The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-06-07
WILL ORGANIZE
NEW CORPORATION
SAVANNAH DREDGING CO,
WILL BE FORMED BY SMART,
KEHoE AND HERMAN.

Formation of Company Became
known Yesterday Morning When
Two Dredges Were Bought in by
IL. p. smart-Price Paid Was $2O,-
60O-DredRe Rough Rider Brought
$I6,1OO-New Company VIII Begin
cured.
With the buying in of the two
dredges, John Babcock, and the
Rough Rider yesterday morning, the
fact of the formation of a dredging
company in Savannah came out.
The two dredges were offered for sale
by Deputy United States Marshal
Jos. F. Doyle. The price paid was S2O,600.
They were bought in by Mr.. Warn for
Mr.. H. P. Smart. The bidding for the
dredge Rough Rider was particular
ly spirited.
Immediately after the two boats had
been knocked down by Marshal Doyle
the rumor began circulating that a
dredging company had been formed,
the partners being Mr.. H. P. Smart,
Mr.. William Kehoe, and Mr.. S. Her
man. Though this rumor has been
verified, none of the details of the
proposed company could be secured.
Mr.. Smart could not be located last
night, and Mr.. Herman declined to
discuss the matter at any length.
No company has been formed as
yet, but, of course, / can not say what
may be done in a short time" said
It'll. Int
in by Mr.. Smart and why he did it
YOU must learn from him. Before
any further steps can be taken, the
sale of the boats must be confirmed.
Developments may turn up then, but
hardly before that time. No COM
pany has been formed as yet.
TO Begin Work at Once.
Eyes, the rumor is correct. or GER
tainly very near it," said Mr.. KehOe.
1.-The two boats were bought for that
purpose. When the company will be
formally formed l do not know, as that
is a matter that is as yet undecided.
Work will probably begin just as soon
as a contract for doing dredging work
can be made
The two boats which were bought
in are modern in every particular, es-
pecially the dredge Rough Rider. They
were formerly the property of the En-
pire Dredging Company a corporation
of West Virginia. The boats were sold
for debts contracted for supplies, fur
nishings, fittings, etc.
Bidding Was Very Spirited.
Deputy Marshal Doyle conducted the
sale like a veteran auctioneer. At IL
o'clock the order for sale was read from
the President street entrance to the
postotfice. The dredge John Babcock
no., ,ha AFsut Il ma. a
was $500 and from that figure the
price rose steadily to $4,000. when il
was knocked down to Mr.. Warn, who
announced that he was bidding for Mr.,
Smart.
The dredge Rough Rider was irlme-
diately put up and a bid of $1,000
promptly made by Mr.. Warn. In jumps
of $50 each the price then slowly rose
10 $4,000 and at this point the develop
ments began. Mr.. Allen Bond, when
the $4,000 bid was made, bid $4,000.
Lively Bidding Begins.
The bid had scarcely been made
when Mr.. Warn bid S., 100. His bid
was followed an instant later by a bid
of 5000 from a representative of the
Sanford Ross Company. After that
the bidding jumped, by bids of 800
each, bids being offered almost before
the marshal could call out the last bid
offered.
In this manner the price of the boat
went rapidly up to $4,000, that figure
being bid by the Sanford Ross Com
pany man. Mr.. Warn promptly went
him 800 better. There were no further
bids. and at SIG, 100 the dredge was
knocked down to Mr.. Warn, still bidding
for MIR. Smart.
United States Marshal George White,
who was present. complimented Mr..
Doyle on the efficient manner in which
he had conducted it and said that it
was one of the best conducted and
liveliest sales that he had witnessed
since his connection with the govern
ment.
Ten per cent. of the sale price was
paid Deputy Marshal Doyle at once and
the remainder will be paid within a
few days.