The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1916-09-07
Seen and Heard by George Miner.

connections and little money who could not
redeem lead nickel with a gold dollar would
be thin-brsined COOP.
The real facts about the money that is being
made out of steamships and steamship charters
sound like a fairy tale. The truth about it seems
incredible and too good to be true.
For instance, l know freight boat IAN ordi-
nary tramp steamer, that was built years
ago in Germany at expense of 100000. She
is operated by Danish firm of shipmasters who
own a large part of her and the rest is owned
in small lots by Danish investors.
That boat last year made $325ooo net profit,
more than twice what she cost
OF course, the last two years have been ex-
ceptionally profitable ones for shipowners but
even in ordinary times freight steamer is a
profitable investment, especially as they are con-
Quoted from the Scandinavian countries. 1t is
an old saying in the firm of c. K Hansen & Co.,
the largest shipping firm in Denmark, that a
boat that does not pay for itself in six years
is failure. She had better then be broken
up and scrapped.
You will see the Danish and Norwegian flag
flying in almost every port of the United States,
There is no end to the number Of their boats over
here doing local trade. All this is thanks to
the war.
While the American flag is not to be seen
other flags that never seen before are now
fluttering gaily the sterns OF ships that
should be floating the stars and stripes For in
stance, there are lot of boats flying the Hon
duras flag when a matter OF fact there is not
one single steamship owned in the whole republic
OF Honduras
The Honduras flag was absolutely unknown
on the seven seas I'll bet there is not one
American in a thousand that knows what the
Honduras flag is. 1t is almost the same as the
flag of several other small countries the only
difference being few little stars in the white
sector. So when these ifty-odd ships flying the
Honduras ensign romping along our coasts
shipping masters and maritime folk generally
thought they flying the colors of Greece
or at least of Argentina.
Even now, after the fleet has been operating
for six months that green-and-white flag makes
all sorts of confusion and misunderstanding at
and in port
Also the Cuban flag, which nobody ever saw
! except on cigar box, is now an everyday sight
to anybody moving around the West Indies and
the Gulf ports. or course none of the boats arc
really owned in Cuba. And nobody pretends
they arc, barring the five minutes when the I'M
derwriter is asking questions
It's much cheaper to register a boat under
the flag of Of these little gimcrack countries
than it is to be honest about it. 1t not only
saves taxes, but it relieves the owner of the
obligations of neutrality laws. A boat flying
the Honduras flag is exempt and immune from
the taxation and restrictions handicapping the
boats sailing under the American flag.
1t is only natural that a bank roll and fat
pocketbook should carry more weight with ship
ping firms than do nations emblem and ma
tional pride This war has made strange bed
in and bah
of bunting at masthcads
In Scandinavian countries, the owning OF
shares in ships is almost universal Instead OF
putting his few hundred kronen in a savings
bank or investing it in real estate govern
mcnt bonds, the thrifty Dane or Norwegian buys
few shares in steamship. Thrce-quarters OF
| all the tonnage of the Scandinavian countries is
owned in that way.
Since the war began, these small owners are
reapng dividends beyond their fondest dreams
The small shopowncrs and farmers and clerks
| in Denmark and Norway are getting rich hand
over fist. | know one master of frcichter
who few years ago was only foremost hand
but was wise enough so that he was given a
| masters ticket He did little blockade running
and cleaned up extra money on bonuses
His salary master is 500 a month Three
months ago, he brought over his savings for the
last year and deposited them in bank in New
York. They amount to more than 100000 He
now talks OF buying a ship of his own and be-
coming millionaire in the next year or two.
| also know an Italian lawyer who had some
capital and invested it in ships He has made
more than 100000 since the war started He
has a ship which he is willing to sell, as he
thinks he is rich enough now and is ready to
retire A friend of mine wanted to buy the ship
The boat cost about $4,000 a few years ago.
My friend offered him $25o,ooo The Italian
was lnsulted and ordered the woud-bc purchaser
on the ship. His first, last and all-the-time price
was $35o,ooo Take it or leave it.
Yes, no wonder Charlie Morse finds life more
entertaining than he did down in Atlanta