THE EGYPT'S BULLION.

Dunstan Times, Issue 3129, 7 August 1922, Page 2

THE EGYPT'S BULLION.

Tin' I’. :\nd O. steamer Egypt, which -opU oil' the coast of France on May 20. ;is the result of a collision with the French steamer Seine, carried a large amount of gold and silver. Ihe value of this consignment washrst. placed :u L" 1 .DSD,(UK), COStI.OOO htiug in gold amt 1:2.50-000 in silver, hut since I hen the known amount has been swollen ny Ini--1 her declarations. 'flic whole was insured at the rale of Is ‘ld per cent, lo port or 2s del per cent, to cover also inland transit. With a view to ascertaining the prospects of salving the Egypt or the bullion or specie aboard* the vessel, a representative of Lloyd's Lisl interviewed Commodore Sir Fred.; rick doling, K.N.IL. who has to his credit so isjnn.v notable salvage feats, among them the raising of the Vindh ti ve. In reply to n (pie'stion whether it was possible to raise the vessel, assuming that she lies in (30 fathoms, which is approximately tbe dept li of water to be lolind tor manv miles to Ibe north and west ol Fshunt Sir Krederick replied that it would be impossible to lift the i‘gyp from that depth, while, ‘be salvage ol snceie might he possthlv. hut Ck eliances of success were extremely Frederick recalled the fact thatlie h:ul superiutemiU (1 ilu l solvacro (n odd, from the Oceana, which was sunk h v collision off fieacliy Head on .March i<)] o. and which carried about thice-oiiaiters of a million in bullion, all of which was n • m red. but n '"' a dentil of lo fathom- only, the LauI'cntie. he pointed cut. was another vessel from which specie was being salved hut, hero again, the deoth was oulv 20 fathoms. The Fgvpt was nob enl'v at a greater depth, hut the conditions prevailing round the coast where site was sunk were very much against salvage. He retarded 2d fathoms as the maximum depth from which ,t was possible to raise a ' - sd at present. 'l'd this statement it may he added ibat w!i<’ii the Spanish liner AHonso Xll. sank, in February. ISSo. o!f j >ciii 1 (Jamie. Cram!, Canary, in nearly ;!() fathoms of water about a mile from the shore, .she was carrying from Cadiz to Havana Spanish grid coin valued at Cloo,ooo, and Mr A. Lambert, n diver, recovered from the wreck ■£/().- 000 of the treasure at a depth of 1(30 feet.