Honolulu Republican, Volume IV, Number 499, 17 Ianuali 1902 — AMERICAN TRANSPORTS MAY SOON BE “PAU” [ARTICLE]

AMERICAN TRANSPORTS MAY SOON BE “PAU”

WILL LOSE AMERICAN REGISTRY Useless Between American ports and Must be Sold Cheap—Good Chanc* For Local People to Buy Fine Vessels on Speculation. Recently the Secretary of the Treasury rendered a decision that, in event of the sale of the United States transports the vessels would not be given an American register. They now fly the American flag as they are the property of the government. Most of them were of foreign register at the time of their purchase and when they pass out ot tne hands of the government, their present American registry lapses with them and the vessels resume their foreign register. As these steamers are useless for service between American ports, be ing of foreign register the government i cannot hope to receive suitable compensation for them, so it is a foregone conclusion that when the vessels are sold, they will net figures which will be a great deal less than the original, as well as the subsequent • cost of the vessels. Some of the transports cost as high as $500,000 and repairs and improvements have been made to many of them at a cost of several nundred thousand dollars more, so that ■ of the vessels stand the government close on to a million dollars each. Without an American registry the value of these vessels becomes much less. It is said that some of the transports may be bought here at low cost, the buyers hoping to get a bill introduced into Congress granting American registry to the former trans i ports.