The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-08-06

less than 100 per cent to first cost, and
then sold to the Nation. Therefore, II the
purchase price of vessels bought by both
war and navy departments be divided by
two, fairly correct approximate OF specu-
lators profits may be obtained. There were
great many more vessels bought than
the ones l mentioned last week. the ones
now offered for sale. Some of them are
as follows: Edward Luckenbach sold the
Southey to the government for 100000;
divide by two profit, $4,000. Mrs. Mary
A. Lewis parted with the Stranger for
SIS 900; the acquisition to her bank ac-
count by the deal ought to have been $751;
800. Perhaps, however, the chivalrous ad-
ministration took advantage Of her sex to
scale down the price. The Yorktown.
now the Resolute, was sold by the Old
Dominion Steamship company for s475,00O:
at least 100000 of this was velvet" ].
D. Spreckles, Bros. & Co. let the admins
tration have the Fearless, now known as
the Iroquois. for s150,000; put one half OF
this sum to the profit account of the
Spreckles and you get fair estimate of
the cost
Thirty three days after war was de-
clared H. NJ. Hanna. Senator Hanna's
brother, closed contract with the gov
eminent whereby he transferred to 1t his /.
brothers yacht, the Comanche, appro- /
priately rechristened the Frolic, and re- I
ceived government draft for Sis 900. /
Nautical experts avow that the Com I
anche never cost as much as $50, 900. The
Thomas Mexican estate was in such high
favor with the war gang that 1t had no
trouble In dsposing of the Dorothea to
he government for s1s7,5OO. According
to the scale OF division between the actual
cost and war prices, as shown by the navy
departments figures, the estate surely
netted $4,000 on the trade. Richard Stew
ems sold the Aileen for $3.50 His profit
was more modest in size, but comparative
~ as great as that of others who had
more expensive vessels. 7. A. B. Widener,
at the outbreak Of hostilities, was the
owner of the Josephine. The government
bought 1t from him for s1500OO. It was
rechrlstened the Vixen. and would bring
u day, no doubt about 100000 Because,
doubtless, of the hot price paid some 'wag
in the navy department had 1t renamed
he Hornet, and 1t is still singing its
way through the fleet of shop worn c
auxiliary war craft, while its owner has s
long since sailed down the handsome prof {
It's accruing to him from the transaction 1
]. II. Ladew was pair $685. 900 for the Co.
umbia, now the Wasp AS patriot, he s
lid not think of taking more than $50, 900 q
profit from the Nation. And the Stand t
ara OIL company got in on the ship car c
llvai. too. 1t sold to the navy the Atlas,
low the Wampatuck. All that it asked for I
ler was $4,000 When 1t is considered .
nat this great monopoly could have de- q
handed and received at least 500 600 for a
his vessel, easily worth $4,000, its phil 4
anthropic forbearance stands out con-
plcuously. Its two water boats" under !,
'harter at this time by the war depart D
nent, were also bringing 1t In only $500 i
lay! These same water boats" were put a
o splendid use. One of them was sent Q
rom New York to Key West early In the p
var full of water The previous cargo In
ne tank was petroleum. No effort had N
,een made to clean 1t out Result: When "
he water got to Key West 1t was neither IL
.a'atable nor fit for use In ships boilers s.
nat cargo OF water cost the government u u
ot less than $4,000. 1t is a sample OF how Ii
he war department transacted business al
through the quartermaster, at that time 81
ontrolled In transportation avenues by al
'olonel Hecker. Secretary Ayers Mlcht- te
an partner and sharer in his syndicate n,
calls. " y,
~ n
High prices were paid for many shipa ~
which the margin OF profit was not as W
lrge as In some Of the instances quoted, y
ecause the superiority of the vessels over o,
ne class listed for sale is so noted that p,
'hpaflson can not be made. j. Pierpont ii
lorgan sold the Corsair, now the plucky az a,
ioucester, for s225,oOO. Perhaps this was to
ne OF the best bargains made during the ~ ~
ar The Gloucester performed every I'll
srvics required and cost little to repair: CO
'mething which can not be said of one
'urth OF the auxiliary feet. The Boston
owpoat company induced the navy de-