The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-12-04

variety, cases Wnere some steel snip mas Iouud
the bottom or some rock in q place where a
rock or the bottom was never discovered be-
fore. These steel ships weigh 5000 tons or 20.
and they havs loads OF from 1000 TO 5000
tons more. and when they hit something. no
matter how softly. there Is a crash. These lit
tie losses have cost from $1,000 to $4,000
each. and there have been scores OF them this
season.
good many well-knoWn names have disap-
peared from the lakes this year. Fifty shirs
have been taken TO the ocean during the past
two months, something that Is new tolake-
vessel men. for there has never been an At
lantic demand for lake-built boats before. IL
Is quite likely that some OF the fifty will not
come back. for they are not OF a construction to
stand the rack of the ocean very many years.
The drain to the ocean has taken from the
lakes tonnage capable OF carrying about 3,00O,-
600 tons of freight IN q season. and. with the
losses OF the year. they make a hole in capaci-
ty that cannot be filed by the shipyards In
one year. at any rate. It Is not beyond the
truth to say that with the expected growth Of
freight pressing for shipment East next year
there viii be a famine OF ships. and rates will
be very much higher than In the past year.
This famine may be a most serious matter to
the iron miners and the grain growers OF the
Northwest. and to the coal consumers who get
their supplies from the mines OF Pennsylvania
and Ohio.
Every record Of carrying has been smashed
time and again during the year. Early In the
season the steel freighter Andrew Carnegie
put the broom at her masthead. with q cargo of
100000 bushels OF corn, or GAO tons, and the
schooner Polynesia led her class. with 6.72e
tons Of ore. Soon there came the magnificent
steamer Linn. with cnrgoes OF 6.314 tons OF ore
and 9. 496 tons Of corn. and the immense wood
arhooNAr Australia aiafar IN tina po1v-
nesta. carried 6.316 tons OF wheat. A
little later the Superior City was launched
and took the lead at once with loads Of
T.463 tons Of corn and 1852 tons OF ore. Then
zane the schooner John Fritz. which carried
out Of DuIuth z, 7e5 tons Of ore. and her sister.
the John A Roebling. took 1895 tons. The
Superior City still holds the broom for ships Of
her class. and the Roebling for schooners. The
steamer Morse. IS feet longer than the supe-
rior City. has not carried SO large . load. and
Is not intended TO do so. having other func-
lions that her builders deem more important.
All these ships are of what Is known as the
400-foot class. the Morse being 415 feet long
and the Carnegie. the shortest steamer Of the
lot. 42O. AcarKo was carried by the Mohawk
that was valued at 100000. being the most
costly taken on the lakes for many q day. It
was all copper and Jour The 1882 tons OF ore
carried in one load by the Superior City was
discharged in twelve hours, 143 men being en-
gagged in the labor. The Carnegie took 332.100
bushels Of oats at a load. almost an elevator
full. More than $1,000 tons were moved in one
tow by one engine. at q low cost never before
approached.
In the spring OF 1898 there we're forty
ships under way in lake shipyards. valued at
S5.250.000. What there Will be at that date
next year is 4 question. but there are now
eight freight ships Of the largest class. worth
from 100000 to S25O,oO0 each. passenger
ships, &c. in all a value Of about S2.250.0O0. A
number of shipping concerns are figuring on
ships, but the high cost Of material and the
delay Of steel mills are hinderins negotiations.
The season closed for the lakes. so far as
lumber car-oes wore concerned. on Nov. 30. and
will close Tor grain cargoes Dec. 10. while on
bulls lt ceases two days later. There can be
few losses from now. comparatively speaking.
though lax underwriters are 80 anxious TO
quit that they will not extend insurance as
usual. They have had enough. and more.
That there will be changes IN the manner of
insurinG lake bulls and cargoes another year,
IN consequence OF the disasters this season, is
certain. Insurance men are now figuring on
some method of recoupinE themselves. but on
account OF the peculiar conditions surrounding
the business il Is a hard problem. For the past
four or five years the lake marine insurance
AAeaD b'~A -@A- EA ~ AAAV bAAA4V VI - . y LAA
cate Of British companies that drove out the
American concerns ia the business by conces-
stons and reductions In rates. On the four
years business they have come out with a loss.
IL is understood among agents. Another year
there will be a general scaling down OF insur-
ance values. and the practice Of overinsurance
both Of hulls and cargoes, now general. may be
abandoned. There will be a Topping of OF
many q ship that has always been insura-
- ~
classes Of tonnage. The American companies
that were driven from the field or retired rath-
er than do business on the margins taken by
the British companies will probably come
back. and with rates equal they will regain the
bulk OF the insurance. Lately all that has fallen
TO their Share has been the policies that could
be controlled by men having interest in both
insurance stocks and tonnage. Vessel agents
from Buffalo 10 Duluth will welcome a return
to the old methods and will do everything in
their power to bring it about.