Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1916-04-22
auYlho OLD sHIPs.
Second Hand Vessels Commanding
Hish Prices IN England.

Second Hand Vessels Commanding
High Prices in England.
gLCorrespondenc OF Associated Press.
London, April 8.-The great scarcity
OF British tonnage Is reflected IN the
sabnormally high prices paid for secsnd
hand steamers. Today no Arm Of ship
builders can guarantee delivery of any
boat, and, in consequence, shipowners
desirious Of increasing their fleets, or
replacing vessels sunk by war risk, and
Ordinary marine risks, are compelled
to purchase second hand boats at rec
ord prices. vi
Quite recently, the Cunard Steam
ship Company bought three second
hand steamers having failed to find
builders able to quote for new tonnage,
and for these boats, 1t is stated the
Cunard company paid a higher rate,
per ton than they would have paid for
new vessels before the war. Naturally,
with such ready market for tonnage,
owners are wedding out their fleets
and in several instances recently boats
which have proved too costly to WORK
on a profitable basis have been sold
for prices far in excess of their original
cost. X.
One firm possessing three such
steamers sold the boats to French buy
ers, under license Of the British gov
eminent, for $4,000 pounds, and the
chairman of the company congratu-
lated the shareholders upon the sue
;cessful sale. THE boats have never
paid for themselves he declared, and
we have no objection to receiving IL
pounds per ton for them" A good
many English owners are not slow to
take advantage of the needs of the
French.
In France, as in England there is
famine in tonnage. Under certain con-
ditions, French owners are now per-
mitted to purchase steamers from Eng
lish owners. q
At one sale held recently, German
steamer. which had been captured by
British warship and condemned in the
prize court was offered. It was ad-
mitted by the auctioneer that certain
overhauling would have to be done be-
fore she would be allowed to proceed
to sea. The boat was originally pur
chased in the prize court for under
5000 pounds and for nearly fourteen
months had been running under, char
ter of the British admiralty, proving
remunerative craft for her owners. The
government, probably in view of the
repairs needed, had no further use for
the vessel nor apparently had tho
owners. 81 &s Il ~, .-.,,--
The sale was duly advertised and it
was whispered that French buyers
were likely to bid. The first offer was
one of 5000 pounds for the steamer
and the bidding rose rapidly in thou
sands, when it was discovered that
French buyers were actually in the
market. At 10000 pounds the boat was
knocked down to the Frenchmen. *
Prices averaging IS to % pounds per
ton have been the rule of the sales
which have been negotiated privately
this year. altho rs pounds and 10 shil-
iings per ton was paid for the steamer
Tello built in 1907, and with dead
weight capacity of 1900 tons. The pur-
chase price for this boat was 4S500
pounds yet only few months previ-
ously she was sold for 2s,700 pounds.
The steamer Anglo-Californian Of
10.500 tons dead weight capacity and
which was built at Sunderland in 1912
at cost of 100000 pounds has recently
changed hands for 215.000 pounds
while another boat the Haboe, sold last
year for, $1,000 pounds which was then
considered big price. has now been.
resold for 114,000 pounds. n
Costing 10000 pounds to build In
1909, the Harlesden. steamer Of 1850
tons has just been bought for 10000
pounds. Sold in 1914 for 5000 pounds
the Olavarria has again changed hands
as much as 1880 pounds being paid
for her last month. She Is a boat Of
$3.50 tons dead weight built at Sunder-
land in 1883. 3, ~ Il