The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-11-28
BRITISH SHIP SALE
NOT YET ASSURED
Believed That England's Con.
sent to Big U. s. Deal Has
Not Been Granted.
STOCKS SOAR, THEN DROP
Varied Rumors Of Deal Send
Preferred Shares In
Is l-2 Points.
STOCKS SOAR, THEN DROP
Special D,spdfcs 10 THp suE.

Special DsspdfcA TO THp suE.
WARRINGTON. Nov. 27.-Commard.,
ing the eighty-nve ships OF the Intern.
tional Mercantile Marine COMPANY ;,
the Shipping Board for operation b. u,
Government Is likely II the deal undo.
which the Shipping Board Is to acoul,,
q controlling interest IN these vessels 3,
contaminated.
o6ncials here to-day refused 10 MIL
any statement az to the Governmr,
plane for these vessels or the n,,
gramme for their operation It4aknov,
however, that once they are under Chi
ping Board control they will be on.
ated by the board for an indear,.
period in the transatlantic seryk
! largely to bring troops home and tran.
port supplies to France.
It Is possible they ultimately may r,
released TO American shipping ntery,
for operation with a Government srr,
| on them, but It was made plain tod
that this Is a problem for future o.
alteration. When they are taken ovt
provided this occurs. they will b4 ovrs
and operated by the Government az
part Of the national transporatSs
0cheme
There was nothing on the surface he,
to-day to indicate the attitude Of Y,
British Government In regard To n,
| latest negotiations for the sale OF L,
| vessels. No protest against transfer &;
the majority interest In them held by I.
international Mercantile Marine to \
Shipping Board has been received 50 Il
as known. Approval OF the British Co.,
eminent Is a matter OF much speculate
here. For the present the vessels Of,
running as British ships.
To Extend Merchant Marine,
Bainbridgs Colby Of the shipp!rt
Board. who has had the whole mater
charge since Chairman Hurley sailed Z
Europe. would throw no further light
the situation since his formal announce
ment last night that the Goysrnne.
| would not approve sale OF the America
ships to British interests. and that
the other hand. the Shipping Board va,
ready to purchase this interest al .,
agreed price. Mr. Colby has been
close touch with the President and thsr.
can be no doubt of a decided Admin
tration stand on the Issue of permtt.n
the loss Of American interest In ,hsss
ships at a time when every poSebIi
measure Is to be used to extend Amer
can merchant marine to NEE: peace tn
needs.
The Government action IN connectio-
with the vessels is regarded as a natur
sequence TO tbs announced policy G
Chairman Hurley and other Adga!n,strs
ton representatives to extend the Ams-
can merchant marine to the rulles, sI
tent possible without injustice Q? niuI
to any OF the Allies.
Even before th's nation entered Il.
war consistent efforts had been mao.
by number of foreign Powers 10 secuf
American tonnage. Many camoufags.
purchase orders and orders for cons.ru:-
ton were offered American shipping COZ
Germs and shipbuilders. Every such pls
has been frustrated by the SNIppir
Board, which has refused to approve an
measure that would mean the passing
American tonnage to foreign fac.
FURRY in stock Market.
The announcement, by the Cn;e
States Shipping Board refusing to Pc;
NIT the sale OF the ships to a 5rts
syndicate and expressing q vlll.r7ass
to purchase the ships on eXa'-.y =
same terms offered by the British syr
dictate came as complete surprise nl
only TO Wall Street but 10 the memoA''
Of the Marine directorate themselves
| The shorts on the assumption tina, u
announcement meant the immediate cor
| clusion OF the deal. rushed 70 cover
the opening yesterday and there Ta
wild excitement around the Marine pcs
TNey had to pay for their rash ess J
going short OF this erratic Issue. toF r
| opening sales ranged from 20 e pom
above Tuesdays close. With re SUI
s'denee Of short covering there was
| eaction Of points. and t"ea -
bulllsh ammunition In the form ~ Dc
patch from Washington carried ~ o.
Of the new agencies which quoted a. !.
named official Of the shipping SoaTd a.
saying:
I'VE have reached a complete arre'
ment with the British GovernneT-
! stock climb. 20 1917.
Shortly thereafter the Mar'rs t!reo
tors went into session and ouil!sn e.
thusiasm knew no bounds. The etc
shot up to 119la, gain from the 'oW
more than II points and from ne
vious close OF more than 1914 points Ply
| presently reaction St In. The Fe.-
! lators were puzzled by the -".'" VI!
cryptic announcement from the board
| I'VE have been advised that ne 90.
| eminent is prepared 70 take over !,
ownership OF the vessels u7on t7- 'e'n
! OF the British offer. and tna -s--.-' 4
10 be worked out"
| They were further puzzled by -'e IA
that this statement made no r,s.. N
the question Of British corser- Nea'-
time there were persistent ruUors tA'
the United States GoVernme-t Hai a.
tuaIy taken over the vessels "-1s'rs'
| in the deal.
Tho next developmen, wss -.a io-'
| thrown around the statereU. Jt7-