Morning journal and courier., 1884-07-18
College president-'Here is a list of names
Small Profits of Ship-Owners.


A distinguishing characteristic in 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 Broadway window to three
for-a-quater hash placard in cheap restau-
ran, each conveying the impress of artistic
finish in its execution and the comfort in its
promise to the persons for whom it is intend
ed. The sign of the ship merchant is neither
artistic or expensive. 1t is simply old, so
very old, in some cases, that the paint has
been worn off by the wind and storm, leav-
ing only faint outline of the letters in the
| black or gold in the coffee-brown background
which might once have been either white or
black, for all passing inspection will tell.
The old signs which once read, "Howland
& Aspinwall, =" and ''Grinnell Minturn& Co."
have been wholly obhterated Like wine,
or like choice meerschaum pipe, the old
signs gain value with increased age To re-
move 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 visitors will
usually find in the room marked "private"
genial old gentleman who can name the prod
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 ship owners, and that never
since ships began to sail the sea have profits
been so small now.
'FShips must pay some profits to ship-swn-
ers, else the ship-yards would be idle"
suggested young man to one of the pleasant
old brokers.
'Some ships pay, of course, but at best
the profit is not large
F'What freight will good East India ship
receive now?'
1.-The chief East India cargo is kerosene oil
in 10-gallon cases. which weigh "a pounds
each. A large ship will carry say $4,000
cases. The largest cargo on record was car
ried by the iron ship Lord Wolseley. She
took 1O1 900 cases out. The great majority
of the ships carry about half much as
that. We sent out bark with 10000 cases
not long ago. She got 26115 cents, or $1O,-
600 gross If she is 1ncky she will get jute
or sugar back at say 81. She will bring l.,
500 tons or $40, 500 gross, and she will earn
it in year
"a ship like that costs $4,000, and s21,-
900 is a small gross income Out of this
this sum of 81 200 she has sundry expenses
which will astonish you, perhaps For a
crew she carries a captain, two mates, a cook
and IA men. The captain gets $50 month
81 ,415 for one year. The first mate will get
$500, the second $420, the cook $3.50, and
the ID men will get $3360, or a total of $6,-
275 for wages. To feed them will cost SO
per day, or $3285 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 35 cents ton for discharging the re-
turn cargo-a total of 81 ,225 The brokerage
on the cargo out is per cent and back per
cent or 81 1865. Port charges at Shanghai are
three cents case or 81 200. Pilot fees will
amount to 5000. Then we have insurance at
5 per cent, 81, 500; annual deterioration, 5 per
cent, 81, 500; tonnage tax at 30 cents ton,
$500; and interest on investment at per
cent, 81, 000."
SIS that alll''
''There are few incidentals. Oh, I for
got the ship chandlers 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
s'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. Besides year is good round trip.
You see the owner is So, 500 or 81, 900 out of
pocket"
'Why does he build new ships, then?'
"Give it up"
do all these ShlpS sail at lOsS!
"That one was only of I 900 tons register.
Take ship registering 1900 tons and she
will carry 75, 200 cases of oil out and will
bring back 5000 tons of cargo Her freight
will amount to about $40, 900, while her ex-
penses over those of the bark of 1000 tons
will be about $15, 5,000 leaving a clear profit
of 81, 600 on an investment of $4,000, pro
viding that 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