Paddle Steamer Waverley was operated by Caledonian MacBrayne for the 1973 season. Waverley’s season came to an end after her final day in service on Sunday 30 September. The ship was duly laid up in Greenock’s James Watt Dock, but by November the normal winter refit and maintenance work had stopped.

Thankfully PSPS members Douglas McGowan and Terry Sylvester had established a good relationship with CalMac management and with John Whittle, Director & General Manager, in particular. The PSPS had chartered Waverley on her second last day in service with CalMac and had helped promote Waverley over the early 70s to convey her unique status as the World’s last seagoing paddle steamer.

Douglas was invited to meet John Whittle at 2:30pm on Thursday 22nd November 1973 and recalls the event . . .

“I can’t quite believe that 50 years have passed since that never to be forgotten meeting with John Whittle, General Manager of Caledonian MacBrayne in his office at Gourock on Thursday afternoon 22nd November 1973. When he told me that their parent company, the Scottish Transport Group had decided to gift  the Waverley to PSPS, I honestly couldn’t believe what I was hearing! John later described my reaction as a mixture of joy and trepidation. To this I would add incredulity and consternation. It was simply the most surreal moment of my life, one of those weird experiences when you’re not quite sure if you are having a dream or if it’s actually for real. On returning home later that afternoon, my wife Jean told me later that when she opened the door, I looked white as a sheet. She naturally assumed that John had told me they were having to withdraw Waverley from service due to harsh economics and thanks for all the support we had given them. Well, the first part was certainly true but……..

My friend and colleague Terry Sylvester had previously told me that he wouldn’t be joining me at the meeting as he couldn’t justify an 800 mile trip from south Wales  “just to be told we were being presented with the ship’s bell as a souvenir”. When I phoned him that evening, I told him that he was right about the bell “but we’ve got the rest of the ship as well”.”

Following the offer from CalMac Douglas travelled to London to meet with the PSPS Central Committee to convince them that there were no strings attached and the offer was indeed genuine. The vote was narrowly in favour of accepting the steamer and Douglas then wrote to CalMac to formally accept their offer.

The following letters from the PSPS Collection record the process to accepting Waverley for £1.

The hull inspection established that the ship was sound but some work would be required to return her to service. Throughout 1974 various meetings took place with some involving the Clyde Tourist Association and the Scottish Tourist Board. It wasn’t until 8th August 1974 that the legal exchange of ownership took place and the £1 note that bought Waverley was handed over.

It is planned to mark the 50th Anniversary of the £1 handover of Waverley with a special sailing on Thursday 8th August 2024.