The ship that bankrupted Laings

A lot of very interesting information about her on this link.

http://www.nhcra-online.org/20c/cyclops.html

She was Laing's Yard number 609, Launched on the 27th October 1905 but not compleated until October 1907.

Her conversion into a Repair Ship resulted in a loss of £100,000 for Laing's.

Similar loss's were made on three Italian ships as well.

Another view of CYCLOPS, kindly sent to me by Ellis Trautman in Australia.

I have the loss more like £40000, but even that is a large sum by the standards of the day, as you could an entire 4000 grt cargo vessels for that price. Laing unwisely took an interim profit on her of £6150 into their 1906 accounts. Little did they know what was to come....