NEWS
April 12, 1988 | WILLIAM C. REMPEL and MICHAEL WINES, Times Staff Writers
A little Danish ship that once served as "Ollie North's navy" was sold at auction here Monday in an effort to recover unpaid operating costs incurred by agents of Lt. Col. Oliver L. North, the former White House aide under indictment in the Iran-Contra scandal. But the selling price of $240,000 fell well short of covering the bad debts run up during the freighter's many futile voyages, and American taxpayers are almost certain to be billed for the difference.