Savannah morning news. [volume] (Savannah) 1868-1887, 1884-07-06
MONEY LOST ON SHIPS.
At Present the Best Luck in Store for the
Owner of Bark Said to be Shipwreck.

At Present the Best Luck in Store for the
Owner of a Bark Said to be Shipwreck.
A distinguishing characteristic of South
street, says the New York San, is the
appearance of the signs over the offices of
the ship brokers and merchants. New
York signs are in themselves curious
study, ranging as they do from an expen-
sive panorama in Broadway window to
a three-for-a-quarter hash placard in
cheap restaurant, each conveying the
impress of artistic finish in its execution
and of comfort in its 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, thatthe 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 back
ground, which might once have been
either white or black, for all a passing
inspection will tell. The old signs which
once read "Howland 81 Aspinwall," and
''Grinnell, Minturn & 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 s'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 informal
ton, the visitor 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 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 profit is not large"
"What freight will good East India
ship receive now?''
1.-THE chief East India cargo is kerosene
oil in ten gallon cases, which weigh
eighty-four pounds each. A large ship
will carry say 10000 cases, The largest
cargo on record was carried by the iron
/ ship Lord Wolseley. She took 101, 900
cases out. The great majority of ships
| carry about half as much as that. We
sent out a bark with 10000 cases not long
| ago. She got 26L cents, or $4,000 gross.
| If she is lucky she will get jute or sugar
back at say 81. She will bring 1000 tons
| or $10,500 gross, and she will earn 1t in a
| year.
"a ship like that costs $50, 900, and $21,-
| 600 is a small gross income. Out of this
sum of $21, 600 she has sundry expenses
which will astonish you, perhaps. For a
crew she carries Captain, two mates, a
cook, and fourteen men. The Captain
gets $50 a month, and per cent. of the
| gross freight money, or 81, 415 for the year.
The first mate will get 5000, the second
mate, $420; the cook, $3.50, and the four
rrfn Of
1920 for wages. To feed them win cost
| So day, or 1925 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 II cents a case for slowing
the oil, and 30 cents a ton for discharging
the return cargo-a total of ST. 25. The
brokerage on the cargo out is five per
cent. and back seven per cent, or 81 ,265.
| Port charges at Shanghai are three cents
a case, or 1920. Pilot fees will amount
to 5000. Then we have insurance at five
per cent, $4,000; annual deterioration,
| five per cent, 81, 500; tonnage tax at
thirty cents a ton, $500; and interest on
investment at four per cent, 2,000."
''Is that allT'
ssThere are a few small incidentals.
| On, forgot the ship chandler's bill. 1t
was s., 900. That's all that's worth count
ing"
The young man had jotted down the
sums. They aggregated for the year
/ $23,550.
'sThats just about it," said the broker,
| with a faint smile. ssYou 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
a good round trip. You see, the owner is
| $4,000 or s., 900 out Of pocket"
''Why does he build new ships, then ~
"Glve it up"
ssDo all these ships sail at a loss !?
'sThat one was only of 1000 tons
| register. Take a ship registering 1900
tons, and she viii carry $1,000 cases of oil
out, and will bring back 1900 tons of
cargo. Her freight will amount to about
SAC, 1000, while her expenses over those of the
bark of 1000 tons will be about $15, 600,
leaving a clear profit of 81, 900 on invest
ment Of $4,000. providing that she has
ordinary good luck. The best luck that
could happen 10 the bark would be a
wreck when she was fully insured"