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132 and west coasts of South America and ,United States ports. * As the first step in the organi- zation of its fleet, the Grace Steam- ship Co. purchased three vessels of about 5,700 tons each. The ships are VENEZUELA, Ecuapor and CoLoMBIA, all flying the Dutch flag at present, and the price paid to Hannewig & Johnson, who put through the trans-. action, was stated at $3,300,000, or $1,100,000 for each of the vessels. The vessels were owned by the Royal Dutch West India Mail. Sells Sister Vessels The three ships involved in the sale are practically new, having been built in Holland last year. None has yet been employed on more than one or two voyages. .They are exactly alike, their gross tonnage being regis- tered as 5,641 tons, and are 330 feet long with an extreme breadth of 43 feet 6 inches. They are capable of a speed of about 13 knots and have _ first class accommodations for 111 passengers in addition to two cabins de luxe. According to the terms of sale, prompt delivery of the steam- ers will be made at Amsterdam. The three ships will be transferred to American registry and will hereafter sail under the American flag, it is announced by the owners. The fleet of the Grace Steamship Co. will include, in addition to VENE- ZUELA, COLOMBIA and Ecuapor, a num- ber of freight steamers now being operated by W. R. Grace & Co. in the -South American trade, the new SANTA BarBARA, recently delivered from _ the Cramp ship yards at Philadelphia, and probably Santa Rosa and Santa PAuta, both of which are now in the process of construction. All three of the ships are modern in every particular and are equipped throughout with modern devices. Their introduction into the United States- South American trade is to materially improve conditions and is regarded as particularly important in view of the present scarcity of tonnage engaged in this service. Liquidation of the Pacific Mail Steamship Co., which was undertaken by the Southern Pacific railroad, own- er of a majority of the stock, on the ground that it was not profitable to retain the line under onerous burdens imposed by the seamen’s act, has been halted, and the company will con- tinue in operation. The present owners of the ma- jority interest in Pacific Mail are W. R. Grace & Co., who recently acquired 110,800 shares from the Southern Pacific company for $10 a share, after the distribution of THE expected ~ $25 a share from the proceeds of the sale of the company’s four largest vessels, They have decided, in view of the fact that the Pacific Mail flag is well and favorably known to the trade in Central and South America, to keep the charter alive, and to con- tinue the operation of the Pacific Mail company. To make this step legal, the stock- holders have approved action by their directors looking to the return of the seven smaller ships recently sold to the American International Cor- poration. These are the steamships Peru, Ciry or .Para, Newport, AZTEC, San Juan, San Jose,, and PENNSyYL- VANIA. The sale of these vessels was effected by the Southern Pacific for a consideration of.’ $1,250,000, and it was announced at the time that they would be operated for the new own- ers by WR. Grace. & -Go;: Soon afterward the remaining assets of the Pacific Mail company were acquired by W. R. Grace & Co. The effect of the new arrangement is to cancel the: recent sale of the seven smaller vessels to the Amer- ican International Corporation, leave them in possession of the Pa- cific Mail Steamship Co., now owned and operated by W. R. Grace & Co. There is a close community of inter- est between the corporation and W. R. Grace & Co. Officials of the American Inter- national Corporation explained that the decision to purchase the vessels had been reached through a desire to keep the American: flag on the Pacific, and that when W. R. Grace & Co. obtained possession of the other assets the corporation was glad to cancel its purchase agreement. As a result, the only fleet of American owned vessels in the Pacific will re- main intact. Conditions in the ship- ping trade have undergone such changes through the withdrawal of many vessels on account of the war that it now appears that the line to Central America can be operated at good profit. Will Seek Pacific Trade The Gaston, Williams & Wigmore Steamship’ Corporation will have a capitalization of $5,000,000 and a fleet of about 14 ships to start with. It is incorporated under the laws of Delaware. While it is planned to have both an Atlantic and a Pacific route, it is understood thatthe large share of the shipping will be in the Pacific. The Pacific route will be San Francisco to points China and Russia. from in Japan, The port of call MARINE REVIEW ! and: / lt April, 19 in Russia will be Vladivostok, the Atlantic service, the ships are run from New York to Archangel, when that port is open to navigation, and it is probable that shipments also will be made to English and European ports in competition wit English, French and American lines George A. Gaston, head of the firm of Gaston, Williams & Wigmore Inc., is president of the new steam ship company. James A. Wigmore N. J. Budlong, William H: Williams. and R. H. Lee Martin, all connecte with the same firm, will be official of the company. These men will be on the board of directors, and the only other director elected is Charles H. Sabin, president of the Guaranty Trust Co., New York. This banks ing institution, it has been generally — understood, has _ financed Gaston, Williams & Wigmore, Inc., from the beginning of the war. Firm’s Growth Rapid Gaston, Williams & Wigmore, Inc. is a new concern, comparatively, in ~ New. York City. Starting with a working capital of $1,000 at the be- ginning of the war in Europe, the firm has established offices in Lon- don, Petrograd, Paris, Rome and Havana. It is closely affiliated with Gaston, Williams & Wigmore, Ltd, of Canada, which was organized to operate vessels flying the English and Canadian flags, and which, it was announced yesterday, was about to increase its capital stock to $1,- 000,000. The New York company, known as the parent organization, has offices in the Guaranty Trust building, and is reputed to have made millions exporting war supplies in large lots to the allies. The company already has taken over six vessels as a nucleus of its shipping fleet. They are VIRGINIA, which, according to Lloyds Register, is a steel screw steamer of 4,300 tons; Lorp DuFFERIN, a steel screw steamer of 4,664 tons; CARoLtyNn, a steel screw steamer of 3,141 tons; EsKASOMI, a steel screw. steamer of 2,761 tons;- MarRYLAND, a_ steel screw steamer of 4,731 tons, and O. H. Brown. In addition the new shipping com- bination is taking over two ships of 6,000 tons each, which are now build- ing. The names of these are not given. Six other ships, the names of which are not disclosed, have been chartered, and four more, making the total 18, are to be built as soon as the new corporation is well under way. The company will also take over contracts recently obtained by Gaston, Williams & Wigmore to de- liver large cargo steamers built by