FORTUNES IN SHIPS.

Manawatu Standard, Volume XLII, Issue 1016, 8 November 1917, Page 5

FORTUNES IN SHIPS.

Fortunes arc still being made in the shipping world just now. The Ne.v York steamer Aztec, which was torpedoed recently, was insured for £500,000, although before the war she tost less than ITS.OOO to build. Derelict vessels, too, which would have been allowed to become total wrecks are n»iW making small fortunes for their owners There is the story of the old Norwegian sailing barque Sator, which wis wrecked on the coast of Florida, and afterwards towed into New Orleans. The insurance company disposed of tho vessel for £6OO. and the lucky shipbroker after instituting repairs, disposed of her for £40,000. A few months hack a Newfoundland fisherman offered his little schooner for sale. In pre-war days she would have fetched less than £2OO, but he received no less than £6OOO from tho deal. Supporting the exemption of a drayman, aged 31, passed for garrison duty abroad," the representatives of Messrs Barclay. Perkins and Co., brewers,; of the borough, told the Southwark Tribunal that 485 out of 500 of their men had joined the forces, and they wero making payments to the dependents, who were no worse off than they were before the war.