New-York tribune., 1921-10-30
~ stettin ........... 15.ooo,ooo 20
Weser Company -. 100000
Woking Capital of Yards
About $50, 100000 Marks


Woking Capital of Yards
About 230, 100000 Marks
The total working capital of the
twenty-six German yards engaged in
construction of ocean liners amounts to
230,000,000 marks. To this sum must
be added debentures and mortgages
amounting to 61,00o,0OO marks. In adj
dition many of the German companies
have other resources, entered on their
books under various ambiguous head
ings. Thus Blohm & Voss have the
sum Of 100000 marks entered as
Invested resources" and similar en-
tries of quite considerable sums are to
be found on the books of other COM
panies.
1t was not until this year that Ger
man yards began making deliveries on
large scale. At present there are
more than 100000 tons dead weight of
steamers ready for delivery on the Elbe
alone. Sixty-four vessels are embraced
in this tonnage, not more than five of
which are to be delivered to foreign
countries.
A considerable part of the earnings
Of German shipyards is obtained on for
eign repair work because Of the much
lower cost of labor and material in
Germany. A few figures comparing
costs in Germany and England will
with the United States can easily be
made at home by those familiar with
the present situation in the shipbuild-
ing industry in America:
Present Cost in England
ell to $40 Ton
According to information obtained
here from British shipping men, the
cost Of tonnage in England at the pres.
ent time is between Gil and $50 ton
Old steamers are sold at as low as be-
tween s5 and e6. Junk sells at as low
as 81 ton. A leading German ship
building yard announced recently il
would supply new tonnage at from 10
to 20 per cent below the British figure
All this concerns the cost OF material
From the point of view of labor cost
German yards have still greater ad-
vantage. Wages in British yards range
from 64s. Cd. for laborers to 84s. for
carpenters. The German rate TO,
skilled laborers is 213.60 marks week
hn hiph aof 70 kvr hn nv~4l (
German group Of the Federation OF
| German Metal Industries is 240 marks
week. In terms of English money
The German rate Is between ITS. and
1ss. Production in German yards has
increased over that before the war, de.
spite the reduction of hours from ten
! to eight day.
In addition to her advantages in the
| cost Of labor and material, Germany is
rapidly developing her shipbuildna
facilities, despite the loss of some Of
her important shipyards, such as those
in Danzig, by the Versailles Treaty
The two government yards at Kiel anc
Wilhelmshaven, which before and dur.
ing the war were devoted exclusively
to construction of naval vessels, have
been remodeled and are now working
exclusively on merchant shipping
These two yards are operated by tht
German Works, government-con.
trolled company. Many other private
yards which previously devoted much
of their space sand capacity to nava
construction are now busily engaged ir
| the reconstruction Of the German mer
chant marine. The establishment O.
the great German yard on the Elbe hal
enlarged greatly Germany's construc
tion facilities. The history Of thil
yard illustrates we'll how German in
dustry is operating and forging aheae
to-day under close concentration ans
interlocking Of interests. The yard
occupying an immense area opposite
Hamburg, was founded in 1916, but dis
not begin operations until after th'
war. The interests behind the enter
prise were the Hamburg American
Line, the A. e. G. (Allgemeine Elek