The Manitowoc tribune. [volume] (Manitowoc, Wis.) 1866-1878, 1878-03-14
THE VESSEL BUSINESS.
OPINIONS OF LEADING VESSEL OWNERS
CONCERNING THE PRosPECT
FOR THE SEASON OF 1873.


The following review Of the prospects
OF vessel-owners for the coming season,
from the Milwaukee Wisconsin, will be
found interesting to the many owners of
vessel property in this city:
During the past few days a represen-
tatlve OF the Wisconsin has interviewed
several leading vessel owners of this pert
and chicago, for the purpose of com
pairing notes and ascertaining whether
their views IN any way contravened the
conclusions at which he had arrived
after careful study of all the surround
1ngs. He was surprised to find singu-
lar unanimity of sentiment in regard to
the prospects Of vessels during the
earlier portions OF the season. Chicago
ans, after their past experience, express
themselves prepared for a worse state of
affairs than has been encountered during
three seasons past. They say that re-
newal of railroad freight war at this
time has deprived them of even the
slightest hope previously entertained of
fair season. Still there is, in their
opinion. nieagre chance Of a revival
when the summer shipments of corn to
the seaboard begin, in June. But grain
fre1ghts must rule considerably above
those paid in the month of June last sea
son, To make good the loss that they feel
they will suffer on coal freights, as there
will be much less coal to carry the first
half of the season thanfor several seasons.
owing to the large amounts left in deal
ers' hands in consequence of the mild
winter; and that which does come for
ward viii be carried at very low rates,
perhaps as low as twenty five and thirty
cents per ton from Buffalo.
Several of the largest vessel owners of
this port frcely advanced the opinion
that nearly all of the larger class of
grsin vessels wintering here will not fit
out much earlier than the middle of
May or the first week in June, owing to
the small amount of grain in store, the
railroad war recently inaugurated, and
the barren prospect of return cargoes of
coal They are hopeful of fair freights
when corn begins to move toward the
seaboard, and express themselves salts
fed that vessels will enjoy short but
moderately profitable season after the
movement OF corn shall have been in
augurated.
IN reply to an inquiry concerning the
iron ore trade, Mr.. Merrill gave it as
his opinion that considerable more will
be carried this season than last, and in
fact for several previous years. There
has been marked decline in iron ore.
which will cause manufactured iron to
sell lower than ever befora known Ia
this country. Heretofore the iron-min-
ing companies have made money, not
withstanding the bard times, but here
after for season OF two at least, they
will have to content themselves with
smaller dividends. Mr. Merrill stated
further that iron ore freights will rule
throughout the season at 81. 40 per gross
ton from Marquette, and 81 from Esca-
naba.
Concerning vessel prospects generally,
ar MerFil o9prassea Q very hopeful
view. The new system of vessel inspec-
ton would. in his opinion, reduce the
grain-carrying tonnage nearly fifteen
per cent, while the iron ore trade will
4ithdraw many vessels of large size that
have, since the panic. been engaged III
carrying grain. He thinks vessels will
make fair return to their owners be-
fore the season is far advanced, although
the present outlook seems very nnprom-
iaing.
Mr.. Wolf of the firm of Wolf & DAY.
idson, who has been fortunate in most
of his guesses heretofore, steps in with
an opinion that will tend to equalize the
tinbs, yls: tnat grain IEeignts will rule
higher before the close of June than
they have rnled at any previous time in
three years. A correspondent of the
Wisconsin,, writing from Cleveland fur
nishes another piece of Intelligence
that must prove gratifying to owners of
sail vessels. He says that number of
steam barges and their coAsorts are
gn2er season charters to carry iron ore
from Marquette to Ashtabuia and Cleve-
land at 81 per ton, and names the
following: Hackett and eonsort Nc
Gregor; Forest City and consort Brown;
Wilson 4n4 eqpsGrt frank Perew: Chan
berlin and consort Martin; Superior
and consort Rhodes; Hale and consort
Bradley; Cormorant and consort Charles
Wall; Swain and consort Maxwell; Ohio
and c9asorts johnson. end Ryan. Here
is a fleet OF twenty-one steam and sail
craft, all of large size, that will not enter
the grain trade during the season; and
many of them have been engaged in the
trade almost exclusively heretofore.
The withdrawal cannot fail to make it.
self manifest should there be the usual
disposition to hurry grain to the sea
hsead when il sgaiinn begins to Ao~ into
the elevators from interior points.
Owners of vessels fit only for the
coarse freight trade, suoh as wood, lum-
Der, ETC., have even more reason to feel
Respondent than the owners of grain
vessels. It is now settled to the salts
faction OF every one who has cared to
inform himself, that the yield of lumber
will fall short from one third to one half