CO129-485 - Governor Sir Stubbs - 1924 [8-12] — Page 37

T

1.

1

Copy.

MOLLER AND COMPANY.

24

No. 33 Avenue Edward VII

Shanghai, July 15th 1924,

W. E. L. Shenton, Esq.

Messrs. Deacons,

Hongkong.

dear Shenton,

I have for acknowledgment your letter of the 8th July and I have to thank you for your expressions contained therein, THE PRESENT MOMENT is the period to buy shipping, I am convinced of this, and many good ships are going begging, purely on account of the collapse of the present shipping trade,

I am satisfied that my training to run steamers is more than sufficient to bring anything I touch

in shipping to a success.

I would like to purchase tonnage, with as

young age as possible, but such vessels usually cost a

substantial amount, furthermore I do not care to buy any

vessel under 3000 tons deadweight, if this is possible.

I would wish to purchase three (3) steamers,

as this will give me one-third of the tonnage back, which

I had at the early part of the war (1.0. I had 9 vessels)

I am of the opinion that I could buy these

three steamers, for an amount in the vicinity of £45,000.0.0

that is if I sot promptly, and take advantage of the present

depression.

I average the price of tormaga at about

£15,000,0,0 each.

Leaving a "Give-and-Take" round the age of

the vessels (1.8. a younger boat would cost a little more

than