Show MORE BRITISH GOLD s it is expended for the roach ship yard AID will WILI BE USED IT IT i 1 or to t ba be in the bliem the plant worth oler STANDARD special F chronicle service I 1 NEW YORK c june 28 that englishmen gl ishmen en t think j n k the united states ship industry is not dead is shown by confirmation of the rumor of a few daya days since that a company of british capitalists has been formed to acquire from the representatives of the late john R roach tho the shipbuilding yards and engine works at cheater on the delaware river and the morean morgan iron works in this city the new corporation is to be known as roache ship building and engineering company limited ted and it ba has been incorporated rny rate d in gloat britian under the companies com pinies act of 1880 1886 the preliminary prospectus which has been received by charles D freeman of no 7 wall street sets forth that the share capital is to be divided into 8 per cent preference shares of 10 each of which portion will be issued to leuders venders in part payment of purchase money in addition to the share capital a debenture c capital a pital of in 15 per cent debe debentures natures jf pounds each is provided for the prospectus announced that the board of management in the united states will consist of the folio following wing john B roach president of cheater works george weed president of the morgan iron works henry fitters steers president of eleventh ward bank and william rowland of new york city A comp description of the ship yard at chester and of the morgan iron works are given riven in the prospectus and also a history of the property from the time the late roach acquired possession of it for three yeara from 1887 to 1890 it is ig estimated that after paying 6 per cent on debenture 8 per cent on preference shares and 12 per cent 0 on 1 I 1 common shares there will be a fur plus of about to meek meet the expenses of administration and incidental disbursements the valuation placed upon the property as it stands tody today to dy day is not including inc ludine the good will the issue will probably be advertised in london 0 on n saturday the |