The Forest Republican. [volume] (Tionesta, Pa.) 1869-1952, 1884-09-17
MONEY LOST ON VESSELS.
THE OWNER Is IN LUCK WHOSE
SNIP FOUNDERS.
New York Ship-Owner who Takes
N Gloomy view of the Husiness-
Profits and Expenses.

A New York Ship-Owner who Takes
Gloomy View of the Rusiness-
Profits and Expenses.
A distinguishing characteristic Of
South street is the appearance of the
signs over the offices of the ship brokers
and merchants. New York signs are in
themselves a curious study, ranging as
they do from an expensive panorama in
a Broadway window to a three
quarter hash placard in a cheap restaur-
ant each conveying an impress of artis-
tic finish in its execution and of comfort
in its promise for the person for
whom it is intended. The sign
of the ship merchant is neither
artistic nor expensive. 1t is simply old,
so very old in some cases, that the paint
has been worn off by the wind and
storm, leaving only faint outline of the
letters in black or gold on a coffee brown
background, which might once have
been either white or black, for all pass
ing inspection will tell The old signs
which once read ''Howland & Aspin-
wall, and "Grinnell, Ninturn & Co.,
have been wholly oblterated. Like wine,
or like choice meerschaum pipe, the
old signs gain value with increased age
To remove them would give pain to
scores of gray-haired shipmasters, who
first saw them as cabin boys, fresh from
some coast or inland village.
( In these shipping offices the visitor
will usually find in the room marked
''private" a genial old gentleman who
can name the products of every country
on the globe, can tell the cost, the de-
mand for, and the value of each, and
the number of ships engaged in the
traffic. With this information, the visi-
| tor is pretty sure to be told of the prof
its once made by shipowners, and that
never, since ships began to sail the sea,
have profits been so small as now.
''Ships must pay some profit to ship
owners, or else the shipyards would be
idle," suggested young man to one of
the pleasant old brokers.
"Some ships pay, of course, but at
best the profits are not large
"What freight will good Last India
ship receive now2"
"The chief East India cargo is kero-
sene oil en-gallon cases, which weigh
eighty-four pounds each. A large ship
will carry, say 5000 cases. The largest
cargo on record was carried by the iron
ship Lord Wolseley. She took 10l, 900
cases out, The great majority of ships
carry about half as much as that. We
sent out bark with 10000 cases not
long ago. She got 26t cents, or $40, 600
gross. If she is lucky she will get jute
or sugar back at say 81. She will bring
1,500 tons or $40 500 gross, and she
will earn it in year.
ga ship like that costs $50, 900, and
S21, 900 is a small gross income. Out of
this sum of S21, 900 she has sundry ex-
penses which will astonish yon, perhaps.
For crew, she carries a captain, two
mates, a cook, and fourteen men. The
captain gets $50 amonth and five per cent.
of the gross freight money, or 81 AIS for
the year. The first mate will get 5000,
the second mate $420, the cook, $3.50,
and the fourteen men will get So, $50; ;
or total of So, ,275 for wages. To feed
them will cost 50 day, or $3,2S5 for
the year. 1t pays to feed them well, but
it could be done for less, of course.
Then out of the freight money comes
1t cents a case for slowing the oil, and
Ehirty-five cents a ton for discharging the
return cargo-a total of 81 1925. The brok-
erage on the cargo out is five per cent. and
back seven per cent. or 81, ,265. Port
charges at Shanghai are three cents
case, or 1900. Pilot fees will amount
to $780, Then we have insurance at five
per cent, 50, 500: annual deterioration,
five per cent, 50, 500; tonnage tax at
.hirty cents ton, $500; and interest on
investment at four per cent, $4,000"
els that all2"
''There are few small incidentals.
Oh, forgot the ship chandler's bill. 1t
was 50, 600. That's all that's worth
counting
The young man had jotted down the
sums. They aggregated for the year
$23, $50.
"That's just about it." said the broker
with faint smile. "You cannot make
a more favorable showing, because you
have estimated the insurance at a low
rate, and the return cargo is always a
matter of some doubt. Beside, year
is a good round trip. You see, the
owner is $4,000 or $4,000 out of
pocket"
"Why does he build new ships,
them"
"Give it up"
''Do all these ships sail at loss2"
"That one was only of 1000 tons
register. Take ship registering 2,2OO
tons, and she will carry $4,000 cases of
oil out, and will bring back 1000 tons of
cargo Her freight will amount to
about $40, 600, while her expenses over
those of the bark of 1000 tons will be
about $15, 900, leaving a clear profit of
S4, 600 on an investment of $11O, 900,
provided she has ordinary good luck.
The best luck that could haDpep to the
owners of the bark would be wreck when
she was fully insured"