The steel furnished by these different works, subjected as it has been to systematic and severe tests continually applied, is now possessed of the qualities of ductility, malleability, and homogeneity, which render its employment in shipbuilding not only permissible but highly desirable. Its good and reliable qualities have been admitted by the Constructors of the Navy, the Officers of the Board of Trade, of Lloyd’s, and of the Liverpool Registries, as well as by all the most competent authorities. The experience of all who have practical dealings with the material in the shipyard is that it entirely satisfies—even more than iron—all the requirements of easy manipulation. The confidence with which it can be relied on, as to its certain and uniform qualities, places it on a much higher level than the steel formerly manufactured; and its superiority over the best wrought-iron as regards strength and ductility renders it a highly preferable material. While doubt exists, however, as to the adoption of steel for shipbuilding being commercially advantageous; there must be hesitancy on the part of shipowners and others concerned. Although, since its introduction, mild steel has been greatly reduced in price, the first cost of a steel ship is still somewhat over that of an iron one, even after the reduction in weight of material is made, which the superiority of steel permits of. It has been shown that, about two years ago, a spar-decked steamer, of 4,000 tons gross, built in steel, as against a similar vessel built in iron, entailed an excess in cost of £3,570. The advantages, however, which accrue from the change, both immediate and in the long run, make the gain clear and considerable. Steel ships have been built with scantlings reduced one-fourth or one-third, and in some early cases even _one-half_, from what would have been considered requisite had iron been employed. Some authorities, not unnaturally, questioned the wisdom of accrediting steel with all the qualities which make such sweeping reductions justifiable. Except in vessels for river or passenger service, however, this is much in advance of the reductions obtained in ordinary modern practice. The reductions allowed in vessels built to Lloyd’s requirements—and it cannot be urged that this society is too reckless in concessions of this nature—are 20 per cent. in scantling, and 18 per cent. in weight. As it is impossible to adjust the scantlings of material to take the full advantage of these reductions, and further, as allowance has to be made for extra weight due to the continued use of iron in vessels of steel—for purposes not essential to structural character—the average weight-saving effected in practice is about 13 to 14 per cent. This represents, in the finished vessel, a clear increase of at least 13 per cent. in dead-weight carrying power. The gain obtained in general practice has been otherwise stated on good authority as 7 to 7½ per cent. of the gross tonnage.