Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1914-03-11
PROFIT IN WRECKS.
Sunken Ships Sometimes Yield
Very Rich Treasures.
Lucky Investment by Melbourne Firm
In French Bark Brought Concern
$4,000 for 81, S4o-Treasures
on British Coast.

London.-Another instance Of lucky
speculation in wrecks has been pro
vided, Melbourne firm having bought
a disabled ship for $3.50 and found
that it was worth 100000. The ship
was the Jean Bart, a French bark of
1881 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 filled, and it was soon
impossible to float her. For two
months she was In this condition, the
whole after part Of the ship being IN
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
]. Bell e Co., grain merchants of Mel
bourne, made a bid, and the wreck
was sold for $1,840. Some critics
laughed and remarked that they were
paying for hold full of water which
could not be raised. Messrs. Bell said
nothing, but engaged a diver to in
spect the vessel, and then the news
became known that the damage to the
bark was only slight. A hole little
more than 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 locked. The work was
successful. In spite of a strong gale
right ahead the vessel was towed by
a powerful tug to her destination and
now it is seen that the value of the
ship and cargo is over 100000. 1t 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-
tive 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-
tain every year." said marine bro
ker, there is large number of
wrecks which would yield large prof
It to any enterprising buyer provided
he had the necessary facilities to sell
or dispose of the property.
Some time ago a steamer was
wrecked off Yorkshire, and the buyer
was man who knew little about such
matters. but he bought the vessel for
about $1,000. 1t was not a big ship,
but she had a valuable cargo on board,
and it 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 it 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 it's immersion
The property sold for nearly $4,000.
There was another case a year or