If you think about it for a moment, the celestial navigation techniques available in 1900 were nowhere near accurate enough to position a ship within one nautical mile, let alone straddling two hemispheres. In addition, a position fix would only be valid at the time it was taken, and trying to steer an exact interception course via compass, in the face of wind and sea currents, is impossible.
Disclaimer, aviation related content: Exactly the same challenge was faced by bomber aircraft, until the advent of GPS guided weapons in the 1990s. The history of strategic bombing during WW2 indicates the enormous technical efforts put into place, with very limited effectiveness.
Personal note: My late father was a navigator seconded to the RAF during 1944-5. I'm sure he would have had stories to tell, but sadly did not live as long as Danny42C.