Re: Wood this be a fast boat?
It looks like it would be a very wet boat. The high cabin could indicate it was built more for comfort than speed, but she does have less wetted surface than most boats of her vintage.
But having owned a wooden William Hand gaff ketch built in 1909, which I sailed through the South Seas for 5.5 years, captained of one built in 1906 and have crewed on several wooden vessels built before 1900, I would suggest you think quite seriously about investing in an older woody. The art of bringing of a boat like that back and taking care of her is fast disappearing. I recently met a graduate of a prestigious New England wooden boat building school who was apparently taught to put the oakum into the seams after the cotton; 100% wrong!
If you have the skills, money and patience, by all means go for it and you may end up with a vessel no plastic or metal boat can match in sea kindliness and richness.
"Any idiot can make a boat go; it takes a sailor to stop one." Spike Africa aboard the schooner Wanderer in Sausalito, Ca. 1964.