2284 AWARD OF THE FISHERY COMMISSION. 



Q. Are the vessels generally insured? A. Our vessels are insured in 

 a mutual office. We all insure our vessels. 300 or 400, in one office. 



Q. You are a director in that company ? A. J am not a director this 

 year. I have been connected with the company twenty-five or thirty 

 years. The company has been thirty years in existence. 



Q. Have you been president J ? A. I have been president, or secretary 

 and treasurer, during three-quarters of the existence of the company, 

 which is thirty years. I am not now an active officer, but only a stock- 

 holder.. 



Q. Has there been any falling off in the amount of insurance of late 

 years ! A. The highest stockTthat was taken to cover the vessels dur- 

 ing our inflated prices of the war time was $2,200,000. 



Q. What is it now ? A. $1,000,000, covering our vessels with their 

 outfits. 



By Sir Alexander Gait : 



Q. Is the tonnage about the same ? A. It is a little higher. The 

 number of vessels is a little less, but the tonnage is a little higher than 

 it was. Our vessels are now built a little larger for the Bank fishing. 

 That is my impression. I have not the figures with me. There has been 

 no real increase in the aggregate value of the vessels, but a decrease. 

 The vessels, as they advance in years, decrease in value, and new ves- 

 sels are put in at their fair value. 



By Mr. Trescot : 



Q. Are you familiar with mackerel fishing on the United States coast 

 as well as in the bay ? A. Yes. 



Q. How do you think the two compare ? A. The fisheries on our 

 shores are far preferable and more profitable than the fisheries in the 

 British waters, on an average. 



Q. Have you made any approximate calculation of the highest num- 

 ber of mackerel-vessels in the bay during any year ? A. I think I never 

 knew over 200 ; that is the highest number I remember in my expe- 

 rience, and I had occasion to know as much as anybody about it, because 

 we had to keep the run of the vessels in the bay on account of the extra 

 insurance we charged them in the latter part of the season. 



Q. Explain the extra charge. A. We have a percentage which we 

 charge vessels in ordinary business commencing at certain seasons of 

 the year, and if a vessel is in the bay on the 1st October, and exposed, 

 as we consider, to additional risk, -we charge one-half per cent, extra, 

 which is added to the premium note, and if she remains to 1st Novem- 

 ber another half per cent, is added, making one per cent, extra premium. 

 That is to cover the hazardous risk that is incurred by her being in those 

 waters at that season. 



By Sir Alexander Gait : 



Q. How is it when vessels are on George's Banks ? A. That comes at 

 an early part of the season, and our premium covers that. We com- 

 mence the premiums at 9 per cent, for the year. We graduate accord- 

 ing as the season advances. We reduce the premium one-half per cent, 

 per half month ; in January it is 8 per cent. ; middle of January, 7 per 

 cent.; at the commencement of February, 7; later in February, 7^; 

 and 6 on 1st of March. Those vessels go in at that rate of premium on 

 George's or Grand Banks at that season of the year. 



Q. How about Bay St. Lawrence ? A. The vessels do not go in there 

 till 1st July, and they go in at the same premium. 



