THE QUEST OF TREASURE.

Taranaki Daily News, Volume LIV, Issue 210, 11 March 1912, Page 7

THE QUEST OF TREASURE.

GENERAL GRANT WRECK. SEARCH STEAMER FITTING OUT IN AUCKLAND. Auckland, March 7. There is in Auckland just now the steamer Wairoa, 95 ton 3 gross register, which has been purchased from Macklow Bros, by Mr. E. C. May, an American business man who is financing an expedition to Auckland Island with the object of recovering treasure and cargo which went down in the sailing ship General Grant in 1864. In a few days the Wairoa will leave Auckland for Dunedin to be fitted out, and as little time as possible will be lost in starting on the expedition. It was ascertained that about eighteen men will be taken on the Wairoa, which will be under the command of Captain Perriam, an English officer familiar with the scene of the wreck. All the necessary machinery has been made in Australia. "There have been seven previous expeditions from New Zealand," said Mr. May, "but they have all worked from the sea side of the cave into which the General Grant was driven after foundering. To be successful the salvaging should be done from landward, and that is what I propose doing." Questioned as to the value of the cargo, Mr. May said that it was insured for £l(ia,000, and he had purchased the full rights from the insurance companies. "I have positive information," he said, "that there was about £500,000 worth of bullion on the vessel, and outside this the cargo will be worth about £IOO,OOO. There were twenty-six bales of wool, a large number of hides and pelts, 720 pieces of myal wood, and other things. Some people have told me that it will , be spoilt, but I think I know better than that."