Major Decision in Titanic Bankruptcy

The bankruptcy proceedings of Premier Exhibitions have been lumbering on for a while with not much to report on. But on 17 August a major decision was made. Premier decided to put up for sale a certain set of artifacts known collectively as the French Artifacts. These artifacts were brought up as part of a joint project but were excluded from the salvage award currently in place as they were property of the French government.

Premier filed to put these up for sale. Papers were served on French Embassy notifying them of the claim and their right to challenge it in court. Well they did not do so. As a result a default judgment has been entered against them with a finding that France had no interest in the French Artifacts. After some formal paperwork is done, the next step will be to come up with a satisfactory method of auctioning them off so that debts can be retired and creditors paid.

The artifacts covered under the current salvage award are unaffected by this decision.

 

 

Premier Exhibitions Update: Artifact Bidders Confirmed

Titanic Leaving Queenstown 11 April 1912. Believed to be the last photograph of ship before it sank.
Public Domain

Premier Exhibitions has confirmed it has received multiple letters of intent to be a stalking horse bidder for its assets which include the Titanic artifact collection. Both the company and the equity security holders committee will assess the bidders qualifications and announce on 25 September 2017 who the stalking horse bidder will be. An auction, if needed, will occur by 30 November 2017 and other bidders will be able to bid at that time.
Source: Premier Exhibitions Titanic Artifact Bidders Confirmed (bankruptcompanynews,26 Jul 2017)


Queen Mary Titanic Exhibition

RMS Queen Mary, Long Beach, CA
David Jones from Isle of Wight, United Kingdom
derivative work: Altair78 (talk)

Queen Mary is hosting Titanic in Photographs-The Exhibition. The exhibition has photographs that span its beginnings until it sank in 1912. According to Long Beach Press Telegram:

Located in the stern of the ship, next to the Engine Room, the new educational gallery area features over 100 images that document the ship-building process through completion, immersing visitors on a journey through the Titanic’s luxurious amenities, from its staterooms and First Class Lounge to the Turkish bath, swimming pool, and Grand Staircase. The photos are paired with dozens of artifacts — like silverware, crystal, and china — from the Titanic, as well as from two sister oceanliners, the Olympic and the Carpathia.

The exhibition opened on July 4 and will run till July 2018. For information on hours and tickets, go to www.queenmary.com/tours-exhibits/titanic-in-photographs


Casablanca-As Time Goes By

Friday is here and time for a musical interlude to welcome the weekend. Casablanca (1942) is one of the top 10 American movies of all time. It had great acting, a compelling story line, and some great music such as As Time Goes By sung by Dooley Wilson. Most of those involved in the movie thought it would be rather ordinary run of the mill movie that would likely be forgotten in a year of so. But world events, namely the invasion of North Africa in 1942 by the Allies propelled this movie into the realm of great movies. If you have not seen it, you should.


IL Duce Gets The Boot

Benito Mussolini
Public Domain

On 25 Jul 1943, the long time Fascist dictator of Italy Benito Mussolini was deposed. He was deposed by his own Grand Council who had come to believe he was no longer able to govern. Italy had suffered a string of military defeats and the war itself was unpopular with large portions of the population. Mussolini himself appeared tired and overwhelmed by the military failures. Power was transferred to the king and Mussolini barely reacted to what was going on. A few tried rallying support on the council for Il Duce (the title he had given himself as fascist leader)but he appeared unable to choose a course of action. When Mussolini attended his routine meeting with King Victor Emmanuel III, he was told that General Pietro Badoglio would become prime minister. He was arrested after leaving the meeting. News of his dismissal was greeted with enthusiasm by most Italians. In public Badoglio said the war would continue but secretly he was negotiating an armistice with the allies which was signed on 3 September 1943. He also dissolved the Fascist Party.

Aftermath
Germany would invade Italy after it signed an armistice with the Allies in September 1943. Mussolini would be freed by German paratroopers, brought to Germany, and then sent back to rule from Lombardy in the newly formed Italian Social Republic. Meanwhile the Badaglio government, which had fled south to Allied controlled Italy, declared war on Germany. Northern Italy would remain under German control until April 1945. Mussolini would later be captured by partisans and executed along with his mistress trying to flee certain Allied capture on 26 April 1945.

History Channel-This Day In History
Bibliography.com-Benito Mussolini


SS Eastland Rolls Over:800-850 People Drown

SS Eastland circa 1911 Photo: public domain (Library of Congress)
SS Eastland circa 1911
Photo: public domain (Library of Congress)

On this date in 1915, the passenger ship SS Eastland rolled over while docked in the Chicago River. 844 passengers and crew were killed making it the largest loss of life from a shipwreck on the Great Lakes.

The SS Eastland was owned by St. Joseph-Chicago Steamship Company and was launched in May 1903 . Problems were discovered from the start. Design flaws made it top heavy and its center of gravity was too high. When lots of passengers congregated on top deck, the ship would list. While some modifications fixed issues, there were still listing problems. SS Eastland also achieved notoriety in August 1903 for a mutiny by the ships firemen. On 14 Aug, while traversing between Chicago to South Haven, Michigan some fireman refused to stoke the fires because they had not received their potatoes. The captain ordered the men arrested. Two firemen who did not participate in the mutiny had to stoke the fires until they docked. The six men were arrested by the police and later the captain was replaced.

Source:The Tacoma Times (http://chroniclingamerica.loc.gov/lccn/sn88085187/1915-07-27/ed-1/seq-7/) This image is now in public domain.
Source:The Tacoma Times (http://chroniclingamerica.loc.gov/lccn/sn88085187/1915-07-27/ed-1/seq-7/)
This image is now in public domain.

On 24 Jul 1915 the Eastland and two other passenger steamers were chartered to take employees of Western Electric to a picnic in Michigan City, Indiana. For the workers, it was a major event since many did not take holidays. Boarding began at 0630 and by 0710, the ship had reached its capacity of 2,572. The ship was packed and passengers filled every possible place on the upper decks. The ship had already begun to list to port and the crew tried to balance the ship using the ballast tanks. That did not work. Numerous passengers passengers apparently rushed to the port side making it worse. At 0728, the ship lurched sharply to port and rolled over to rest on the river bottom twenty feet below the surface. Because so many were below decks to keep warm, they were trapped by the sudden rollover. Heavy furniture-pianos, bookcases, tables-crushed many inside.

The Kenosha responded immediately and came aside to allow those stranded on top to jump aboard. But for those trapped below, there was no rescue. The bodies were retrieved and taken to temporary morgues.

The president and three officers of St. Joseph-Chicago Steamship Company were indicted for manslaughter. The ship’s captain and engineer where charged with criminal carelessness as well. However during an extradition hearing (all six were in Michigan and had to be extradited to Illinois to stand trial) the federal judge believed there was not enough probable cause citing lack of evidence and refused to extradite. He further said the captain and engineer were merely doing their jobs.

Ironically because of the 1915 Seamen’s Act passed after Titanic’s demise, the additional weight of the lifeboats probably worsened the top-heavy issues of the ship.

A historical marker along the Chicago River marks the event. Plans are also underway to construct an outdoor exhibit where Eastland sank.

Eastland Goes Navy
The Eastland was raised and sold to the Illinois Naval Reserve and commissioned USS Wilmette . She was reconfigured as a gun boat and primarily used for training. Her only action came after the war when she was tasked with sinking a captured German U-Boat in 1921. Most of her career after that was training naval reservists. In 1941, her training duty was altered to train naval armed crews on merchant ships. Her most prestigious task was to take President Roosevelt and others to Whitefish Bay to plan war strategies in 1943. She was decommissioned in 1945 and sold for scrap in 1946.

Sources:
1. SS Eastland (Wikipedia)
2. Eastland Memorial Society
3.Eastland Disaster Historical Society

Titanic Weekly News Roundup

August is nearly here and summer is in full bloom. Titanic news has been quiet. There are still news stories out there about the Premiere Exhibitions bankruptcy and the possible sale of Titanic artifacts.  Analysts hope Premier  is able to get out of the hole it is in. Ditto for the shareholders who are hoping that at long last perhaps the company will get back on track.

Of course the debate raging in some circles is over Titanic artifacts. Premier has a difficult time trying to sell them before as the salvage award restricts their sale and it comes with restrictions for the buyer. James Cameron is diving into the fray trying to raise money to buy them. The best outcome might be for some government or government backed entity to buy them. The huge price tag keeps most museums and institutions from really pursuing the matter. Of course all bets would be off should Premier decide to liquidate rather than reorganize.  And no one is talking about that right now.

The International Ice Patrol has for a long time depended upon planes to spot and help track icebergs. Their work is very important for everyone who transits across the North Atlantic. And thanks to their work, the threat of icebergs to ships has been greatly reduced. Now they are making changes. Instead of flying planes as much, the Ice Patrol is implementing the use of satellite technology to detect and monitor icebergs. The problem though is that satellite images only detect icebergs only 50% of the time compared to using planes. For the moment a combination of planes and satellite images are going to be used to monitor icebergs. (Keeping an Eye on What the Arctic Throws Down Iceberg Alley,newsdeeply.com,21 July 2017)

Molly Brown was one of the people that became well known after Titanic sank. Her 150th birthday was recently celebrated at her home in Denver, Colorado. As befitting her style, it was celebrated as a block party. Food, entertainment and tours of her home (now a museum) were done. She was quite a gal.

Have a great Sunday everyone.


Weekly Titanic News Roundup

Plaque To Commemorate Hatfield Man Who Died On Titanic(Welwyn Hatfield Times,15 Jul 2017)
The council’s Blue Plaque Scheme aims to promote the recognition and awareness of people, places and events which have been of lasting significance to Hatfield. Town council leader Lenny Brandon said: “I’m extremely pleased to introduce this exciting new initiative to Hatfield.” It is hoped that Joseph’s official plaque will be unveiled in the town later this year.Further details about the scheme can be found on the council’s website www.hatfield-herts.gov.uk

£28 Million Titanic Hotel Unveiled(Irish Times,5 Jul 2017)
Harcourt Developments is behind the 119-bedroom Titanic Hotel Belfast in the former Harland & Wolff drawing offices, where the plans for the Titanic itself were dreamt up in the 1890s. It will be the eighth hotel in the multi-million pound company’s portfolio, sitting alongside a collection of properties in locations from Liverpool to the Caribbean. Harcourt – who’ve been front and centre of the Titanic Quarter regeneration over the last decade – flung open the showpiece hotel’s doors to the media ahead of letting its first overnight visitors (rooms start at £160 a night) get their heads down from September 10.


Former Titanic Drawing Rooms Restored(BBC News, 4 Jul 2017)
A £5m renovation project has restored the historic drawing offices at Belfast shipyard where plans for the Titanic were made. The two arched rooms were at the heart of the old Harland and Wolff headquarters building.

Thousands Of Titanic Artefacts To Be Sold After Owner Goes Bankrupt (antiquestradegazette.com,4 Jul 2017)
Experts predict it is unlikely the court will allow a public auction and instead the items will have to be sold to an institution. However, if they were to come to auction it is likely UK auction firm Henry Aldridge & Son in Devizes, which holds regular Titanic memorabilia auctions, would be among the auctioneers considered for the job.

Titanic: The Artifact Exhibition Opens at the Prestigious Guangdong Museum in Guangzhou, China (Premier Exhibitions, 3 Jul 2017))
Premier Exhibitions, Inc. (OTCQB:PRXIQ), announced today the opening of Titanic: The Artifact Exhibition at the Guangdong Museum in Guangzhou, China. This remarkable 20,000 square foot exhibition, is one of the largest in the Company’s history, with more than 300 artifacts and brand-new room re-creations. This is the first time the Company has presented Titanic: The Artifact Exhibition in a Tier 1 museum in China. The exhibition opening was made possible through the generous support, assistance and presence of the Minister of State Administration of Cultural Heritage and representatives of the Department of Culture of Guangdong Province.


Happy Independence Day

A collection of public domain images of the American Revolutionary War, together in a montage.

Each year we celebrate the 4th of July by watching parades, grilling food, and watching baseball. We celebrate it because in 1776 leaders took a brave and radical course of action by declaring independence from the  premiere power of the day—Great Britain.

This was no small thing to do. The British were powerful and would respond by trying to crush the rebellion. Every person who signed the document know their very lives were at stake. And some did pay a price when they were captured. The War for Independence was not easy and faced great obstacles. It was no sure thing at all the rebellion would succeed. It did succeed only because of the determination of those fighting to be free of British rule. They wanted to govern themselves and not serve a country that did not respond to their grievances. The American War for Independence would inspire others to do the same.

But why did they rebel? The Declaration of Independence lays out the case to the world. This is not a snippet but the complete document. Sometime ago young people were asked about it and some thought it was The Communist Manifesto (1848). While that document has had an impact as well, the difference could not be more striking. The American Revolution brought forth a constitutional republic that guarantees citizens many rights. Governments that have been inspired by the Communist Manifesto and its supportive writings has resulted in Communist dictatorships that are hardly friendly to individual rights and regimes that have brutalized their people, and in some cases massacred thousands and even millions of those who did not agree with their policies.

=====
IN CONGRESS, JULY 4, 1776
The unanimous Declaration of the thirteen united States of America

When in the Course of human events it becomes necessary for one people to dissolve the political bands which have connected them with another and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn that mankind are more disposed to suffer, while evils are sufferable than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security. — Such has been the patient sufferance of these Colonies; and such is now the necessity which constrains them to alter their former Systems of Government. The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute Tyranny over these States. To prove this, let Facts be submitted to a candid world.

He has refused his Assent to Laws, the most wholesome and necessary for the public good.

He has forbidden his Governors to pass Laws of immediate and pressing importance, unless suspended in their operation till his Assent should be obtained; and when so suspended, he has utterly neglected to attend to them.

He has refused to pass other Laws for the accommodation of large districts of people, unless those people would relinquish the right of Representation in the Legislature, a right inestimable to them and formidable to tyrants only.

He has called together legislative bodies at places unusual, uncomfortable, and distant from the depository of their Public Records, for the sole purpose of fatiguing them into compliance with his measures.

He has dissolved Representative Houses repeatedly, for opposing with manly firmness his invasions on the rights of the people.

He has refused for a long time, after such dissolutions, to cause others to be elected, whereby the Legislative Powers, incapable of Annihilation, have returned to the People at large for their exercise; the State remaining in the mean time exposed to all the dangers of invasion from without, and convulsions within.

He has endeavoured to prevent the population of these States; for that purpose obstructing the Laws for Naturalization of Foreigners; refusing to pass others to encourage their migrations hither, and raising the conditions of new Appropriations of Lands.

He has obstructed the Administration of Justice by refusing his Assent to Laws for establishing Judiciary Powers.

He has made Judges dependent on his Will alone for the tenure of their offices, and the amount and payment of their salaries.

He has erected a multitude of New Offices, and sent hither swarms of Officers to harass our people and eat out their substance.

He has kept among us, in times of peace, Standing Armies without the Consent of our legislatures.

He has affected to render the Military independent of and superior to the Civil Power.

He has combined with others to subject us to a jurisdiction foreign to our constitution, and unacknowledged by our laws; giving his Assent to their Acts of pretended Legislation:

For quartering large bodies of armed troops among us:

For protecting them, by a mock Trial from punishment for any Murders which they should commit on the Inhabitants of these States:

For cutting off our Trade with all parts of the world:

For imposing Taxes on us without our Consent:

For depriving us in many cases, of the benefit of Trial by Jury:

For transporting us beyond Seas to be tried for pretended offences:

For abolishing the free System of English Laws in a neighbouring Province, establishing therein an Arbitrary government, and enlarging its Boundaries so as to render it at once an example and fit instrument for introducing the same absolute rule into these Colonies

For taking away our Charters, abolishing our most valuable Laws and altering fundamentally the Forms of our Governments:

For suspending our own Legislatures, and declaring themselves invested with power to legislate for us in all cases whatsoever.

He has abdicated Government here, by declaring us out of his Protection and waging War against us.

He has plundered our seas, ravaged our coasts, burnt our towns, and destroyed the lives of our people.

He is at this time transporting large Armies of foreign Mercenaries to compleat the works of death, desolation, and tyranny, already begun with circumstances of Cruelty & Perfidy scarcely paralleled in the most barbarous ages, and totally unworthy the Head of a civilized nation.

He has constrained our fellow Citizens taken Captive on the high Seas to bear Arms against their Country, to become the executioners of their friends and Brethren, or to fall themselves by their Hands.

He has excited domestic insurrections amongst us, and has endeavoured to bring on the inhabitants of our frontiers, the merciless Indian Savages whose known rule of warfare, is an undistinguished destruction of all ages, sexes and conditions.

In every stage of these Oppressions We have Petitioned for Redress in the most humble terms: Our repeated Petitions have been answered only by repeated injury. A Prince, whose character is thus marked by every act which may define a Tyrant, is unfit to be the ruler of a free people.

Nor have We been wanting in attentions to our British brethren. We have warned them from time to time of attempts by their legislature to extend an unwarrantable jurisdiction over us. We have reminded them of the circumstances of our emigration and settlement here. We have appealed to their native justice and magnanimity, and we have conjured them by the ties of our common kindred to disavow these usurpations, which would inevitably interrupt our connections and correspondence. They too have been deaf to the voice of justice and of consanguinity. We must, therefore, acquiesce in the necessity, which denounces our Separation, and hold them, as we hold the rest of mankind, Enemies in War, in Peace Friends.

We, therefore, the Representatives of the united States of America, in General Congress, Assembled, appealing to the Supreme Judge of the world for the rectitude of our intentions, do, in the Name, and by Authority of the good People of these Colonies, solemnly publish and declare, That these united Colonies are, and of Right ought to be Free and Independent States, that they are Absolved from all Allegiance to the British Crown, and that all political connection between them and the State of Great Britain, is and ought to be totally dissolved; and that as Free and Independent States, they have full Power to levy War, conclude Peace, contract Alliances, establish Commerce, and to do all other Acts and Things which Independent States may of right do. — And for the support of this Declaration, with a firm reliance on the protection of Divine Providence, we mutually pledge to each other our Lives, our Fortunes, and our sacred Honor.

——

Premier Exhibitions Bankruptcy Update

This and other Titanic artifacts could be yours! Appraised value is $240 million. All genuine offers considered. Contact Brent Williams at Lincoln International, bwilliams@lincolninternational.com , telephone (212) 257-7750 or Premier’s financial advisors, Marshall Glade, GlassRatner Advisory & Capital Group LLC, mglade@glassratner.com , telephone (404) 835-8844.

The story thus far: Premier Exhibitions, which owns RMS Titanic Inc, has filed for bankruptcy. A decision has been reached to sell the Titanic collection (the artifacts and intellectual property). One problem is the Titanic salvage award limits how those artifacts can be sold: as one collection. Past attempts to sell have failed because the price is too high. And now our story resumes….

Could a famous Hollywood director put together the money needed to buy the collection? The U.K. Daily Mail reports that James Cameron has begun a “secret” rescue mission to bring the Titanic artifacts to the U.K. He has apparently teamed up with Robert Ballard, the National Maritime Museum in Greenwich and the Royal Geographical Society to accomplish this. The figure being reported is £165 million.

Details of this “secret” mission were revealed at a court hearing last week by Ballard. Of course nothing is final and it is the very early stages. I doubt they will be the only party that will be interested. The Chinese would like to add it to their theme park and have money to spend as well. And there are investors in Dubai who also would not mind having the Titanic collection there as well that will draw in tourists. ave Vermillion, spokesman for RMS Titanic Inc, confirmed they have interest from all over the world.

Hopefully this time they will actually sell it to someone who will properly conserve it. The bidding war, if that is what it becomes, ought to be fascinating.

Source: Save the treasures of the Titanic! Director James Cameron launches top-secret £165m bid to rescue artefacts after shipwreck’s ‘owners’ are declared bankrupt (Daily Mail,1 Jul 2017)


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