286
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DOUGLAS
(Continuation.)
At this time, the Douglas fleet was comprised of the following vessels:- "Albay (541 tons) Namao (1,375 tons) Thales (1,199 tons), Hailoong (406 tons) Fokien (515 tons) Douglas (1,566 tons) and Kwangtung (1,056).
These vessels were taken over by the company at a valuation of $852,500, a sum well within their value.
Messrs. Douglas Lapraik arranged to take at least thirty thousand fully paid-up shares on their own account which, as the comment observes, was a good indication of the confidence they reposed in the prospects of the new company.
That confidence was certainly not misplaced.