Wichita daily eagle. [volume] (Wichita, Kan.) 1884-1886, 1884-08-07
MONEY LOST ON SHIPS.
a shipwreck the Most Profitable
Thing for an Owner.
Ship Merchanfs' Old Signs.Kerosen
she Chief East India Cargo.
The Figures OF Profit
and Loss.

New York SUM-
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 pano-
rama In a Broadway window to a three-for-a-
quarter hash placard in a cheap restaurant
each conveying the impress Of artistic promise
to the persons 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
OIL by the wind and storm, leaving only
faint outline Of the letters in black or gold
on coffee brown background. which
might once have been either white
Or black, for all passing irspec-
ton VIII tell. The old signs which once read
| ~Howland & Aspinwall," and -Grinnell, Min
turn q Co have been wholly obliterated
Like wine, or like choice meerschaum pipe,
the old signs gain value with increased age
To remove one Of 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"
genial old gentleman who can name the
products of every country on the globe can
tell the cost the demand 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 profits 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 shpowners
or else the shipyards would be idle" suggested
young HAN TO one of the pleasant old
brokers.
Some ships pay, of course, but at best the
profit is not large"
What freight win a good East India ship
receive now.r
The chief East India cargo is kerosene oil
in ten gallon cases, which weigh eighty-four
pounds each A large ship will carry say
1900 cases. The largest cargo on record
was carried by the iron ship Lord Wolseley.
She took l0l 900 cases out The great
majority of ships carry about half as much
that We sent out bark with 10000
cases not long ago She got 2615 cents, or
slo, gross If she is lucky she viii get
jute or sugar bacl: at say 81. She will bring
], 800 tons o. SIC, 800 gross, and she will earn
it in year.
"A ship like that costs $4,000 and s2l. 900
is a small gross income. Out of this sum of
So, 900 she has sundry expenses which will
astonish you, perhaps. For a crew
she carries captain, two mates,
cook, an1 fourteen men. The captain
gets $50 month, and per cent.
of the gross freight money, or Slab for the
year. The first mate will get 5000, the sec
ond mate, $42G; the cook, $3.50, and the four
teen men viii get 1850; or "A total of Sc, 215
for wages To feed them will cost 50 day,
or s3,2s5 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 IL
cents a case for slowing the oil, and 81 cents
a ton for discharging the return cargo
total of s.. 225. The brokerage on the cargo
out is ) per cent, and back per cent. or
81 ,2G5. Port charges at Shanghai are 3 cents
a case, or 81 200. Pilot fees will amount to
$500. Then we have insurance at per cent,
So 800; annual deterioration, per cent. So |
500; tonnage tax at 30 cents a ton, $500; and |
interest on investment at per cent, 81, co., |
is that all:"
There are a few small incidentals Oh, | |
forgot the ship chambers bill II was |
s., 900. That's all that's worth counting
The young man had jotted down the SUMS. |
They aggregated for the year So, $50.
That's just about it. :" said the broker, with
a faint smile. You cannot make a more fa-
vorable showing, because you have estimated
the insurance at low rate, and the return
corgo is always matter of some doubt Be-
sides, a year is good round trip You see,
the owner is 81 500 or $4,000 out of pocket
why does he build new ships, them
Give it up"
do all these ships sail at a lossT'
That one was only of 900 tons register.
Take ship registering 1900 tons, and she
Will carry 5000 cases OF oil out, and will
ring back 5000 tons Of cargo Her freight
viii amount to about $4,000, while her ex-
lenses over those of the bark of 1000 tons
will be about $4,000, leaving a clear profit
If Si 900 on an investment of $4,000, pro-
riding that she has ordinary good luck The
,est luck that could happen to the owners o,
he bark would be wreck when she was
ully insured"