The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-09-28
Wreck Sailing
Is Profitable
Disabled Ship Bought for 1870
Worth $4,000 and Many Sim
liar Instances Occur.
Especial Dispatch.)

LONDON. Sept 81.
IN MOTHER instance Of lucky specula-
~ ton In wrecks, this time by Mel
bourne firm. has created a mild sem
.sation among underwriters here. dis
abled ship was bought for $3.50 and was
found to be worth 100000
The ship was the Jean Bart, a French
bark. OF 1881 tons net. Just towed into
harbor after lying battered wreck
for two months. She was built only
twelve months ago. and was on a
voyage from Antwerp to Wallaroo laden
with 5000 tons of pig iron and coke, when
she ran aground on waudang Island, in
Spencer Gulf. South Australia 1t was
confidently stated that salvage was hope
less. out Messrs. j. Bell s: Co., grain mer-
chants. OF Melbourne, made a bid. and
the wreck was sold to them for $3.50.
Some critics laughed, and remarked that
they were paying for hold full of water
which could not be raised But perseyer-
ance succeeded. and in addition TO reaJiz-
me s1o.oOo Messrs. Bell will have the Jean
Bart sailing the seas again. for sbo ia
very little damaged.
While members or Lloyds admitted 10
an interviewer that this s regarded as
ono OF the plums OF the business, there
nave been several similar ones
nouho the shores OF Britain every
year said the marine broker there n re-
a number of wrecks which would Weld q
iarse proilt to any enterprising buyer pro-
Viued nc had the necessary facilities 10
sell or dispose of the property. some
years ago a steamship was wrecked orr
yorkshire and the buyer was man who
knew little about such matters but he
4 n \ r.
was not big ship, but she had a valua bile
cargo on board and 1t was feared that the
bottom had been ripped out and the cargo
lost. In tho cargo was number OF
pictures. Few firms cared to touch the
business, and the underwriters let IL go
for the sum stated. But the ship was in
spected and raised. and then, to the SIR
prise OF everybody. the cargo was dis.
covered to be little the worse Tor its
immersion. The property sold for nearly
| $4,000.
There was another case year or SO
ago of ship which was wrecked with a
valuable cargo on, the coast of Africa
She was given up na hopeless and sold for
n song. The new owner took a sporting
chance, knowing the value OF the cargo, OF
chartering a ship and steaming out TO the
wreck He succeeded In raising her and
towed her to Gibraltar. Here the cable
parted and she was lost for two days, but
ultimately was found again and brought to
the Thames. That ship is still on the
seas under new name and the owner
made his fortune out of the deal.
Few people have any idea that there
are scores of wrecks lying around the
shores Of the United Kingdom. In some
cases they are entirely abandoned to any
one who cares to take the 'pickings,' but
in others they have been sold to local
firms for n small sum. Even the amount
of iron and wood in some hulls would
pay for the cost Of salvage. One easily
remembers the fate of the Oceana, which
went down off Folltstone; the Mahratta,
on the Goodwins. and the Preussen. From
tho Lizard one can see quite a number OF
wrecks on the coast line. and 1t has often
been suggested that IL these boats were
j, salved. systematically profitable bust
ness could be built UP in this way"