Mercantile Cruisers.
REPORT OF LORD CAMPERDOWN’S COMMITTEE.
The Select Committee, of which Lord Camperdown was chairman, which was appointed to Inquire into the question of the utilisation of mercantile steamers as cruisers, recommends that, with a view of controlling such vessels in war time and preventing their transfer under a foreign flag, all mercantile cruisers should be able to carry 4.7 guns, and must meet the Admiralty’s requirements with regard to steering-gear, It also recommends that the guarantee of subsidy be decided by the Admiralty remaining the registered owner of one-half of each vessel, and that the company should manage the vessel and take the profits. The first cost of a vessel of twentyfive knots and a horse-power of fiftytwo thousand is estimated at a million pounds, with an annual subsidy of a hundred and forty-nine thousand pounds. A steamer with an additional knot of speed would coat a quarter of a million more, would require an extra sixteen thousand horse-power, and an extra fifty-five thousand pounds subsidy. The committee points out other alternatives for guaranteeing a sum to enable owners to borrow at 3 instead of 5 per cent, as a lump contribution towards the first cost.
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Manawatu Herald, 20 December 1902, Page 2
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198Mercantile Cruisers. Manawatu Herald, 20 December 1902, Page 2
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