Evening capital. (Annapolis, Md.) 1884-1910, 1884-08-13
honey LOST ON VESSELS.
TIE OWNER Is III LUCK WHOLE
SHIP FOUNDERS.
a New York Ship-Dwner who Takes
n Gloomy view OF the business
Profits and Expenses.


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-and "a
quarter hash placard in 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 1t is intended. The sign
OF the ship merchant is neither
artistic nor expensive. 1t il 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 81 Aspin-
wall, and "Grinnell, Minturn &c Co,
have been wholly oblitcrated Like wine.
or like a choice meerschaum pipe, the
old srgns 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 shipowncrs, ana that
81 - II
have profits been so small as now.
Ships must pay some profit to ship
owners, or else the shipyards would be
idle, suggested a 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 East India
ship receive now?"
"The chief East India cargo is kero-
sene oil ten gallon cases, which weigh
eighty-four pounds each A large ship
will carry, say rs, 900 cases. The largest
cargo on record was carried by the iron
ship Lord Wolseley. She took 1Ol, 600
cases out. The great majority of ships
carry about half as much as that. We
sent out a bark with 40, 900 cases not
long ago. She got 26l cents. or so, 900
gross. If she is lucky she will get iute
or sugar back at say 81. She will bring
1900 tons or SO, 500 gross, and she
will earn it in year
"A ship like that costs $50, 600 and
$21 900 is a small gross income. Out of
this sum of $21, 900 she has sundry ex.
penses which will astonish yon perhaps
For crew, she carries captain, two
mates, a cook, and fourteen men. The
captain gets $50 month and five per cent.
of the gross freight money, or 81, Ais for
the year The first mate will get $500,
the second mate $420, the cook, $3.50,
and the fourteen men will get So, 360
or a total of SO, 215 for wages. To feed
them will cost 50 day, or So, 2S5 for
the year 1t pays to feed them we'll, but
it could be done for less, Of course
Then out of the freight money comes
II cents case for slowing the oil, and
thirty-fve cents ton for discharging the
return cargo-a total of 81, 225. The brok
crage on the cargo out is five per cent. and
back seven per cent. or 81, 800. Port
charges at Shanghai are three cents
case, or 81, 200. Pilot fees will amount
to 5000 Then we have insurance at five
per cent. So, 500: annual deterioration,
five per cent, So, 500; tonnage tax at
thirty cents ton, $500; and interest or
investment at four per cent, $1,000
els that ala"
''There are few small incidentals
Oh, forgot the ship chambers bill. 1t
was So, 600. That's all that's wort1
counting" -
The young man had jotted down the
sums. They aggregated for the yeas
SEQ, $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 low
rate, and the return cargo is always a
matter of some doubt. Beside, year
is good round trip. You see, tia
owner is 50, 500 or So, on: Of
pocket.
''Why does he build new ships.
theng"
''Give it up"
''Do all these ships sail at losS?'
THAT one was only of 1000 tons
register. Take ship registering 200
tons, and she will carry 75. 900 cases of
oil out, and will bring back 5000 tons of
cargo. Her freight will amount to
about $40, 900, while her expenses over
those of the bark of 1000 tons viii be
about SIS, 900, leaving a clear profit Of
81, 600 on an investment of $I10, 00n,
provided she has ordinary good la.:,.
The best luck that could happen to the
owners of the bark would be wreck when
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