The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-11-23

all that he uses them in all his bust
ness transactions.
When a young man Mr.. Morgan
had an uncle on his fathers side who
wrote E. D. before the family name.
In his will this relative left about $5,-
100000 to his nephew Alta, if he would
agree to change his name to that of
the dead man. And Mr.. Morgan, not
fancying the idea of letting a snug
fortune slip through his fingers be-
cause of a name, promptly made him
self known as E. D. Morgan.
From his father Mr.. Morgan in
herited about $30,OO0,O00, and he has
multiplied the $35, OO0,O 900 nest egg I'M
til he is conservatively estimated to
be worth 500, 1000, 000
Mr.. Morgan has managed several
international yachting contests, and
now, while not taking so.active a part
as formerly he is in an advisory ca
pacity to the committee having the
new cup defender In charge.
The members of this committee are
by no means poor men-or even
poor millionaires. Look at the esti-
mate of their fortunes. made by a
at these things:
c. Oliver Iselin, banker and man
aging owner of the new defender,
$7,O00,00O; Judge Ebert H. Gary, &c.,
100000; Clement A. Griscom, S5.000,-
900; w. 3. Leeds. 100000: Norman
B. Ream, $4,000, 900; Henry Walters,
S4,000,000; P. A. E. Widener, 5,000,-
000; William Rockefeller, sIO0, 900 900,
and ]. ]. Hill-well, anywhere from
s25, OOO,O 900, to $75.OOO.OOO.
These estimated fortunes aggregate
$221, 100000 taking the highest figure
after Mr.. Hills name. The annual
income of this at per cent. would be
$t3,260,000 of which 1925. 900, the total
probable cost of defending the cup,
forms about one-flfty- part.
IF the Atlantic Ocean is ever to he
crossed in three days-and many there
are who think such a record is not far
in the future-oil will have to be the
fuel employed" said a prominent off,
cial in one of the big steamship COM
panies yesterday.
Then he proceeded to explain this
statement:
THE general public does not I'M
derstand the reasons why we do not
cross the ocean in quicker time. 1t is
not because we cannot devise machin-
cry capable of pushing our vessels
much more rapidly, but because we
cannot profitably carry coal enough
to run such high power machines. Nor
is this due to the cost of the coal.
That has little or nothing to do with
it. 1t is due to the value of the space
which the coal takes up. 1t is because
locomotives can be coaled, if necessary,
at every stop and are. therefore, not
fnrCod 10 civ or n 90 -
rying great qualities of fuel that they
can be run at sixty miles at hour.
Such speed would be utterly out of the
question if they were obliged to start
with enough fuel to keep them going
for 5000 miles. which is little less
than the average length of the trans
Atlantic trip.
Even If ships Of tonnage suffi-
Gent to carry such vast quantities of
fuel were practical of construction,
they would not be practical of naviga-
ton, for the harbors of the world have
not entrances sufficiently deep to adj
init ships of such great draught as
would be necessary to carry cargoes
so tremendous as this great fuel sup
ply would make when added to the
tonnage of enough merchandise to
make the voyages profitable.
For this reason alone the big
OMilGIS iOlS ago EGdilZeQ
that before any great additions to
transatlantic speed were possible, it
would be necessary to find some new
means of generating force. Electricity
was considered and quickly abandon
ed Then came the possibility of using
a lighter, or more compact, fuel. Pc
troleum at once suggested itself to
the mind of Clement A. Griscom, but
it was quickly realized that if it proved
practical on one liner other lines would
take it up and the worlds supply then
in sight would quickly be exhausted,
or so increased in price as to make
its use impracticable. But this situa-
ton has been wholly changed by the
discovery of new oil fields in Texas,
California and Russia, and at last Mr..
Griscom's dream is being realized. for
ocean-going vessels are carrying on
numerous experiments with oil as a
fuel with more or less success. And
] predict that, If the measure of sue
cess already attained keeps up for a
few years more. at the end OF that
time we will have great liners. using
only petroleum as fuel, leaplng across
the Atlantic in three days"
After a great deal of hard thinking
on the subject ever since the an
nouncement that Mrs. Humphrey
Wards first play Ga dramatization OF
her novel, Eleanor had been fall