The daily morning journal and courier., 1899-01-13
COAST TRADE DURING 1897.

Interesting Report of Ex-Governor | Dewell Concerning the Sutton Fleet.
 James D. Dewell, managing owner of {, the Sutton fleet of coasting schooners
 has just made his annual report. In his | report he says:
 Charters have been in brisk demand during the most of the period under re- view-only now and then lull-and at much higher rates than in 1897. The ad- vance in coastwise was marked during the early week of the war with Spain, and since the declaration of peace off, shore business has vastly improved.
 By reason of storms and gales, espec- ially severe on New England coast on the 18th and 27th of November last, many vessels and barges were wrecked with great loss of life-fortunately all of our fleet escaped injury. The loss of this large amount of tonnage, and much tempeStuous weather since, has been an important factor in the recent rise of sail freight, all of which is reflected in the increased earnings of each vessel
 
 S26,600 for IS months to $30,240 for F months; during the same period the gross earnings have increased in excess of $35,000. The w. Wallace Ward shows the greatest increase but the Hargraves paid the largest dividends the lighter expense of coastwise runs accounts for this in part, but the next vessel put in four more trips than the next highest)
 In my last report mention was made of the Sutton Ward and Grant having taken off-shore charters as an experi- ment. The Sutton, and Ward were sue cessful, but the Grant, by reason of gale in the Mediterranean and a slow return passage, made no money; how ever. I am satisfied that when freights on the coast are below normal or off shore are above the average 1t may be we'll to keep portion of the fleet in West Indies and Gulf business. To the owners of the Grant I express my re- grets that no dividend has been paid during the year--you all know the cause-and while no funds are in sight for such a purpose, yet it is satisfac- tion to know that she is nearly free from debt. By reason of extensive re- pairs on the Sutton and Law it will be some months before dividends can be paid on either vessel
 My hopes of a year ago have been more than realized. Barring accidents, believe the coming year will be one of prosperity for the property you have intrusted In my care, and that all of the maritime interests of the United States will reap substantial benefits from the improved condition of com mercial affairs.
 The dividends paid by the vessels of the fleet are as follows:
 Schooner James D. Deweil launched September 26, 1882, cost s37,6SS,5S, paid dividends to date. $61, $40. Last dividend December 12 1928.
 Schooner Charles T. Futile, launched June 12, 1886 cost s45OoO paid dividends to date, $62,200. Last dividend July 20, 1898.
 Schonoer Gen. s. F. Merwin. launched November 19 1884, cost s49, ,5S4,69. Last dividend June p, 1898.
 Schooner w. Wallace Ward, launched IS, 1883, cost s6o, GOO, paid div idends to date, s54,7O0. Last dividend 4, 1898.
 Schooner George M. Grant, launched September [, 1889. cost s5i,0o0, paid divi- dends to date, $5S,00O Last dividend l October 19, 1896.
 Schooner Lyman M. Law, launched 1 August 2S 1890, cost $65. 900, paid divi- 1 dends to date, s5S,20O Last dividend l April 12. 1898.
 Schooner Lucinda Sutton, launched 1 July 21, 1891, cost $72,OOO, paid dividends { to date, $S8O00 Last dividend May 17, ! 1898.
 Schooner Gen. E. S. Greedy, launched June B. 1894, cost G5,OOO, paid dividends | to date s27000 Last dividend June 16, | 1898.
 Schooner R. & T. Hargraves, built 1891; bought August 1, 1898, after col- ision with schooner w. Wallace Ward, cost S17, 900, paid dividends to date, $19,- 100. Last dividend December 14 1898.