COMMISSIONS ON SHIPS

Dominion, Volume 5, Issue 1434, 8 May 1912, Page 5

COMMISSIONS ON SHIPS

LARGE SUMS REALISED IN WAR TIMES. During the Russo-Japanese war many ships were sold to the Russian Government, and the commissions paid, were stupendous. For instance, four Atlantic liners were offered to the Government <or a mill-ion sterling, and the counnission payable to the broker was to be 5 per cent., and to the Russian admirals, who were negotiating the business, 25 per cent., or i'2ao,ooo, was to be paid. This transaction, which, however, fell through owing to a dispute as to the division of the spoil; contrasts in a marked degree with tho action of a well-known Spanish shipowner in a somewhat similar transaction. On behalf of the Spanish Government, during the Spanish-American war, he arranged to purcliaso two large German liners for about .£,160,000. Tho vessels were brought to his notice by a bntish shipbroker, but , the Spanish owner decided to carry the business through direct with the representatives 01 the German Company. lie iirst arIlia broker was to be protected lor his commission, which was fixed at 2 per cent., and he then asked the German representatives what commission ne was to nave for himself. The representatives of the German company at once.; replied, ".£12,000." "Then,""said jho Spanish owner, ,f as this is a transaction tor the benefit of my country, I re<idvuntage of my position, ana theretore I. will pay you tho purchase price, less the cfHS.OOO. - " This was done, and the broker fixed on 2 per cent, as his Gomimssion. Some years ago a German shipbuilder was trving to soil a vessel ho had on his hands. He had tried unsuccessfully to sell her for some years, and at last in desperation he offered an Lndish broker 10 por cent, commission it lie would find him a purchaser for his steamer. There were rumours that t a new Norwegian company would acquire the boat, hut negotiations fell t.irough, and so far no one has como forward to purchase the boat, which still remains' Illustrated."