The Hillsdale standard. [volume] (Hillsdale, Mich.) 1851-1909, 1857-05-19
HILLsDALE, MICH, TUESDAY, MAY I9sls57

v ooo
The valuc of the vessel is stated for the
purpose of estimating the charter, and the
value of the cargo to show the alnaunt of in
surance il would bo chargeable with:
Season policy ON same az per cent, 1900
Trip policy cargo, If Of graiD k per cent each
Ordinary wear rigging .ai Sc. for 200
"pss moths p w 1850
ro,,, s,DsO.e for the season. si925o
Or fraction less than $1,000 for each trip
for six trips, or about $4,l0 per ton down
cargo--if loaded both ways, one half this
amount. Now take the above amount, (less
one half the insurance, $1,000, which would
be saved by reduction in rato,) $4,000, and
divide by the number of trips by the canal
route, I6 trips, and we have the result $6S7
per trip, or less than $3.50 per ton-half
this amount if loaded both ways. This
shows saving to tho producer, in expense
of marketing his grain IN lake freight, OF a
bout s 80 per ton, after deducting say 80
to IOOc ler ton for toll and towing through
the proposed canal; or enough on the stuff
coming off Lake Michigan last year to pay
all the expenses and 12al5 per cent on the
cost of the canal. Lake freight on corn will
average 5a5t instead of 9al0c per ton MS
heretofore, and the aggregate saving by this
routo will bc 5000 per trip over all the cx-
penses of towing, toll, &c, DC.
The income Of the stockholders of this ca
nal would be derived mainly from moder.
ate toll, say about the same rate as charged
on the Erie canal per 1000 ID per mile; by
towing vessels by steam-tugs through the
same, and by the rent Of water power Great
ed by it. These items arc estimated to pro
duce AS follows. The grain shipped east last
year from points west of Sheboygan, on Lake
Michigan, was 27,OOO,O0O bushels; and the
rolling freight, flour, pork, beef, DC, was
if reduced to bushels by weight, equal to ono
half as much more, IA moderate estimate,
or l3,5OO, 900 bushels, or 40, 100000 in all
II is customary in all cases to charge as mucl
toll o, freight on merchandise, DC, going
West, as on frcsght going east, or more
Adopt these rules, and we have property, a
the present time, subject to Il, when reduc
ed to bushels, would yield an
Income Inc mr. to the Company -. $1,000 o.
Water fIom say 200 mill privileges or water
powers, $1,000 fVo,0
rot,,,rcoro s252oO
To be divided to the stockholders, less ex
pensc. DC. With trade before the prolec
tors and friends of this enterprise that ha
hceen doubled once in less than five years b
: its natural growth; with every prospect tina
il will continue to increase in the same rati
for 90, 80 or so years, il is fair TO preSum
that the income of the stockholders would II
croaso in like proportion: without taking II
to account that by chcapcnlng fteights .
would enlarge the field from which the su
plus would be drawn, and perhaps doubI
, auantity passing through it, in one year froI
the time it is finished
If these estimates are even approximate
correct, no further argument is necessary
favor Of the immediate prosecution OF Il
work. If this article were not already tC
D long, it would be easy 10 point out the -
: vantaccs that would result 10 the great NJ
. growing States of tho west; to the revenu
I of the Erie Canal; to the business OF Il
h prncipal lake ports, as wall as to the stoc
r holders of the canal. But we feel that
:, have discharged our duty in laying before Il
: pubic the estimates of the friends OF the nr
>, icct. What action is proper to he taken
Il business men, for procuring scientific surve
K and estimates, is a suitable subject for {
+ consideration Of the Boards of Trade OF t
principal lake cities.