The Washington times., 1915-02-18
W. G. SickeI, Vice Director Of
Hamburg.American Line,
Goes Before Committee.
COMPANY NOT IS PRESSED
Only Nine Vessels For Sale,
Official DecIares-No Offers
From Government.

". q. sickel. one of the two American
vice directors Of the Hamburg-American
Company. today told the special Senate
Committee on Ship Purchase Questions,
that the company was in no embarrass-
ment financially as the result Of the
war, that it had but nine vessels out
Of its fleet Of forty for sale. and that
these were not for sale in consequence
Of the war, and that he was advised
from his "chieftain" in Germany that
the company was "in position to STAND
our troubles five years"
Mr.. Sickel denied that New York
financial interests had made big loan
to his company. He said that early IN
the war q loan Of $2.5OO,OOo was sought
Of Kuhn, Loeb & Co. 1t was refused.
but on advice Of Kuhn. Loeb & Co.. an
effort was made to get a loan from the
Hanover National Bank. Nothing came
Of the negotiations and in the end. Mr..
sickel said. 100000 was borrowed from
an individual. He gave the name Of the
individual privately to Senator Burton.
No Offer From Government.
He declared that Of the many offers
to buy ships. amounting to 100 or more,
none had come from any person rep
resenting the Government SO far as he
was aware.
The inquiry went on today with con-
slant clashing between Senators Reed
ana Burton concerning relevancy of
questions. Senator Reed, who is cham.
pioning the ship purchase bill, has set
ton 10 disposed to make 1t a broad one
and consequently the difRculty.
Mr.. Sickel protested that a question
asked by Senator Burton as to fluctua-
tions In ship prices since the war broke
out was outside the scope Of the inquiry,
but said he would answer it. Senator
Reed objected to the question. but Chair
man Walsh did not sustain the objection,
Senator Walsh took the position, how
ever. that in view of the delicate inter-
national situation no unnecessary oues-
IONS OF a sort which would embarrass
the company In a business way. and
were not relevant should be asked.
Mr.. Sickel did not wish to give the
names of ships which his company had
for sale. He said they were the smaller
and older vessels. He said the fleet of
Caribbean waters consisted Of forty yes
vels Of gross tonnage Of 332,356. The
company was willing to sell nine yes
sells OF 30.125 tons. This was about 9
per cent of the total tonnage, and about
3 per cent OF the money value OF the
vessels tied up.
Rest Not For Sale.
Tho rest are not for SALE" declared
sickel.
At an earlier date. he said, twenty
ships of about 100000 tons were for
sale. He was asked why the change
OF attitude. He answered.:
I'VE don't need the money. Every
advice which comes to US is that we
are fortified to suffer under our dis.
abilities for a long time to come W.
don't wish to be found at the close OF
the war In the position Of a STEAMSHIP
company without tonnage"
He insisted II the war were over the
same ships would be for sale as now
at q fair price.
Mr.. Sickel said the early movemen,
to sell twenty ships was initiated on this
side. and It was abandoned on instruc.
ttons from the home office.
He was asked by Senator Burton vii,
he went to Kuhn. Loeb & Co. to get :
loan. He explained that it was because
Of the fact Felix Warburg. one of the
directors OF Kuhn. Loeb & Co., is a
brother Of Max Warburg, one OF thu
directors Of the Hamburg Americar
company in Hamburg.