New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-27
neal Not Yet Closed, but
Government Is Certain 10
Put the Purchase Through
# Is Wilson's Own ldca
Gives Him One More Card tn
Play in His Plan to Win
England to World League
By Theodore NJ. Knappen

ihe delicate international relations IN
,olved. it has not been permiss ible for
che press to say much about the practi-
ally consummatcd purchase of the
British registered ships OF the Ameri
an International Marine by the United
States Shipping Board.
IN view. however, of certain recent
uuSlications. il is now deemed timely
/, state that the price fer the ships
rroper. which has been variously stated
., ssO,Oo0OoO to S135, 900, 900, is actual
e less than s7O,00o,000 In fact. the
price is 50 low as to constitute one of
4Ss mysteries Of thc transaction. in
g;sv o. the fancy prizes shipping is
row bringing.
In smother respect the great ship
n;ng deal IS one Of the anomalies of
history There may have been isolated
cases Of a vessel owned by one govern
nsn. flying the flag Of another, but
never has government purchased ?
vhoe feet under foreign flag. with
10 provision for removing il there
rom. 1t is conceded that the oightr-
I've vessels involved viii continue to
Ay the British flag indefinitely and be
subject in all respects to British ad-
riraity avs.
British Not Complaining
Although the transaction viii result
n the United States government be
coming the owner of the cream OF til e
mercantile feet under the British flag,
there have been 10 negotiations what
ever between the two governments on
this delicate subject. as was quite
correctly stated by The rribune's Lon
dOa correspondent this morning. The
United States government sees no oc-
esson for negotiations, and though
the British axe naturally regret I
ever TIE deal they have nothing to
COMPLAIN OF. Tor the ownership OF the
g:eat feet is merely passing from the
lands Of one American owner, the In
arnatonal Mercantile Marine Com
Slipping Board.
The conflicting statements and
opinions regarding The financial facts
Of the remarkable transaction are thar
ever since the war began the Inter
national Mercantile Marine has had all
rs earnings OF its subsidiary COM
Ysnies held up by the British govern
ment, and hence no distribution OF
dividends en- account OF their earnings
las been possible
The amount OF these funds now re-
tsned in London Is about sos 0O0, 0O0
As the transaction involves rot only
lie ships. but all the assets OF the com
Yanies owning them, 1t is evident that
the ships themselves Will not cost
much, il any, oyer COCO .0Q0. A
here are eiehty-live ships in the eet
VIII { dcadWeight tonnage OF SZo COZ
,as makes Inc price L ,on less thar
~ winch l. an 2faGz.ng p~ice in view
ofthe fact 1aag = y costing tne lnrec
cI1ds IS 1clcA as 80 & tcn 10 build
sana OF It's Ne1 Srlr1-
afaNy Great Lines III Flee:
Nos only tAac- b.. INC .uGeI IN the
Gee. are many ii INC Drccucs. oce2.
liners Ihat q the British fiag, sucr
is the Olympic and A1rist.c. ships OF
elgss WI ch rs VI. It would cost
Is muca Is $500 ton % build n this
country; anc aEG-l ths deac"elgh'
ro..isse o. ISSssl IS % '--S ny - Wy
,1ii! 80 l-'' -,
80 - 80 ~. , 1-.~' pai'1 ~
les - cs,.n ! 49, dead,r. -,
csnsc;+7. o
Ths-a ,.,.e.s.,., ~ ~ ,o~,1-,
- ~ corS..on o. ~, 1891
49, 80. ~ = ~ 80, - - 90 seiis,
&c.,. - w.. CO ~ =
49, g*e's ,f se':a 49,, -
-. s.ieS = 80 '0'-' az =
ae ~, ' :,-t.roa x,,
.Aorir,- 4to+ ~ fo. ~
sSais 20. '1e lespeAs iD't''t los .''Y
e;0 - e e
Of the ~ rraniilf. Sa.t Tviny the tiae
q another sovereign government, an(
beng willing 20 lake all the chance.
nat May attach 60 the la1ter4s sorer
elsnry, rests with President " lison- /
IA he WHO Instructed the Shipping
board to refuse is assert 80 the rrO
2'sed sale OF the 81 qs 70 an Eaglls-
'yadlcate. 2rG was ne who pro
.cSed 10 the international -dercantllr
Nnfougn the Shipping Board, thar in'
soted states would take over tAc pro
s'sed cea., If agreeable TO the inter
1s|oA&l AercahUle Marine
Company Tied Up
II u stated that tho 1owness Of fix
price is due "a the Tsc+ that tine Inter
national Mercantile Marine has beer
more tightly lied down ia INC stric
letter OF British var-tjlne regulation,
than anv ofher corrorstioo and In.
had its earni,,y, ,,,;thh.Id IN y,ondon
s;areholdors and directors have becom,
british syndicate, at the instance o
The British government, offered to bu,
,Ae subsidiary companies, even at
low price, the prospect of Getting al
SyaSn and rid Of host of trouble
looked too good to be rejected.
Neyofiations Gaming Later