The Tulsa star. [volume] (Tulsa, Okla.) 1913-1921, 1914-03-07
PROFIT IN WRECKS
Sunken Ships Sometimes Yield
Very Rich Treasures.
Lucky Investment by Melbourne Firm
In French Bark Brought Concern
$4,000 for s., $1,s4o-Treasures
on British Coast.

London.-Another instance OF lucky
speculation in wrecks has been pro
vided. Melbourne firm having bought
disabled ship for s1.S40 and found
that 1t was worth 100000 The ship
was the Jean Bart, a French bark OF
1,9s1 tons net. and she was saved from
entire destruction and towed into har-
Dor after lying a battered wreck for
two months.
The bark was on 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. Her
hold quickly flied, and It was soon
impossible to float her. For two
months she was in this condition, the
whole after part of the ship being un-
der water. Her captain cabled to his
owners in France for orders and re-
ceived reply to the effect that she
should be sold at auction.
A number OF Australian firms sent
representatives to inspect the wreck.
but none OF them thought that It was
worth while to buy. 1t was confidently
stated that salvage was hopeless, but
J. Bell & Co. grain merchants of Mel
bourne, made bid. and the wreck
was sold for s1,S40. Some critics
laughed and remarked that they were
paying for a hold full of water which
could not be raised. Messrs. Bell said
nothing. but engaged n diver to IN
spect the vessel. and then the news
became known that the damage tc the
bark was only slight. A hole little
more than a foot in diameter had been
torn In the bows and the diver re-
ported that this could easily be re-
paired.
Work was begun at once, the water
was pumped out of the hold after the
hole had been plugged up, and after
the vessel was thus lightened she was
towed off and beached. After that
further repairs were carried out. so
that the ship could be brought to Mel
borne to be docked. The work was
successful. In spite of a strong gale
right ahead the vessel was towed by
powerful tug to her destination and
now II is seen that the value of the
ship and cargo is over 100000. II is
believed that before long the Jean
Bart will be sailing the sea again, for
she is very little damaged.
At Lloyds a newspaper representa-
dive was informed that though this is
regarded as one OF the plums OF the
business, there have been several sim
liar ones. Round the shores Of Bri-
,ain every year" said a marine bro
Ker there is a large number OF
wrecks which would yield large prof
i TO any enterprising buyer provided
ne had the necessary facilities to sell
or dispose of the property.
Some time ago steamer was
wrecked off Yorkshire, and the buyer
was man who knew little about such
matters. but he bought the vessel for
about sl.501 II was not a big ship,
Dut she had valuable cargo on board,
and II was feared that the bottom had
been ripped out of the ship and the
cargo lost. In the cargo was a large
number OF pictures. Few firms cared
to touch the business, and the under.
writer's let 1t go for the sum stated
But the ship was inspected and
raised, and then. to the surprise OF
everybody, the cargo was discovered
TO be little worse for its immersion
The property sold for nearly 1000
There was another case a year or
so ago of ship which was wrecked
with a valuable cargo on the coast OF
Africa. She was given up as hope.
less and sold for song. The new
owner took a sporting chance-know-
ing the value OF the cargo-of charter.
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