CAPITAL OF 18/6

New Zealand Herald, Volume LXXV, Issue 23160, 5 October 1938, Page 5

CAPITAL OF 18/6

GERMAN WOMAN IN LONDON TO START AGAIN AT SIXTY -■/ v ;v » A "non-Aryan" German widow, Lucy Borchardt, arrived in London recently to begin life again at 60. She has surrendered to her "Aryan" employees all but three of her 10 tugs and steamboats .which for years have operated profitably from Hamburg. Plump Frau Borchardt carried in her purse a document promising delivery of these three ships at a British port—and 18s 6d, the capital on which she must start to found a new fleet. She smoothed her grey, Eton-cropped hair, as she poured her money on* the desk in front of her. "I am very fortunate," she said to an interviewer. "My employees and I have always been good friends. There were 150 of them." The business value of her fleet was £BO,OOO. Now Fr.au Borchardt is applying to the Board of Trade for the three ships left to her to be registered under the British flag. "My only alternative was to sell my fleet for the best, price they would fetch ip the market," she said, "but I was anxious for the future of the men who had worked for me and my husband for the greater part of their Jives. ' "One pf the concessions granted me was that no long-service employee of mine should be discharged. For that I thank the Nazi authorities. All trading profits will be divided between the seamen and office staff, according to regulation rates of pay. Any balance will go toward the maintenance of dependants. "I make no complaint whatsoever against the authorities. I could have sold the ships and lived in Hamburg in retirement on the proceeds with my son. I do not regret what I have done."