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October, 1922 world have undergone a_ period of expansion, have had a similar period of contraction and in most cases have not yet struck the reviving demand which has started American yards up- hill. Property held by shipowners throughout the world is estimated to be worth now $6,000,000,000 less than MARINE REVIEW it was before the depression 24 months ago. This figure can be visualized by realizing that it is 40 per cent of the net sum spent by the United States to carry on the war. Much of this shrinkage is of course a paper loss, but to many newer com- panies it tells the story of bankruptcy. Its chief worth rests in proving the started thoroughness with which war values have been wiped out, leay- ing world shipping written down to a point where the prospect of earnings becomes world now has 33,935 merchant ships, each together 409 the inflated immediate rather than remote. Lloyd’s latest figures show that the more than 100 gross tons, and aggregating 64,370,786 gross Government Sells Entire Wooden Fleet in One Deal ALE of the entire remaining wooden fleet, com- tion of his bid, agreed to the terms but did not specify prising 226 vessels of approximately 835,000 tons built by the Emergency Fleet corporation during the war, was the outstanding event in shipping board activities in September. At a private competi- tive sale in Washington, in which 10 bidders partici- pated, George D. Perry, a member of the law firm of Lent & Humphrey, San Francisco, purchased the vessels upon his bid of $750,000. The vessels cest the government $300,000,000 to build, close to $700,000 a ship, besides their aggregate cost of upkeep, but the figure bid, approximately $3300 each, was $1200 more than had ever been offered.;for any one of them previously. Of the 226 vessels, 211 are at Claremont, Va.; i3 at Orange, Tex.; and two at Beaumont, Tex. Under the terms of sale, the vessels are not to be to what purpose the ships would be put. with Mr. Perry in the purchase, is J. J. Tyson of Charles Nelson & Co., San Francisco. Some time ago 75 wooden hulls were bought by Rober’ J. McGahie, also representing Pacific coast interests, for $122,500. Betwéen July 1, 1921 and Sept. 1 this year, the ship- ping board has sold 86 steel vessels of a total gross tonnage of 328,566. These are shown in the accom- panying table. To July 1 this year the sales involved 47 cargo carriers of 209,713 gross tons; three passen- gers of 24,676 tons; four barges of 7200 deadweight tons; two sailers of 3909 gross’ tons; two ocean tugs of 834 tons; and one tanker of 4459 tons. Sales of steel ships since July 1 have disposed of 25 cargo Associated ‘carriers of 70,312 gross tons and two passenger ves- ‘sels of 14,653 tons. Steel Ships Sold Between July 1. 1921, and Sept. 1, 1922 used as steamers. Mr. Perry, in a written confirma- Gross STEEL SHIPS SOLD Be ooetigi ‘ieee, YEAR ENDING Name ene Porcbecc: ~ ‘ i aes Flournoy. .... 2606 Lone Star Steamship Co., Inc. i Gross é Miaconieto sc. aes as 3482 A. H. Bull Steamship Co., Inc. Name tonnage Purchaser Maddequet. ....... 3482 A. H. Bull Steamship Co., Inc. | Tankers ss eourtca Sn leone oe Ugetatclie a rie 9 Tine e oe ee a i : wee ae secR (Cs IVATICA So ssislerteces seas 8738 Luckenbach Steamship Co., Inc. City of Freeport... 4469 Steamer Freeport Co. IVD se ea cp ais 2150 A. H. Bull Steamship Co., Inc. Passenger eee: oe gents 3482 a4 i Bull ised aaa J ees + re 7 i Orientals kena 7038 Dollar Steamship Line of California Northern Pacific... 8225 H. F. Alexander : Hear Goltimbiae 2.5 os); Ace. 8225 Pacific Steamship Co. Bee haste Uae ee ea ae aes es Calgoo 8226 Robert Dollar Co. RRO NSEOE ves 278 ls Be Spreeuey es Son . Requo tins 0 seniors 3541 Pacific Freighters Co. Sailing Vessels BPinellasne cists 3513 Caroline Co. Arapahoe 2163. Alaska Packers’ association Po uee pace eh. 1631 ae ee Gordon Brayfield ay Bhs pee Sega Pde CAG ices. Pumire! kanes Aa sewn oon | We owley Ponowanda sce. oc0% 1746 Columbia River Packers’ Association Cine cuce ee 4378 CH Soraeue & Son Barges pie age ie 5083 aay ae as one net ; a aS “fais Feri oass South Bend. area. 8738 Luckenbac teamship Co., Inc. Somes ria: A = Wiehe Wool. Crosby sc: 2496 North Shore Transit Co. Nashville io ene aaa Ton We Sallianiooe. Yellowstone ...... 6070 Alfred da Comara Olid Hickory. | nt W. E. Winship STEEL SHIPS SOLD SINCE JULY 1, 1922 Ocean-Going Tugs Cargo Bialdnoek 3 oa a 405 United States & Bermuda Towing Co, Bartheny = 4c0c0 os. 429° W..G.. Coyles) Co.; “Inc. INS DCGe ee ecn te: 3532 New York Shipbuilding CaED: Costillacs sg or. Secs 2350.5 & eh rach, lac. Cargo Cote apne ike Bene aie a & \ raey Ine. INTTSECON: 5 fey te stat 3372 A. H. Bull Steamship Co., Inc. Cottonwood ...... 2450 ye a ree WirCadlacc res ihe 5453 Pacific Freighters Co. Coulee mcnenncess hts 2 2450 James Davidson | LENE Rg ie ne Bathnciie ts 3482 A. H. Bull Steamship Co., Inc. Cotparle: sh 34 2450 a. Angeles Shipbuilding & Dry Dock CUSCHs Seis oe eee 6022 Pacific Freighters Co. : , oF cise ta UNS : Cathay Marae, 7033 Dollar Steamship Line of California pansies Se, BON a ee ae piaheiae aed Cottonplant .i4 4.6: 2333 Pacific States Lumber Co. Carcie Bice rae ee aay 3450 Moston’ Sale Co : Celestial io rae. 7030 Dollar Steamship Line of California. BOE Sy teeta ea g N Ped ee + : Gatherine i663 e.. 2139 AVE. Bull; Steamship’ Co., Inc: * Covedale ca saree: ae ae Sap gata! oe City of -Brunswick 6368 Wm. McFatridge Coven ...+++++ss one I ns Ang yn nel di nee Cowiche .......... 2496 California & Oregon Lumber Co. Cowan ........... 2450 “ce Angeles Shipbuilding & Dry Dock Craigsmere ates 2496 Morton Salt Co. Co eg AG ee wanshannock ... 2532 Bebichen Shipbuilding Corp. : pb ets ie aati ace so 1 erceae : Goy. John Lind... 3431 Baltimore Steamship Co. Pais reece Sma ss 2507 Fred ie ERE OR Jacksonville. 1.0... 3513 New_ York Shipbuilding Corp. Goreotatr iii ees 2153 Baltimore & Carolina Steamship Co. sd ote Baoan ee Se ata is Co. Eastern Soldier.... 6749 Luckenbach Steamship Co., Inc. Take Cesrce Oe age Vames Davidegn Eastern ‘Merchant. 8150 Luckenhbach Steamship Cac Inc. e hela Bo eras 2364 M & T Vrs ee Eastern Cloud.... 5828 Garland Steamship’ Corp. Tr aticohare Se Ae Ns 1977 T 7 Ponce: 2 ; Eastern Ocean 5868 Garland Steamship Corp. Apes Wiccan "3434 a aitiore Sieanhin Co Eastern Exporter.. 5766 Garland Steamship Corp. Noa beeen 2648 TO Maller. & Rocaniakee Eastern Importer . - 5786 Garland Steamship ‘Corp. Tipton ee 2648 Baltimore & Carolina Steamship Co. Bagon Trader.... ee Dee oe fou ine Tunica (ex-German) 4974 sagas on res Merchants Shipping & For- MGCMLYM fw ee et eee < cies ae ; : b ’ : warding Co. fonowts Oden aN boa oe Peicueee ae West? Caruth. 22; 5632 Frank C. Strick. & Co., Ltd. Lake Forney sot chee 2624 Hialmer Buvig Passenger Lake Arthur. 62.5. 1948 Richmond-New York Steamship Co. Pocahontas'5 3.446 10352 Edwin H. Duff : See Lake: Stirlinge 2.3 1948 Richnmond-New York Steamship Co. Porto: Rico, 6 ees 4301 New York & Porto Rico Steamship Co. b | PR PROS ae NIST ES Pee AOS, SASS TIRADE Pet TE