The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1916-01-21
has been requisitioned by the Brit

has been requisitioned by the Brit
ish admiralty.
Quite recently boat built fifteen
years ago at a cost Of 10000 pounds
was sold for $4,000 pounds. 1t was
estimated that at the existing high
freight rates substantial profit
would be realized which warranted
the heavy capital expenditure which
would more than counter-balance the
depreciation in values which is bound
to come. ,
Immediately the vessel was trans
ferred to It's new owners and impor-
tant charters were fixed, notice OF
/ reuuisition was served, and the pur-
chasers of the boat found themselves
saddled with heavily increased
capital expenditure and only the as
surance of bare margin of profit
on their expenditure. Shlpowners
are assured that vessels will be re-
leased as soon as possible, at the mo-
ment there seems very little prospect
of any substantial number Of vessels
being released. On the other hand.
day by day more steamers are being
required by the admiralty.
Not Enough Ships.
British owners in consequence, do
not view the future with any degree
of comfort. They have peen urged
to make every effort to capture Ger
man trade, but owing to the impos-
sibility of obtaining delivery of ships
which have been building since the
outbreak of the war; inability Of the
shipbuilders to contract for new YES
sells, and the decided shortage of ton
mage which Mr.. Runciman, the pres
ident of the British board Of trade,
admitted by saying there are not
enough ships to go around" they
contend that neutral shtpowners are
in a better position than are the Brit
ish to capture trade Of Germany and
Austria.
While this shortage exists, and
working costs have enormously in
creased, neutral shipowners are able
to step in and obtain the trade which
F, the British owner had planned to cap
ture.
Notwithstanding such setbacks,
however there is no evidence Of any
weakening in values, and sales Of YES
sells which have been transacted dur
ing the last few weeks of 1915 prove
the market to be as strong as ever
which indicates that prices may soar
still higher in 1916.
During the year over 900 British
steamers have changed hands and
prices have ranged as widely as from
three pounds per gross ton up to as
much as forty-two pounds.
AS an instance Of the rapidity with
which values increased, the case Of
the steamer Saint Fillans may be cit
ed This boat, which was built in
1900 was purchased for. $4,000
pounds in December, and early in the
following February 1t was announc-
ed that it had been resold for 1000
pounds. 1t Is steamer Of $500 tons
gross.
Sensational Sale.
Another sensational sale was that
of the steamer Dorothea, ship of
2,O35 gross tons, built in 1903. In
July, 1914, the boat ran ashore and
become tota lwreck. It was pun
fears were entertained that 1t would
become a total wreck. 1t was pur-
chased as wreck for the modest
sum OF $40 pounds. It was found
possible to float the craft and after
repairs had been executed the ship
changed hands last February for no
less a sum than $4,000 pounds.
Perhaps the record Of sales is seen
in the case of the steamship, Winni-
field, boat of 3,433 gross tonnage,
built In 1901. This ship was first
sold in 1907 for $4,000 pounds. re.
sold in May 1915 for $4,000 pounds,
In June, 1915. for 41,000 pounds and
in December, 1915, for $4,000,
each sale representing substantial
profit upon her cost.