The Manitowoc tribune. [volume] (Manitowoc, Wis.) 1866-1878, 1875-01-21
OUTLOOK FOR THE FUTURE.


Of navigation, wears a Frightening as
pect, and the freights promise to be re-
muneratlve for the next years business.
There is some lumber firm across the
lake that has offered some Of our vessel
owners a remunerative freight for the
coming season, with an advance on last
years rates, which has not been accept
ed sor the reason that the coming sea
son will be one Of ordinary trade. It is
not known generally, that the amount
of tonnage on the lakes the list of Janu-
airy, 1915, was over 300, 900 tons less
than January, 1874; such is the fact,
according to the custom-house register
Of tonnage, There is no new tonnage
building, and there are not vessels en-
ough at the western lake ports to carry
of the surplus grain stored on the lines
OF railroads that connect with hIilwaU-
kee and Chicago. The owners Of many
vessels have purchased their own car
goes, on which they Will clear hand
some profit in the spring, for the reason
that they purchased their cargoes at a
very low figure. Not much can be lost
at the price Of SIC currency for No. 2
European freights seems to increase, as
AldU VI tilt SdllstttlcI1 fCSoCl CN1It'~ ti4C
already chartered for trip across he
ocean, at figure that viii amply repay
them for the venture.
The efforts Of many vessel-owners to
enforce retrenchment among their YES
sells, viii have the effect of cJlr5ailing
expenses to the lowest figure, while
many that could not clear expenses last
summer, by means of this retrenbh-
than they did last year IL many. There
are very few of the vessels laid up at
Racine that have made any money-sonne
of them are from two to five hundred
dollars in debt, whilst many have no
margin left TO pay for the bills that
were made for the spring outfit. 10
counterast this again, we have vessels IN
orr creek that have cleared over and
above all expenses, over fifteen per cent,
for the year, Including the time they
lay up; that is, from the first OF April,
1874, TIL the first of April, 1875, they
have made clear of all expenses fifteen
per cent. on their value, according to
the insurance rates. This applies to the
moderate vessels, while the largest class
viii have TO wait their opportunity to
avail themselves of the chance to recruit
their lost fortunes.
While we raise no theme for specula-
ton, or afford the most sanguine the
hope of realizing as independent for
tune, yet we say that the season Of 1875
will be similar to 1861; that is, there
Will be enough for the vessels to do and
allow them moderate freight that viii
pay their owners a dividend that viii
easily SATISFY the craving OF the needy
and give to the vessel business some OF
the old stamina for paying their way;
perhaps they viii earn more than we
dare now anticipate. The bulldog tena-
city with which the owners OF vessels
hang on to their property, is q sign that
they expect those that can weather the
financial difficulties Of the present, will
be amply rewarded in the future, for the
reason we have all realized that the dull
season Of 1860 brought forth the ex-
traordinary season OF 1856, while the
dull season Of 1867 brought forth the
extra good season OF 1872. So we say
ROW, that the dull season of 1874 shall
bring the extra good season of 1877; the
exact year is above our comprehension,
but yet, as sure as the sun rises and sets,
SO sure the laws Of demand and supply
regulate all things-sO sure as the law
Of demand shall overcome the law OF
supply, the demand for vessel property
shall increase, and by the time the next
general semi decade of depression exists,
the new Welland canal will be ready for
business; then we will be all ready to
ship our surplus tonnage to Europe.
When that day arrives, the trade shall
be within more conservative bounds,
and the huctuation shall cease; then
vessel property shall become a more
staple investment than what it now is.