DIVIDING EGYPT’S GOLD
£300,000 FOR SALVORS LONDON, Sej.it, 7. Yesterday the underwriters who 10 years ago paid out £1,058,979 tor the total loss on tile gold and silver which went down in the I’, and (). liner Egypt, when she was sunk by collision with the steamer Seine, off Gshanl, received cheques representing 6 per cent, of the total claim. They have now received 17 per cent, in all, or approximately £IBO,OOO, out of the £550.000 raised by the divers of the salvage vessel Artiglio. According to the original contract, the salvors receive fivc-eighjtlis of the total recovered and the. underwriters threeeighths. Thus Mr. Peter Sandberg, the engineer who originated the scheme for salvage, and with whom the contract was made, receives about £200,0C0 ol the £480,000 so far apportioned. There is an excellent prospect of still further recoveries, for the Artiglio has vet two mouths in which work on the wreck may lie possible before bad weather ends operations tor this season.
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Bibliographic details
Poverty Bay Herald, Volume LIX, Issue 17918, 24 October 1932, Page 5
Word Count
162DIVIDING EGYPT’S GOLD Poverty Bay Herald, Volume LIX, Issue 17918, 24 October 1932, Page 5
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