FORTUNES IN SHIPS.

Taranaki Daily News, 4 January 1917, Page 2

FORTUNES IN SHIPS.

HET.tAKSiELE FIGURES '.■ c; 40,000 pjtoriT ON A steajujr High prices for vessels are still maintained, and show no signs of falling off, says Lloyd's list of October 13. A new steamer built in Japan this year at a cost of £60,000 lias been sold at a profit of £140,000. New British-built steamers are selling at £3O to £2O per ton dead-weight, as against £lO per ton last year, and second-hand steamers have been fetching enormous pr'ces, as much as £l9 per ton dead-weight having beer obtained for a vessel 38 years old. Sailing ships (which a few years ago were worth only a little above breakingup prices) have been sold at £2O to £2B per toil. The .Scottish Glens was recently sold for £47.250, or more than 1.) times her value six yews ago, when she was sold for £3OOO. The Ale-ides' was recently sold for or over 11 times her value in 1912,' and £40,000 above her cost 24 years ago. The Syvstjerne, built 25 years ago, at a cost oE £12,000, and sold in 2910 for £2.300, was recently sold for £?3,250. The Brabjoeh, recently sold for £sfi,Soo, was worth only £4250 five years ago. . Some idea of the fabulous prices paid for ships may be gained from a glance over the long list of vpssels which changed ownership during July. August, and September of this year. The moat remarkable figures are those of the Kumi Maru, a vessel of 0700 tons and built 14 years ago. B;?cre the war started she had earned more than twice the amount she cost, and in 1913 was sold for £31,500. In 1915 she brought £75,000, and three months ago again changed hands at £235,000. The Saint Nicholas brought £25,000 in 1914, and this year was transferred to a syndicate for £80,300. Two years ago the Calimeris, of 6180 tons, was worth only £20,150, but in January last her value had increased to £IOO,OOO- and when the present owners took her over last August they paid £185,000. The Dionyssios Strathos brought £35.000 four years ago, but was recently re-.ild for £185,000. When the Perth, a steamer of 5730 tens ivas sold in 1912 the highest bid was £17,000. Two months ago slie brought £178,000. Another extraordinary series of deals was made in connection with the Hjeltefjord, of 5400 tons.. In July of last year she went for £37,000, in October" of the ssme year far £54,000, in January, 1910, she brought £83,500, and in September again found new owners, who paid .-2172.000. The Thomas K.rag was sold for £37,000 in ; 1915, and in September of this year, after she had earned a fortune, changed hands at £155,500. One deal with the steamer Meikai Maru showed a profit of £140,000. Eleven years ago the Panathis Drakatos was worth .CIB,OOO. Early In 1915 her price was £28,000, and at the end of that year her value had gone up considerably, and in September of this year she was sold for £IIO,OOO. In I!: 13 the Taiyo Maru. of 4000 tons, was sold for £IB,OOO, and rawmtly changed ■her house flag, the deal costing £ SO,OOO. | The Gustnv Vigeland, though only worth £10.500 in'l9l2, brought £116,750 in August last. The small steamer Cossaok. in 1907, changed hands _at £7250. This year she brought £83,500. Between January and Augutt of this year the steamer Ncrman was sold and re-sold at a profit of £34.500. The foregoing are only a few of the many instances of the fortunes bfton made in buviag and selling ships since the war started. Every vessel now held can be readily sold at a huge profit.