THE STRANDED TYRONE

Dominion, Volume 7, Issue 1869, 1 October 1913, Page 8

THE STRANDED TYRONE

CHANCE OF FLOATING HER,

SIR J.MILLS ON FINANCE ASPECT.

(Br Teleiraph:—Prw Assooiatlon.) ■ Dunedln, September 80. . The position of the Tyrone remains :! unchanged. • A slight easterly swell set in to-day, but not enough to causo anxiety. An effort will bo mado to- .. morrow to plaoo a 16-h.p. dredge boiler on the vessel,for the purpose of operating the pump's. At a meeting oP shareholders of the Union Company to-day, Sir James Mills . said that he - understood that an impression prevailed amongst somo shareiolders that it was possible that the Joss of tho Tyrone might so encroach •upon tho company's insurance fund_ as to affect tlio scheme of reconstruction. ,'He was pleased to assure them that, : even if the Tyrone turned out a total i'loss-r-and he was glad 1 to say there wiis r (apparently some chance of refloating iher —tho insurance' fund of tho company ■would not be seriously affected. The transfer of the four sliips purchased. ' of which the Tyrone was one, had not ■teen completed when • their _ previous ■ Policies expired l , and then' insurances Sad been renewed by their former ! managers. The Tyrone was therefore covered to a fair extent, and the Union Company's insurance fund would not be prejudiced' should total loss eventuate. . CEAR SENT SOUTH. Yesterday evening • tho Union, Company's i tug Terawhiti left Wellington for the scene of the .wreck with salvage gear: - The vessel has oil board 'two big anchors, viz., one of six and one of fivo ' tons, which were brought out from London by the Rotorua, .and ;were originally intended', for use in connection with ■tho salvaging of the Indrabarah. Tho Terawhiti has also taken six 5 and 6|in. .wire hawsers, as well as four, extra pumps .and two salvage boilers. Tho vessel, also Jias; all . her own gear. Tile same' companyls steamer :' Slaitai, which left ■ for Lyttelton and Duncdin last evening, also took a quan-tity.-of salvage gear. THE INQUIRY. ' DATj! AND PLACE DECIDED. ' , The' Marine inquiry into the circumstances. surrounding the. wreck of. the ' Tyrone will be opened at . Dunedin on Tuesday next at 10 a.m. The nautical- assessors have not- yet been appointed.

V ', REINSURANCES AT LLOYDS.. . JJy TeJofcraph—Press Aesooiatlon—OopyTteh* (Rec. October 1, 0.5 a.m.) London, September 30. The Tyrone has bepn reinsured at 75 v 'fcnd 80 guineas per cent.