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Show FORTUNES ARE FOUND IN WRECKED BOATS Another instance of lucky speculation specu-lation in wrecks has been provided, a Melbourne firm having bought a disabled ship for $1,840 and found that It was worth $60,000. The ship was the Jean Bart, a French bark of 1,981 tons net, and she has just been saved from entire destruction de-struction and has been towod into harbor after lying a battered wreck for two months. The bark was on a voyage from Antwerp to Wallaroo, laden with 3.000 tons of pig iron and coke, when she ran aground on Wau-ilang Wau-ilang Island, in Spencer Gulf, South Australia. Her hold quickly filled, nnd it was soon impossible to float her. For two months she was in this condition, the whole after part of tho ship being under water. Her captain cabled to his owners in France for orders, and received a reply to the effect that she should be sold at auction. A number of Australian firms sent representatives to Inspect the wreck, but none of them thought that It was worth while to buy. It was confidently stated that salvage was hopeless, but J. Bell & Co., grain merchants of Melbourne, made a bid. and the wreck was sold for $1.S40. Some critics laughed and remarked that they were paying for a hold full of water which could not be raised. Messrs, Bell said nothing, but engaged a diver to Inspect In-spect tho vessel, and then the news became known that the damage to the bark was only slight. A hole a little more than a foot in diameter had been torn in tho bows and tho diver reported that this could easily be repaired. Work was begun at once, the water was pumped out of the hold after the hole had been plugged up. and after the vessel was thus lightened light-ened she was towed off and beached. After that further repairs wore carried out, bo that the ship could be brought to Melbourne to be docked. The work was successful. In spite of a strong gale right ahead the vessel was towed by a powerful tug to her destination, and now it Is seen that tho value of the ship and cargo is over $60,000. It is believed that before long the Jean Bart will be sailing the sea again, for she Is very little damaged. dam-aged. At Lloyd's a newspaper representative repre-sentative was Informed that though this is regarded as ono of the plums of the business, there have been several similar ones, "Round the shores of Britain every year," said a marine broker, "there are a large number of wrecks which would yield a large prorlt to any enterprising buyer, provided he had the necessary neces-sary facilities to sell or dispose of the property. "Some time ago a steamer was wrecked off Yorkshire, and the buyer buy-er was a man who knew little about such matters, but he bought the vessel ves-sel for about $1,500. It was not a big ship, but sho had a valuable cargo on board, and it was feared that the bottom had been ripped out of the ship and the cargo lost. In the cargo was a large number of pictures. Few firms cared to touch the business, and the underwriters let it go for the sum stated. But the ship was inspected and raised, and then, to the surprise of everybody, every-body, the cargo was discovered to be little worse for its Immersion. The property sold for nearly $50,-000. 'There was another case a yoar or so ago of a ship which was wrecked with a valuable cargo on the coast of Africa, She was given up as hopeless and sold for a song. Tho new owner took a sporting chance knowing the valuo of the cargo of chartering a ship and sailing out to the wreck. He succeeded suc-ceeded in raising her and towed her to Gibraltar. Here tho cable parted and she was lost for two days, but ultimately was found again and brought to the Thames. That ship Is still sailing the seas under another anoth-er name, and the owner made his fortune out of the deaL jB "Few people have any idea that we havo scores of wrecks lying around our shores. In some cases they are ontirely abandoned to any one who cares to take the 'pickings,' 'pick-ings,' but in others they have been sold to local firms for a small sum Even the amount of ifon and wood In some hulls would pay for the cost of salvage. One easily remembers remem-bers tho fate of the Oceana, which went down off Folkstone; the Mah-ratta. Mah-ratta. on the Goodwins, and the Preussen. From tho Lizard one can see quite . number of wrecks on the coast line, and It has often been suggested that if theso boats were salved systematically a profitable profit-able business could be built up in j this way." i I |