AWARD OF THE FISHERY COMMISSION. 2295 



value f A. The average price of so many barrels would be for each bar- 

 rel so much. 



Q. How do you get at the average value ? A. By dividing the pro- 

 duct by the number of barrels. 



Q. And that would leave $7.80 as the price of mackerel in 1857 ? A. 

 The figures are quoted. 



Q. Then you make up another column showing the expenses? A. 

 Yes. 



Q. If you take the aggregate values, after you pay the men oft', what 

 would be the result ; an average trip is 183 barrels, which, at 811.57, 

 realize $2,117, less 8180 for bait ? A. That is taken out of the whole 

 stock. 



Q. Something else comes out of the whole stock besides bait ? A. I 

 put that down. On a mackerel voyage there is little else save bait ; but 

 on cod-fishing voyages there are other items. 



Q. The crew's half is $968 what do you deduct from this amount ! 

 A. That goes to the crew. 



Q. And the owner's half? A. I credit that to the vessel. 



Q. The item for insurance is $125 ? A. That is for the time she was 

 employed on that voyage. 



Q. How do you make it up ? A. It is 2i per cent, on $5,000 for the 

 trip. 



Q. Do you insure for $5,000 on the vessel ! A. We insure the value 

 of the vessel. It costs about 2 per cent, a trip to the bay on the aver- 

 age for those years ; that is made up by computing 24 per cent, on 

 $5,000. 



Q. Four per cent, on 1,937 comes out of the owner's share ? A. Yes, 

 entirely. 



Q. Provisions, oil, and fuel cost $390. How do you make this up ? A. 

 I arrivedatthat from figures prepared by myself, and from my own books, 

 proving that it costs 40 cents a day per man for these items to fit out 

 our vessels in our way. I prove that by actual figures taken from our 

 books, and 40 cents a day for 14 men for 10 weeks make $390. 



Q. How do you arrive at the cost of salt, fishing gear, and the vessel's 

 running expenses ? A. I make it up from an estimate furnished by my 

 own experience regarding the portion of the vessel's bills for ten weeks' 

 time, including sails, railway bills, painting, rigging, cables, and anchors, 

 &c. The ordinary running expenses of a vessel for that period of time, 

 or two and a half months, would amount to that sum of money. 



Q. And how is it with respect to depreciation and interest on invest- 

 ment ? A. That is computed on actual value. 



Q. You charge interest, $75, on the money invested !->-A. I charge it 

 on $5,000, the value of the vessel for two and a half months, the time she 

 was employed. 



Q. This statement shows that you lost on an average $128 per trip dur- 

 ing these nineteen years, and as there were 170 trips this would amount 

 to $21,760; will you undertake to say that you lost this amount, and 

 that your actual experience tallies with this approximate which yon 

 have submitted ? A. I undertake to say that I would have lost that 

 much if I had nothing to do beyond owning and running vessels. 



Q. You mean to say that the gains obtained from one branch of your 

 business recoup you for the loss you sustained elsewhere, and that this 

 leaves you a profit ? A. I suppose so, but as to the profit it does not 

 give us much profit beyond what we earn. Any man who does a day's 

 work earns his wages. 



Q. It does not give you a profit beyond the loss which you sustain ? 



