money, in constructing the best description
of vessel for the particular trade she is required for
until, in the progress of time, new generation o
directors and their dupes get up steam navigation
companies, raise prices so per cent in all building
funds, pay sham dividends, build in twelve months
what ought to have been spread over ten years
spoil legitimate trading, finally go out in bank
ruptcy, and glut the steamboat market, as it now is
THE HOUSE OF PRUSSIA.
The crisis in Prussia, for some time anticipated
has passed quietly. The sceptre has fallen almost
without observation, from the hands of Frederick
William w., and his history a reigning sovc
reign of Europe may be considered writtep.-
The King, by his own act, has conferred the regen
cy, and virtually full authority to exercise the
roval functions, upon his brother William Louis
whose reign has actually commenced. In the de-
cree by which he has thus resigned his power
Frederick William to be sure, regards it as a tenn
shall resume the functions of his royal calling. Al
accounts agree, however, that the malady which
has occasioned this dynastic change is such as tC
render the Kings recovery hopeless, and therefore
to make the change permanent.
1t is not anticipated that with this change o.
sovereigns there will be any fundamental change
in the policy of the Prussian government. 1t is be
lieved, however, that constitutional freedom viii
be advanced, and that under the new regime PruS
sia, in its relations to Germany, will become more
and more the country Of progress and of liberal po
litical institutions.
Frederick William " is but sixty-three year!
of age, having been born on the 18th day of Octo
ber, 1875. He assembled the throne of Prussia il
1910. His reign has not been without the usual
vcissitudes, but has generally been distinguished
by success. William Louis, upon whom the gov
ernment has devolyed is the elder brother of the
king and the oldest of six brothers and sisters He
is the father of the young prince who has just be
come allied to the reigning house of Great Britain
by his marriage with the eldest daughter of Queer
! Victoria. He is only seventeen months younge
! than the king, having been born the 22d oi
March, 1897. He married the daughter of the lat
| Grand Duke of Sake Weimar. The other brothers
and sisters of the king are: Charlotte, born July
1898, and now widow of the late Gar Nicholas anC
Empress dowager of Russia; Charles, born June,
1901, who also married daughter of the late Crane
Duke of Saxe-W eimar; Alexandria, born February
1903, and now Grand Duchess DOwager of Neck
lenburg- g-Schwerin, having been married to Princ(
Frederick in 1920; Louisa, born February, lS0S
and Albert, born October, 1909, who married Mari
ana, daughter of the late King William |. of Hol
land, but divorced from her, account of adul
terry, after a union of nineteen years.
The house of Prussia has more extensive anC
more important family connections than almost any
other royal line in Europe, being nearly related to
the reigning houses of Great Britain, Russia, Hol
land, Bavaria, Austria, Saxony, Hanover, Baden
and other reigning families of minor power. The
Hohenzollern soveregns connected with the
house of Brunswick, on the English throne
not merely by the recent marriage of the young
Prince of Prussia with the Princess Royal Of Eng
land, but by earlier alliances than any other prince
ly line. The second King of Prussia, Frederick
William l., married to daughter of Georg
l., when George as yet only Elector of Hanover
After George ascendedth English throne, double
marriage between the Prince of Wales and tn,
Princess Wilhelmna of Prussia, and Prince Fred
erick, afterwards Frederick the Great and the
English Princess Amelia, who projected, and wa
on the of being concluded, when secret Austrian
Vaccinations interrupted and finally broke the goOC
understanding between the two sovereigns. Frede
rick the Great is said ever afterwards to have
deplored this; and he certainly had good reason
for his regrets, for the wife which his despotiC
father subsequently, provided him was all but ar
idiOt.-Boston Courier.