Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1919-07-14

SharptOwn Million Dollar Enter
prise Was Left Ii The Lurrh
When Peace Came
lEND CANE SUDDENLY

ne St&KpA0WM E1KK6kssHNuAA4 OF 6ttsa
wlc0anic0 News tells an interesting
story IN great hip-hullding enter
prise started during the war and
Epronlislng much % the commercial life
81 fhe section. but coming To an nm
timely end with the signing og the
EarnIstice. He writes
Resting peacefully on the banks Of
1.-THE Nantie0ke River ii this town Is
the remains a one Of the iargeat en-
lterprises ever started On the Eastern
Shore of Maryland, and one which for
d while gave evidence Of being great
constructive shipbniIding plant where
hundreds OF men would find employ
ment for many years to come. For
more than twenty Ave years. there
has been d small railway operated In
this community known az the Sharp
town Railway and It was at this place
4 that many boats and sailing vessels
Ehaa been constructed and here the
4 nrst of the new type Oh rams ever built
gm the United States were nodded into
shape. The yard was never consider
led 4 large business enterprise. bur
the location was noted rs being one
of the best on the Atlantic Coast for
the construction Of wooden ships, and
Imany proud vessel was constructed
] BY competent hands Ia this old yard
which sailed around the world many
times. and found their way into many
OF the Out-of-the way places on the
globe.
Shortly after the United States en-
tered the war, a company Of New York
and boston capitalists came to this
lSown and bought the old SharptoWn
I Marine Railway, and started In to
lbuiid an up-to-date shipbnilding plant
After purchasing the site of the old
Marine Railway. acres after acres OF
i land was purchased and added til the
site, wharves we're built, the old ways
torn out, and provisions made for the
flaying Of keels for big boats and
dozens Of tug boats for the Govern
ment, and within few weeks. an ac-
ltiyity was noted here which put new
life In this town Hundreds OF thou-
sands Of dollars worth OF contracts
were made with the Emergency Fleet
Corporation and with private con-
lstructors for the building Of ali kinds
lof wooden boats from mammoth four
masted schooners to big ocean going
tug boats. and within few months,
Hundreds of feet of wharyes had been
lcompleted and new plant construct
led which was considered the most
smodern and complete og any plant on
the Atlantic Coast where wooden ships
were constructed
Railroads we're built within the
yards for the transportation Of tim
bers and materials and complete
Electrically driven plant was soon in
process Of operation Men who had
I'heen In the habit of handling big pro-
jects were brought here and placed ii
command OF the work, and hotels and
boarding houses opened up for the Iiv-
ling quarters OF the big force. and an
lofice-outft III which dozens OF EN-
lployees were bnsiIy AZ work each hour
| in the day opened for the transaction
of this big enterprise. It Is said at
one time the Eastern Shore ShfpbulId-
ing Cooperation had on its books con
tracts for $1,000 900 og ships md tug
boats. More than three hundred men
worked Iii the yard and the Company
had d pay roll exceeding $4,000
weekly Things looked good for
Sharptown, and everybody had hns:-
tile on them such as the town never
before had seen, and there appeared
Ito be no limit TO the amount Of work
or the expenditure Of money en- this
big enterprise
Then all at once, came the deluge,
and for more than three months there
was not the sound Of hammer or
bthe twang Of saw to be heard within
this great slnipbuiIding enterprise
The whole thing was silent and de-
serted. and where once men were
learning from seven t6 ten dollars per
tday, working on Government con-
tracts, there was not to be seen not
Esingle solitary workman Or sound Of
Eactivity. The bubble had burst. and
1.-THE Eastern shore Shipbnilding Cor
poration found itself Ia the hands Of
1.-THE receiver with bankruptcy proceed
ings instituted against Il
Then came the examination Of its
ACCOUNTS and 1t Is said that the Com
pamy had Indebtedness Of over mil
Ilf0n dollars piIed mp within period
Of about twelve menths and that there
were probably assets Of not more than
I ten per cent. with which % pay this
enormous sum 81 money New York
bankers had for the most part fur
snfshed the. funds for this big opera
ton, and these institutions will be he
biggest losers In the bursting 81 the
bubble The signing 81 the arrnistics
4 WAS the real death hl0w 20 this big
enterprise; and Notwithstanding the
fact that this large Indebtedness had
been piled up III this short time. there
has been no suggestion o. dishonesty
on the part Of those who had the man
agenene OF the big operation. Il IS
Isaid that IA reality. thsre vas practi-
81 $50 *.