This illuminating article might explain why short cuts were taken in the construction of the Waratah. The wishlist for the flagship stretched beyond the budget price of 139 900 pounds. The result? Lack of adequate heat insulation, engine room (fire 1908); 'boltheads broke loose'; 'wooden structure moving bodily athwart the ship'; 'saloon door separated from the ironwork'; 'the gear of the aftermast became loosened'; 'a steel ladder spanning three decks snapped in two' etc.
It might also explain why structural modifications were not carried out on Waratah's return from her maiden voyage. The Lunds had to keep the original steamer in operation come what may until the financial crisis lifted?
This article also ties in with the important controversial issue whether there was significant gold on board Waratah during her final voyage. A previous post reinforces the comment made about 'the American financial crisis' and explains why there could very probably have been gold on Waratah, despite relatively low production during 1909: