The Middlebury register and Addison County journal. [volume] (Middlebury, Vt.) 1883-1885, 1884-08-15
MONEY LOST ON VESSELS.
THE OWNER IS IN LUCK WHOSE
SHIP FOUNDERS.
a New Work Ship-Owncr who Takes
Gloomy view of the Busincss-
PrOfits nnh ENnenncS.

Profits ana 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 and "a.
quarter hash placard in a cheap restaur-
ant, each conveying an impress of arts
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 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 e. Aspin-
wall, and "Grinnell, NIinturn e Co.,
have been wholly obliterated. 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 gen,aI 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 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 a good LAST India
ship receive nowW
"The chief East India cargo is kero-
sene oil ten -glllon cases, which weigh
eighty-four pounds each. A large ship
will carry, say IS, 600 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 bark with 40, 600 cases not
long ago. She got 26 cents. or $40, 600
gross. If she is lucky she will get iute
or sugar back at say 81 She will bring
|, 800 tons or $l0,j gross, and she
will earn it in a yea.
"a ship like that costs $50, 900, and
S21, 600 is small gross income. Out of
this sum of S21 900 she has sundry ex-
penses which will astonish yon, perhaps.
For crew, she carries captain, two
mates, cook, and fourteen men. The
captain gets $50 amonth and five per cent.
of the gross freight money, or 81 ,415 for
the year. The first mate will get 5000,
the second mate $780, the cook, $3.50,
and the fourteen men will get So, 36O;
or total of So, 275 for wages. To feed
them will cost 80 a 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-
eraGe on the cargo out is five per cent. and
back seven per cent. or 81, 26j. Port
charges at Shanghai are three cents a
ease, or 81, 200. Pilot fees will amount
to $500. Then we have insurance at five
per cent, 81, 800: annual deterioration,
five per cent, 81, 500; tonnage tax at
thirty cents ton. $500; and interest on
investment at four per cent, $4,000"
''Is that all2"
"There are few small incidentals.
Oh, forgot the ship chambers bill. 1t
was $4,000. That's all that's worth
counting"
The young man had jotted down the
sums. They aggregated for the year
$23, $50.
"Thats just about it." said the broker
with a faint smile. "You cannot make
more favorable showing, because you
have estimated the insurance at low
rate, and the return cargo is always a
matter of some doubt Beside, a year
is a good round trip. You see, the
owner is $500 or $4,000 out of
pocket"
"Why does he build new ships,
then"
''Give it up"
"Do all these ships sail at loss2"
"That one was only of 1000 tons
register. Take ship registering 1900
tons, and she will carry $4,000 cases of
oil out, and will bring back 5000 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 $l5, 600, leaving clear profit of
"a, 600 on an investment of $40, 600
provided she has ordinary good luck
The best luck that could happen to the
owners of the bark would be wreck when
she was fully insured"
The Western Idea of Live Town.