The Panola weekly star. (Sardis, Miss.) 1882-18??, 1885-10-31
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Wasaisoros, y. G., October n. -Ths
report oi The Havsi board, constituted
pJ order Of Secretary whitney 10 exam.
ne the vofk and materials Of The On.
finished cruisers, Chicago, Boston and
Atlantis, and 10 ascertain The fair mArke.
value thereof, including a reasonable
margin Of proa, upon the work, has
been approved BY The Secretary and re.
fefred by him 70 the Naval Advisory
Hoard, which lattaf has been ordered
20 60 on with the work Of construction.
A full meeting OF the Advisory Board
has been called for today 10 consider
The report Of the Board OF Appraisal
The Board OF Appraisal in lts general re-
port, which Ia Introductory 10 the de-.
tailed reports upon the the three vessels,
satsi
The hoard would state that u considers
that the materials and workmanship, No far
~ can lie seen NJ this stage of the construe.
tlon, are good and answer the requirements
OF tho contracts, and considers by cxpond
Ing the money which the board intimates as
necessary 10 be- expended 20 make the yes
sells complete and up 10 the contract, that II
VIII have AT that timo vessels IN, in charao,
ter aud quality, TO the contract require
ncnts.
In their report upon tho Chicago, the
Board OF Appraisal saysi
The original contract price OF the Chicago
was stss,0p which was Increased In accord
ance With the provisions of the second
lause OF tho contract by authorized extras
| amounting TO ~, ,0gl, making total Of con.
ract price at this time $685. which, the
Hoard assumes, would represent the fair
market value OF this vessel, when completed
y accordance with the plans and spoclfica-
Hons OF the contract, including reasonable
and customary margin of profit The Board
estimates the cost OF material and labor, In.
Guiding the profit, necessary to complete
| this vessel, at 500, ,0iS, which being deducted
from the total contract price, leaves s1li, ,0i6.
which the Board declares TO be the fair
market value OF the work and materials be.
longing to this vessel. and the customary
margin OF profit upon so much OF the work
as had been satisfactorily performed at the
slime OF the forfeiture OF contract
In It's report upon the Atlanta, the
Board states the total contract IA sG6i,.
S9S, and that on expenditure OF il,g6i
will be required to 1plsh the hull. The
lattcr amount deducted from the con.
tract price, leaves sG20, SS7 as the fair
market value OF the vessel Ia Its present
condition. The total contract price OF
the Boston Is SCOOPS. II is estimated
that an expenditure OF $50, 1876 will be re-.
qulred to complete tho hull, which
amount deducted from the contract price
leaves s6l0,023 as the present value OF
OF the vessel.
In connection with tho foregoing re-
port, the following letter, written by
Secretary Whitney on the ith OF August
TO Mr.. Vanderpoel, counsel for John
Roach, Is furnished for publications
sm-At our interview thls morning I said I
would put In writing the course which ! In.
tended to pursue with reference to the hos.
ton, Atlanta and Chicag .embodylng my or.
peotations with reference to them. Ny
authority IL, OF course, limited by the terms
OF the contract. My view Of tho matter IL
that the present circumstances call upon
me to exercise fair business judgment with
regard TO the boats, and considered II
would be folly for the Government to take
such steps as are found TO be necessary 10
complete them In accordance with the terms
OF the contract and specifications When
the Inventories have been made and ap.
nfalHM been ma, contemplated by the
hat 1tract, see no reason TO doubt that my
rod ION will then be precisely what II would
Wnresent timc, namely, thnt under
sscue its propertyby avallmR itecii
ave Jnerms of the contract and carrying
on ,Drward 10 completion. In doingso, In
'"' huch as In the end II IL practically done
ut the expense OF tho contractor (Decausa
an accounting IN provided for at which the
balance OF profit or loss Ia struck for or
against, him should deem II entirely proper.
while keeping control and direction Of tha
| work, that " should be done In the yard OF
the contractor and with his force.
The plans are there the organization II
there, familiar with ships and the necessities
OF the Government are fully mot II an exact
Ing supervision Ia retained and control over
the fore IN retained, but the work ID con.
Quoted with the foremen and force which ihs
contrac'o yard Is able 20 supply. In this
way probably greater economy OF expendi
lures would be effected than In anyiothel
way. and the large force now out Of employ
mcnt would be able TO resume work. All thii
express informally Ms my Intention, which
| have no reason 20 suppose Will for AM
cause be changed. II, in fact. results from
the necessities OF tho situation aud Il III,
| only course which seems 20 me good sansl
and business Judgment dictate.
| ". G.. WHITNEY.
Secretary OF the Navy.
To A. J. yAsDERfOEL, ESQ, Counsel.