The Republican journal., 1886-02-11
Concerning Vessel Property.

journal a statement concerning an investment
in cone of our most fortunate vessels" which
was published in our news columns. The
Maine Industrial journal seized upon the item
and declared that it showed profit Of over
one hundred per cent. upon the investment,
but subsequently modified its figures. 1t SEEM
ed, however, to be possessed of an idea-which
we need not say is entirely erroneous-that
this paper is trying to discourage investments
i'll vessel property by making it appear less
profitable than it really is. In fact, we did not
undertake to prove anything, pro con, but
simply gave the item as piece of news. We
know, however, that vessel property, save in
exceptional cases, has not been profitable for
number of years past. Were it otherwise there
would no doubt be Il revival of shpbuilding
here, which we should all be glad to see. In
the past ii was the leading industry of Belfast,
and finer ships did not float than those from
our yards. We have the master builders and
the WUrkmen to repeat these successes, and
The large three-mastcd schoonGr> launched from
the Cottrell wards and Mcdonald X Browns IN
the past few wears are second to none i'll
>lalmchucss and speed. But the Democratic
agitation for free ships, and their attempts to
throw open the coasting trade to foreign bot
toms, with the low freights which have pre-
vailed for sometime past, preclude the pos
sibility of revival of shipbuilding.
The New York Maritime Register of Jan. y
has an editorial on Vessel Property" in which
it maintains that the present depression is
result OF overriding the business. 1t saws: lit
is simply an ebb and flow as applicable to ship
pins. and other trades As to the tides. Ship
ping is at Il low ebb. the flood must come again
much sooner than the inpatient will believe
We hope this view NAV prove correct. Quot
iug the JournaIs item before mentioned, the
Register saws:
The Jourual does not fairly present the ease
/ After alowin" for insurance depreciation i'll
tn,"c nne Wv ne. nt'H nin lay az 'iiL r ~
added 10 the S:3324. But there is included in
the cost the item of S236.6i for taxes. This is
V", ni. i''i t ', fr ti'n f,i
ten Years. In other countries this is not
charged Deduct 1t from the annual expense
~ on I"Ii tosor. "m't .,.Ir mVnu w. d"
Vessel uroperty heavily and upilstly taxed
weighed down with small charges and tailoring
u'l u ~ az :"
the obstacle, in the way of the Improvement
OF such property III this country.
The journal did fairly state the case. The
vessel was total loss and there was nothing to
add 10 the S3.i.34. Taxes were charged be
cause in this State vessel property is taxed,
Wtii'e III Massachusetts, New 1ofk' Delaware
an Ienn~l wan 1t Is exempt from local taxa
lioh. IN Great britain the only tax Is upon
net income. pom ihi> matter Of taxation
/ Bra streets says that lover and above the
question of first cost, the best authorities are
,I,,,.t i,.,,,,,,,, ol,t..l,. D., tI,, ,,.,,4;t
JJ. o,,,1,,.,,+ of yo..ol. IN s,.,,i,.,, .o.,,-
r,.,.,... I,.,ii NolI. ,,,,.. sd far a.. T.. s,,
t,.t ..;f li,.. ~ tI I,..t f.,i,,,. ,.o, +,,,,.;,
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"'"'' ~ "''''''''' WIN '''' 1t il'''' '""'' as
ment. if not impracicablp. The most serious
of thes, obstacles crows ont of the system of
'0i"'' 81 io''l t'N'"l"h Stiel"iH "i"li'" III ''''
states OF the Federal Mon"
This i. what the .JournaI has alway. m,in-
~
80
,t;,.,;,,'i N.Y.
= o'' 'N''o "a '','' ''N,' o,' - '''N
ocean III one wa! ana another nat the TAX
collector did not take went for consul fees.
ana n,Ir Rriti~h ron,,titnrs ,vLos.. h,,rInuS Of
thl> nature nave htch Drought TO Il minimum,
have rcaped the advantage OF more liberal laws
'''hi ~ "'' - ~ .io0N
offering exemption from taxation, and Maine
vessels VIII md home i'll Massachusetts, a>
many have already.
al, ,,:.,:.,I t.I
80,
-,
o,,,l,,,,,.,,,,+ AZ ,,,l,,l ,,I.,,.,. ,I,a n.,,,
.r,ti.. ,.,,,liI,,, a.. c,,.,,.,a. +,,i, ,o, ,L
I,u-,.I so,u
If Jul.ea ,leav.. with piua-t.u+bs of tho
party at bis back. and after lighting Tom Reed
ana eNpendhs more Tor legitimate campaign
Stt, +,,-i,,. n,.nr i,a. hat,1' ~. he pnrtiamJ
collector>hip hy a man who contributed TWENTY
does the Commercial believe he would consent
10 De luf'hTr ii'illi''''e':
/
'tah" lo'"' u '''e o'a @ulru OIL ihe 'e'lio'rallc
pau ''ie 'ou' "'l i'l'''i ~
f ~ ,,,i r. ~ ~ l' IN, . .I r.
thai Bass STYLES as "tradcrs and dckcrrrs. -
have no candidate, they want none. \ whole
I ~ oi'N ny tiio 'N',iiii,l>
/ ISIS and brokers. in Ills state.
Inc fl9u.e committee i to report, It Is be-
uHt', d 'Ii siIoM ii2 .iit pu!rhse Vi lorelSh-
n'' IL wat 'iic 'oui iiii has Always con-
| tended was the ultimate aim of the free ship
| movement The coastinu trade i the only nrotit
IN. ,..; ,
..o.,,,a.. ha,.in,. ,.I., f,,,, ,'aa7.;a,, - t1e
'' ~ pa
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4,. p.:.;,, .7..,,..
Wv wv ',i''.. VA INV 0'iN' N "
|
! The firm of Paisted & Morton. publishers of
the New Ace. has rot left. inst as if was an
~ ~ ~ ~ '7 ~
w az =, vs. 7'" ~"
'''' INV 07'>'N''' '''''' "PP