The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-03-01
ALL OBSTACLES OVERCOME.
United States Shipbuilding COMPANY
Able to Guard Against Delay.
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t%Olo ~ ouaIu NSa DC'e
NEW YORK, Feb 2s-The report OF
a dmiral Bowles as to the causes OF de-
lay in the building Of men-of-war, has
excited great interest. Leading ship
builders congratulate themselves that
they have done as we'll as they have.
During the past two years the disadyan-
tages Of building has been largely In tho
matter OF Increased cost to contractors,
and they should certainly be entitled to
the benefit OF every doubt in their plucky
fight against odds. A striking instance
Of meeting obstructive conditions was
shown in the formation of the United
States Shipbulding Company, corpora
ton which seems to have absorbed the
factors necessary to make It independent
of many Of tho causes which bring about
delay In ship construction, a company
controlling thu manufacture offsteel forg-
| lngs, cast steel, brass and bronze
! gus, urlnor, proJectiles, wndlasses and
| winches has advantages over plants
which must buy them and such advan-
tagcs were secured whom the United
States shlpbu!ldng Company was organ
| ICED. tt.}ps III
This company has attracted public at
| tention here In remarkable degree, and
it's claims were carefully weighed when
first made. 1t started with about fifty
millions of contracts and though millions
OF work have been delivered the volume
is In excess Of what Is was six months
! ago. It Is the only company IN tho
| world capable OF building a complete bat
tleshlp, armed and armored ready to give
! battle, and the organization Ia now SUCH
| that work Is specialized, each yard work
| Ing upon the particular product It IS
best capable Of producing,
1t Is rumored here that the United
States steel Corporation Is behind this
company, Certainly It Is known that
| the stockholders OF tho former have an
enormous holding In the shpbuiding
company, SO that II the latter needs any
steel 1t is in a position to get IT; and as
every alliance seems to have been made
that would reduce time and cost of build
Ing. this company Is IN position to com,
mand much OF the patronage OF the In
ternatlonal Mercantile Marine COMPANY,
a fnancler, ono Of the most conservn-
tive men on the street. sRid;"Of all the
!ndustrials do not know Of one which
has greater prospects and possibilities
than the United States Shipbulldlng Com.
pany, Its securities are q purchase, es-
peoially it's bonds, They are five per
cent, first mortgage gold bonds secured
ny tho property u!u Ilu'AlS' AAu'N'o1o''
~ these shipyards have records as large
money earners, and collectively they will
ERECT saving which Will make their OPP
Grating charges almost inconslderablS
The Bethlehem Steel Works Is we'll known
ais one OF the great est steel properties IN
the United States, II not In the world
and their earnings alone should take care
Of all tho fixed charges,
"There seems to be plenty OF work TO-
day In tia United States for Rll the ship"
yards and, aA the turn OF the tide has
come In this great industry, there Is cer'
tain to ba an active demand for shpyards
seeurites throughout the country, the
large volume Of contracts IN hand ex>
tending over several years, make hem
'dafe, against depyssalonz Or panieky
.yaoYemsa tss js 3 g4s