OCR Text |
Show FORTUNES IN SHIPS. It is a great pity that more oceangoing ocean-going steamers were not owned in the United States when the European war broke out, for the profits of the navigation navi-gation companies have been enormous for the past two years. A glance at the prices 'that have bepn paid for vessels ves-sels when they changed owners during the second quarter of the present year will be sufficient to convince even the most casual reader that the munitions makers are not the only ones who are piling up great riches while the war in Europe goes merrily on. For instance, in-stance, the King, a vessel of TiiOO tons cargo capacity, was sold for $003,310, the ship having cost $1:23,800; the Knutsford, witli (j.jOO tons cargo capacity, ca-pacity, was sold in 1 Silo for $136,260, in February, 1!M0, for $3 79, ."So, and more recently for $ t Ho", (150. Among other sales of steamers are noted the Robert Dollar, SS0O tons cargo capacity, built in 1'Jll, sold in April, 1016, for $1 ,:Ui2,(i2n ; the Kirk-field, Kirk-field, SUM) tons, built the same, year, was sold about the same time for $778,-6-10; and the Bland Hall and Albert Hall, each S2,"0 tons, built in 3014, were sold during the past quarter for $87.3,-070 $87.3,-070 and $720,075, respectively. The Winnfield, HS'il) tons, built in 1001, was sold in 1907 for $108,f.2r; in April, 101.", for $!81,92r; in June, 1015, for $100,525; in December, 1015, for $274,-960; $274,-960; and in June, 1010, for $374,720, A sa iling vessel, the I'esca, net tonnage ton-nage 110."., was sold in 1912 for $0733, and within the last few weeks for $107,005; the sailer Fingal, 2135 net tons, which was sold in 1910 for $17,-03", $17,-03", and iu 1915 for $31,005, brought $214,125 in 1910; the Ouusyre, 2050 net tons, sold iu 1910 for $20,025, chanced hands during the past quarter at $139,1811; and the Kreden, 1020 tons, sold in 1908 for $23,115, brought $188,-1 575 in 1910. ! Some of these same vessels may be sold as junk within the next year or two, but before they are scrapped they will ha ve paid for t hemselves Severn I times over, and Ihose who now own them will be gainers instead of losers by having purchased them at fancy prh.es. The United States has been rapidly iiKrcasrin its tun.uagc v la'e and we are really in a better position to take care of our commerce than we havo been for many a long year. But we need many more ships flying the American flag in order to prevent foreign for-eign shipowners from discriminating against us in the matter of freight rates. Xo one knows just what is going to happen to trade when peace is restored, re-stored, but the business men of all com: I ries a rn pi c pa ring for the keenest keen-est kind of competition and their governments gov-ernments are co-operating to the full extent, of their ability. In one of his recent speeches, Mr. Hughes preacher! the doctrine of co-opera! ion. and we daresay a great majority of the people of the country fully endorse the views of 1 lie . Republican candidate for president. presi-dent. Mr. Hughes, like most other America n people, hasn 't any faith in the efficacy of the shipping bill recently recent-ly passed by congress after sore travail. At. the same time all hands and the ship's cook are praying for the restoration of the American merchant mer-chant marine, while regretting that we have not more ships on the ocean just 1 1 o w w h e n freight rates are s o high. |