SPANISH NAVY

Press, Volume LXV, Issue 13342, 6 February 1909, Page 9

SPANISH NAVY

SHIPBUILDING COMPANY FORMED.

United Press Association—By Electric Telegraph—Copyright. MADRID, February 4. Spanish engineering and banking firms have formed a company with £8,000,000 capital, whereof 60 per cent, will be reserved for Spanish investors. The company will build warships at Ferrol and Carthagena, in connection wherewith Government contracts will go to Vickers, Sons and Maxim, John Brown and Co., Armostrong'e, and Thornycroft's.

The reorganisation of tftie Spanish navy has been under consideration for some time. Little has been done; to increase the strength of the navy since the Aimerican ■war, and the value of the force is now very small. The programme issued last year, in connection with which the above company has been formed , , provided for t'hreo battleships, three destroyers, twenty-four torpedo ■boats, -and! four sunboats, and the reconstruction of ±\xo ai"»aals at Ferrol and! Oarthagena, the total cost to be £6,429,000. The battleships will be smaller than the Dreadnoughts, but in •nil other respect® will bo quite np-to-dfate. The hulls will be submitted to the British Admiralty tests. TJve conditions of construction provide that for the first inro years 75 per cent, of the men employed in the buildting may be foreigners, but after that only 50 per cent. No very_ large vessels have been built in Spenash yards.