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EPRECIATION in the value of D ships has enabled some bargains to be obtained by fortunate buy- ers. The most striking recent example is the purchase by the King line of four Greek steamers, each of an average of about 8000 tons deadweight. The ves- sels were sold by auction, realizing the following values: STATHIAS, built in » 1920, sold for £41,000; Trraris, built in the same year, for £42,500; AMHATIE- Los, built in 1919 for £38,500 and the CEPHALONIA, built in the same year for £36,750. The price works out at £5 per ton, comparing with £36 when the vessels were sold by the shipping controller in 1920 when ships’ were bringing fancy prices. Incidentally the sales show the astute- ness of the shipping controller who clearly foresaw the pending depreciation of tonnage values. Another noteworthy point is that the ships were of the “standard” type, which has since become unpopular. The buyers well recognize that as ‘they have been laid up for some time, considerable sums will have to be spent upon them in refitting, but at the same time it is a profitable in- vestment for the buyers. * * * NE of the conditions of the peace treaty with Germany was the hand- ing over to the British admiralty of a number of floating docks. One of these was considered to be the largest in the world. But three of the sections had been rendered useless by the Ger- mans and wuen the government sought to dispose of thc dock, ‘the sale did not come off, apparently because of the cost involved in repairs. Recently, how- ever, Chatham dockyard has undertak- en the job itself, having 800 men at work on building the new sections, the first of which is to be ready in. the autumn. It is understood ‘that the dock is intended for the new British naval base at Singapore. Each of the sec- tions will be 160 feet long, 85 feet wide and over 100 feet high, and when completed the dock will be able to ac- commodate the largest battleships afloat. cee, wee, HILE it is unusual for biographies to be read during the lifetime of the subject, an interesting exception 1s the book published by Lady Yarrow, en- What the British Are Doing Short Surveys of Important Activities in Maritime Centers of Island Empire titled Alfred Yarrow.and His Life Work. Doubtless the work has lost some of its personal interest through the elimination, by Sir Alfred himself, of certain personal details, but the book is_ still of great interest, especially to his con- freres in the industry. Sir Alfred Yarrow, chairman of Yar- row & Co. Ltd., Glasgow, founded ‘the firm of Yarrow & Hedley, London, in 1866 and after some early struggles a real forward movement was secured when the firm built one of the earliest steam launches which led to the building of light boats having a shallow draft. In 1875 the fifst torpedo boat carrying the torpedo on a fixed projeciing spar was produced. Speed was constantly increased until eventually 40 knots per hour was realized. When the war broke out, Sir Alfred, who in 1906 had removed to Glasgow, ~placed all his designs at the disposal of the admiralty and later instituted the system of rewards for ‘those who spotted and caught submarines, a plan which had important results. During the war, the Yarrow yard alone built 29 destroyers. * K * ORD KYLSANT.: Ga CM. 2G, chairman of Elder-Dempster & Co., Ltd., ‘gave some interesting information at ‘the annual meeting, calling attention to the fact that in some cases freight rates are lower than they were in 1914, notwithstanding the fact that the cost of carrying on a steamship service wiih British vessels is now nearly double what it was in prewar days. The com- ‘pany specializes on business with West Africa and to compensate for the lack of railway facilities for carrying goods to the coast, it has introduced a fleet of 190 motor lorries operating over 909 miles of roads in the Gold Coast. In the cocoa ‘trade, these lorries have been utilized to a large extent. Lord Ky- lsant forsees great possibilities in con- nection with the development of a large coal field in Nigeria, although that field at present is practically undeveloped, solely, in his lordship’s view, because it is the property of the British govern- ment, instead of being available for private enterprise. ee eee HE British treasury has agreed on the. recommendation of the Trade Facilities act advisory committee to guar- 309 antee ‘the principal and interest of a loan not to exceed £2,300,000 to be raised by the Royal Mail Steam Packet Co. and to be expended in Great Bri- tain in connection with the construction of three ships for the company. -It was explained in parliament by ‘he finan- cial secretary that the object of the act is to provide work for the people of the country. The amount of money and work included in the loan is to be ex- pended on plates from iron and_ steel- works in Great Britain which are ‘io be taken to Belfast for building the ships by Harland & Wolff. * * * ENINSULAR & ORIENTAL. CO, has recently nlaced orders with Har- land & Wolff, Beifast, for constructing at that firm’s Greenock yard two pas- senger steamers of 15,200 tons. A third - ship of the same type will be constructed by Hawthorne, Leslie & Co. at New- castle. The Greenock yard has also an order for a_ 10,000-ton passenger steamer. All the new vessels, which are intended for the India mail service will have reciprocating engines and wil! be fitted to burn oil fuel under Scotch boilers. elk Ce OAL export business has been great- ly retarded by the lack of siding accommodation, particularly at Newnort and Cardiff in South Wales. The recent enormous shipments have altogether ou‘- grown the wharfage accommodation, 4). : plans have been evolved for laying do: 1 at the Alexandra dock, Newport s:'- ings sufficient for accommodati. three day shipments with room fcr an addi- tional. 4000 railroad cars. At. Roger- stone, some little distance away, a shunt- ing yard will give space for another 1400 cars and gravity will be made use of in shunting operations. Sidings are also projected at Cardiff docks for a further 2500 cars. Consolidated 5 per cent bonds to ‘the amount of $1,022,000, of the William Cramp & Sons Ship & Engine Building Co., Philadelphia, which matured on July 4, were paid off out of current earn- ings, according to a statement by the American Ship & Commerce Corp., the holding company. The Girard Trust Co., Philadelphia, trustee under the mort- gage, made the payment.