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THE PENSACOLA JOURNAL, SATURDAY MORNING, JUNE 7, 1919.
'or ICSES SHO SIS IIPLAN RY DOCK EXACT STATUS OF BIG ENTER PRISE IS CLEARLY SET FORTH IN COMPREHENSIVE STATE MENT ISSUED YESTERDAY. The exact status of the proposition to construct a 5,000 ton lift capacity dry dock in connection with and as a part of the Bruce Dry Docks of this city, 13 clearly set forth In a compre hem ivo statement issued yesterday by officials of the company, this being offi cial confirmation of previously publish ed ieports. In connection with tne ' statement It is shown that the company is now ready to place on the local market the $200 000 capital stock necessary to be subscribed before the $450,000 is to be advt need by the Emergency Fleet Cor poration. The Bruce Dry Docks com pany, agrees to carry $32,000 of this re- pulr-id capital stock in addition to their I pi es;m noiuinga wnrcn represent an in vestment of approximately $175,000, and It is also confidently believed that the balance will easily be raised. Plans are made for eliciting local in terest in the Important project with a view to securing: the necessary sub scrittlons within a few days, ft la ex pected, and with a view to beginning the actual construction work as early as possible. As soon as the amount is subscribed the work will start. - The proposition on part of the fleet corpora tion is considered a most liberal one in which It visibly recognizes the im portance of the development I of Hie Port of Pensacola. The Bruce company- of which Thos. H. Johnson Is secretary, have, been working diligently on the . proposition to get this enterprise for Pensacola, end in their efforts they have .had ttve untiring aid of . Senator Duncan U. Fletcher, with the result that the Emergency Fleet Corporation has defi nitely agreed to lend Its aid to the project as set forth in the following official statement: - Dry Dock for Pensacola. The officials of the Bruce Dry Dock company desire to announce that con tracts have been executed with the United States Shipping Board, Emer gency Fleet Corporation, for the con struction and operation of a 5,000 ton capacity wooden sectional floating dry dock. Under the construction contract the government agrees to advance $450,000, or as much thereof as may be neces sary, for actual expenses incurred in constructing this dry dock, without profit to this company, and the govern ment further agrees to provide the cash funds necessary for carrying on the work above described not to exceed $450,000. The Bruce Dry .Dock company have secured detailed plans of this dock from J. L. Crandall of. The Crandall Engineering company, experienced dry dock engineers, and have received a proposal from a construction corpora tion of national reputation to take the construction contract and make bond to the shipping board, if necessary, and build the dock on a cost plus basis, guaranteeing the total cost of the dock will not exceed $419,700. , After, the construction of the dock is completed, and the dry dock lifts its first vessel the operation contraction already entered Into between The Bruce Loss Interest and sinking fund , v $55,190.50 Insurance, etc. ..... 6,295.50 $61,486.00, 1 ; Earnings from dock .....$ 7,146.00 The above estimate does not L take -into account the profits to be antici pated from the operation of the repair ttlant. KTnvrltnca V t a aorvsnl,A ury xjock. company ana une umieu,however( that the operation of a repair; States Shipping Board becomes effec- "plant, in connection with a dry dock live: Repayments on this dock under, is highly profitable. Our belief is this .contract will be 8 per cent, j that the net earnings from the re of actual cost each six months (aver- pair plant will more than take care age) the first payment to be made six ; of all overhead expenses and dividends months after dock lifts its first ves- on proffered stock. I eel. These payments made each six j A detailed appraisement of our pres- months will completely nay for Lie dock in ten years, at the end of which time the contract provides the' com pany "shall then become entitled to receive proper evidence of title." Our conservative estimate of earn ings from docking, painting and scrap ing, exclusive of repair work, is as follows: Docking 30 vessels, aver age 2,500 tons 20c $15,000.00 Average 3 lay days, 30 vessels, 2,500 tons 15c 33,750.00 Average men employed on docks 150 for 120 days , $1.00 . 18,000.00 Paints, etc. furnished from storerooms, estimated $30,000.00 20c 10,000.00 Brought forward $76,750.00 Loss: Expense of docking: Fixing blocks per boat ..$200.00 Electricity Men on deck .20.00 50.00 Vessels . $270.0030 ..$ 8,100.00 $58,750.00 LIST Y NAME IN THIS D This Directory IsIssuedThree Times a Week and the Charge $1.00 Per Month . , I?hone 1500 and tell us to. enter your name under the proper classification. ent property is as follows: Buildings and fixtures ..$ 2.500.00 Dredging: and filling .... 50,000.00 Docks and equipment .. 50,000.00 Piers and bulkheads ... . 33,750.00 Spur track 500.00 Tools and machinery .. 400.00 Real Estate 30,400.00 Z3 Y k $177,550.00 The following is extract from letter from Chas. Piez. vice-president Emer- gency Fleet Corporation to Hon. Ed- j ward N. Hurley, chairman United ' States Shipping Board, dated July 29, 1918. "In view of the urgent necessity for docking facilities I desire to recom mend favorable action on the proposi tion by you and request that you sub mit same to the trustees of the United States Shipping Board." Value of present Bruce company is $175,000.00. To the above property it will be necessary to make the following Im provements, at approximate costs as shown, to be approved by shipping board: Repair. plant buildings ..$ 52,000.00 ' Pier 17,000.00 Tacknge 3,000.00 Dredging 8,000.00 Tools, machinery andp shop equipment ...... 90,000.00 . "Working capital 50,000.00 n El Accountants, Public RAINES. R. T. Public Accountant Auditor American National Bank Building, Pensacola, Fla. McCaskill Block, DeFuniak Springs, Fla. Automobiles. rDODOE rmos. motor ca.r O. TT. HAYS Dealer. . Phone 74 Auto Painting PENSACOLA BUGGY WORKSi J1-1S1 Rust Jntendenoia. Phone ST Autc Repairer and Accessories. ABBOTT AUTO REPAIR CO. tOl K. Palafox street. - Phone 41S A complete line of Automobile Accessories Bakeries. P.EED8 SANITARY BAKERY l'S N Palafox St. Phone 484 BENNETT'S 42 Wt Belmont. BAKERY Phone MS Baggage and Transfer. BORRAS TRANSFER CO. Et rhnsA Ptrt Phone 1145 Chiropractors W. O. GOELZ Chiropractor Office,. Phone 333: Residence. 1247 82S-S31 Brent Building. Clothiers O. CLOTHINO STORE 319-31 South Palafox. Phone 1185 Coal Dealers. CART & CO. Offlce Phones 9S-119: Yard Phones -H4 Dry Cleaning. NAT ION AIL. TRY Ifi East . Garden St. CLEANING CO. Phone 2S1. Druggists. THE CKNTRAL PHARMACY 100 f omh Palafox. Phones 177-178 THE CRYSTAL PHARMACY 35 South Palafox. Phones 921-922 D'ALEMBRRTE'S PHARMACY 121 South Palafox Phon 1ft! Electrical Supplies PEA1CE ELECTRIC & SANITARY PLUMRINQ CO. SO 3. lalafox Street. Phone 343 BAROCO ET.El'TRIC CO. 17 TVsst Garden Street. Phone ll LEE'S ELECTRICAL CO. Electrical Supplies Phone? 1674-2093. 100 X. Palafox St RKED BINGHAM Housn Wiring, Electrical Supplies, Contractor. Phcne 2075 Box 233 Florists. MRSV NELLIE M. BOYSEN The Only Down Town Elortt. 1? Weft Garden Street. Phone 1800 NORTH HILL GREENERY Greenhouses. 919 N. Bav!?n St. Phone t7 flower Stop, 9 W. Romana St. Phone 23 Central Trades Council PENSACOLA TRADES AND LABOR COUNCIL R. D. LaMONT, Sec, Box 88. Foundries. BAY SHORE FOUNDRY ' CO.. Sll West Main Street. Fhone C71 Groceries. MRS. THELMA FRENCH Groceries and Soft Drinks Phone 2263. Chase and Eighth Ave. MRS. L. TV. VAN METER Groceries. 9th Ave. and Strong. Phone 1C37 ' CRAY GROCERY CO. 429 West Jackson Ht. Phone 1IS 600 K. WriKht BL NICK VAfiSO Fruits and Groceries. Phone 47S Horscshoin a. A. BRIGOS Practical Horseshoer 16 W. Intendencta Bt. Phone 622 Ice Dealers. 106-10 PENSACOLA ICE CO. N. Tarrajrona. Phones 59-259 Job Printers. MAYES PRINTING CO. 15 Wwf Government St. Phone 111 aundry. THE PERFECTION LAUNDRY Dry Cleaning and Steam Vreesing Phone 18 Motor Boat Supply Store. PENSACOLA GAS iSWGINB ft m SUPPLY CO. 713 S. Palafox St. Phone 627 ... ...GVLF. MACHINE WORKS 813-817 South Pwlafcx Phones 163-14M Market and Grocer. T JPH; CliE.sSES. GROCER 924 N. Davis Street. Phone 422 TONY CLEVRO i" r ?ITUS CAR VEX GROCER t20N. Oulllemarde. . Phone 1544 B. B. MARKETS 319 N. DVinir Street. Phone 947 Meat Markets. B TilE PARLOR MARICET 514 South Palatox. Phones 173-174 Merchant 'lailors. DAN BROWN. MERCHANT TAILOR CO. Expert Steam Cleanwigr and Dyelni. Suits Pressed Sc Music Stores. CLUTTER MXTSJIC HOUSE 114 Rowth PMafox StreeL Phone 15 Jsewspapers. THE PENSACOLA JOURNAL Dally- Weakly-Sunday Phones: Editorial, S: Business, 1500 THE PENSACOLA NEWS Evenin Except Sunday Phones: Editorial 454; Business, lit Optician. DR. T. a. E-roert Optician. YATES Fisher Building Painters, Paper Hangers. . E. B. WELLS 12 Ervt Oovomment. Phone 773 Total $200,000.00 If financial arrangements are mad for above amount of $200,000.00 and bona fide subscriptions, or cash, is cer tified to the United States Shipping Board, Emergency Fleett Corporation, then the construction contract becomes immediately effective, and they will ad vance the $450,000.00 or as much there of as necessary, for the construction of the dock. The construction of the ad- ( dltional shop facilities to progress as t work on dry dock progresses. This will make a total investment, exclusive of dry dock, of $327,550.00 and a working capital of $50,000.00. This total investment is to be placed be- j hind the issue of stock as follows: ! The company agrees to issue' $200,-J 000.00 of 6 per cent, cumulative pre- j ferred stock, annual dividends, with- ; out voting power, redeemable at any j time after two years by paying: share ' . holder 105 for each 100.00 and accrued dividends. The company further agree- 1 r ing that the holders of the preferred stock fchall be entitled to receive anT the corporation shall be bound to pa thereon 6 per cent, cumulative dividend' each year before any dividends shall ; , be set apart or paid on common stock; i I also the holders of the preferred stock In the event of any distribution of j I assets of the company to be entitled ' to have their stock redeemed and paid ' ofT at par before any distribution shall ! be made to the holders of common stock. The company also agrees that with out the consent of a majority of the preferred stock then outstanding the company may not create (1) any mort gage on the property of the company, j any issue of stock having n PKotographers. ... . CHAS. COTTRELL Restaurants. ... ANGELOS DAIRY LUNCH omn HiiaroT Ftr, Phone 802 Shoe Shops. 11 'V. , 4 -i . 5 v Opportunity To Key That the small investor, the man of limit ed means, has implicit confidence in R. J. Brewton, has been daily demonstrated the past few days, by the crowds that have call ed at the office of the' Oklahoma Star Re firing Company, and made purchases of stock in that company. Mr. Brewton, who reserved some of the stock for the man of small means, is glad to announce that his efforts to care for the small investor are being appreciated, and he knows these investors will never regret hav ing purchased the stock. Mr. Brewton wishes to state that the books of the company will close Saturday afternoon. It would be well for all who can spare $10.00 or $25.00 to call and secure stock in this compapy. It must be remembered that Mr. Brewton will not sell stock to any one person in excess of $100.00, as he wishes to distribute the stock among as many as possible. Books Close Saturday nor (2) priority. i.C ll jJ llii '0 -iJi.il S Co. VR. J. BREWTON, President oil: American National Bank Building SAM CHARLES - Shoe Maker Palafox and Main Sts. Phone 514 in, -J05T ,WAR REPAIR SHOP 1021 N. Davis Street. Phone 61f CHATTMAN'S ELECTRICAL SHOE For City Quality at V;iai?e Prices Warrinsrton. Fla. " Ship Chandlery, A. ZELTT7S nt a , , Shfp Chandler.. 711 s. Palafox St. Phono 13$ Taxi Service. V. Q. VENTURA A , Taxi Serr'ee. East Garden St. Phone SO? Bob's Tax! Phone 333 Service Day and Night 16 West Garden Tin Workers. . N- A- cox- tin SHOP 510 S. PrJafox Sreet. Phone 41J Tailoring. KINO TAILORING CO Builders of Fine Fitting Clothes S3 South Palafox Street Trained Nurses. Rerlstery of Trained Nnrses at White's Pharmacy. Day Phone 180. Nifrht 44S , . Turkish Baths. PENSACOLA HOSPITAL. Phon UMBRELLAS AND PARASOLS REPAIRED Work Guaranteed J C. Toun 10! E. Greg Wholesale Grocers. CONSOLIDATED 201 E. Garden St. GROCERY C. Phone 1719 RAP OVER LELAW LAWYERS SC IN HOUSI LAND TIT BY JOHN C. TRICE. Tallahassee, June 6. One of th3 prettiest ecraps the house had during the session was that of Mr. Mathis, of Holmes, opposed by all the other law yers in the house, save one, over the passage of the house bill providing for the legalization of all deeds of con veyance to real estate, if they be drawn Jn good faith under the laws of other states of the union. At the very outstart Mr. llathis de clared if he were, acting from a personal standpoint, he would oppose the bill for the reason that it would make some inroads upon the income of the fra ternity to wheih he belonged, the law yers. The necessity for such a bill, however, he declared outweighed any consideration of this kind, it was need ed to clear the titles of many of the land owners in the state, and that fact outweighed every other consideration with him. The bill was attacked by all the other lawyers in the house, with the lone exception of one, as one of the most dangerous pieces of . legislation this house had been called upon to act. It was pointed out by one of the letjil fraternity that it was dangerous be cause if a man was applying for divorce in this state, it would be possible for the owner of large holdings to step across the Georgia line, where the wife if not compelled to Join with the hus band In the sale of real estate and transfer all his holdings to defeat the ends of Justice. Another arm of the legal fraternity pointed out that in case this bill was passed. It would be necessary for ail the lawyers of the state to keep posted as to the laws of all other states on the subject of transfers of realty as well as the constantly changing sys tems in the various states. To all these faults found with the Tall Mr. Mathis replied that it was impos sible to find or construct a law that would suit everybody or protect every body. That the greatest good to the . greatest number was the only safe rule , Mr. Perry, of Lee county, said it was ' his opinion that the bill was a good ; one to pass. The mere fact that most of the lawyers were so "set" upon its defeat strengthened his belief that it was a mighty good thing for the lay men in the house to vote for. He then recounted prafieally his own experi- j ences in Florida while he was a rcsi- j dent of another state, saying that he ) had paid something like five hundred dollars for that experience of others. With all this, however, only 23 votes could be corraled for the bill while four more, or 27 voted against it. left for the navy yard at 6 p. m., on the sub-chaser, and when they re turned at 10:20 p. m., refreshments were served on board. Those who had witnessed the performance in . . .. I1L'.. town say that the youn people ex ceeded themselves last night in their presentation at the yard. Much credit is due the young people and Mrs. Benn, who coached the opera. Ton art 9 pi T (TO p Undertakers. NORTHUP at wooo. Undertakers West Xnteodenda St. Pfcone IS. Booze is Not a Good Cure. From the Ames Iowa Intelligencer. ' When a man comes to you all doubled up with pain and declares he will die in your presence unless you procure him a drink of whiskey, send aim to a doctor or else give him a dose of Chamberlain's Colic and Diarrhoea Remedy. There is a mis taken notion among: a whole lot of people that booze Is th best remedy SCHOOL OPERA IS WELL RECEIVED AT AIR STATION The Pensacola high school talent which recently presented the opera, "Behind the Front,'' in Pensacola, re peated the performance at the naval air Station last evening under, the auspices of the War Camp Commun ity Service, The members of the cast PASTIME THEATRE LOBBY We are serving KRATZERS ICE CREAM. This cream comes direct to U3 from Montgomery, Ala., fresh every day. THE ICE CREAM DE LUXE Try it and be convinced. In buckets to take home at a special introductory price for SATURDAY AND SUNDAY ONLY Pints, 25c; Quarts, 50c. Jkjlr ?'" ' , ..-x&i.jtr jo.svZ., I?' '', '-'ri ' ' l-fii-1- - i unit. I il f lilin I Tin flit I. jL ' fK3 : : l Upside down, its winxs floating just visible below the surface of the Water, the Shortt airulane in which Major Wood attempted a flight from England to America i3 here seen being towed ashore after it fell Into the JCorth sea. Wood and his assistant were uninjured and expect to sta rt ag