AWARD OF THE FISHERY COMMISSION. 2549 



Q. Could one be built for less now ? A. I think not. I had a vessel 

 of that size built last spring, and she cost me more money she cost 

 some $7,500, or more. 



Q. Proceed with your statement. A. I put down as insurance on the 

 charter and outh'ts, including barrels, $104.20, which is based on 4 per 

 cent, for the voyage. ; the rate we charge in our office for a voyage of that 

 kind. 



Q. You charge 4 per cent, for 4 months ? A. Yes. 



Q. For how much do you insure with these $104.20? A. A little 

 short of 83,000. 



Q. Would it not be about $2,500 ? A. I guess it would. 



(,). What is embraced in the policy of $2,500 ? It does not cover the 

 value of the hull of the vessel? A. No 5 but it includes the material 

 pat on board of her for her voyage. 



Q. And how much do these expenses sum up ? A. $2,215.40. 



Q. Is that a fair policy to take by the charterer of the vessel ? A. Yes ; 

 I consider that it is. 



Q. Is it a large or small estimate ? A. It is not a large one ; it only 

 covers the actual outfit and charter for which he is liable to pay, whether 

 the vessel returns or not. 



Q. The charter of the vessel is to be paid for whether she is lost or 

 not ? A. This is the case up to the time when she is lost. 



Q. Proceed to the next item ? A. The charterer's expenses amount to 

 $2,215.40 ; his half of the stock with which he has to pay these expenses 

 is $1,890, and this shows a loss of $325.40. 



Q. So that if a man had a vessel and paid $1,000 for her for four 

 months, and got 400 barrels of mackerel, he would gain nothing for "his 

 time, but lose money ? A. Yes ; and there are some other expenses 

 which I did not read ; there is the master's commission of 4 percent. on 

 the net stock, $3,780, and that amounts to $151.20. 



Q. That is in addition to his share ? A. Yes. 



Q. Suppose that a man owned his own vessel, which was new, having 

 cost $7,000, what would be a fair percentage to charge for depreciation 

 right along from year to year ? A. I have made it up, and put it down 

 at $300, as a fair amount for depreciation for a voyage of four months. 



Q. How much would that be by the year ? A. If we take it for a 

 series of years, perhaps it would not be so much in proportion ; perhaps 

 $700 might be a fair depreciation for a number of years. This statement 

 which I have prepared .is as follows: 



NEW SCHOONER, CHARTERED. TONNAGE, 70 TONS. 



For four months' mackerel-fishing in Gulf of St. Lawrence in 1877. 



STOCK CHARGES. 



40 bids, of porgy bait, at $6 $240 00 



lObbla. of clam bavt, at $8 80 00 



Expense for barrels and packing 400, at $1.75 700 00 



Stock charges , 1,020 00 



OUTFITS AND EXPENSES. 



Provisions, fnel, &c., for 16 men, 4 months, at 40 cents per day each $700 00 



ISObblfi. Liverpool salt 120 00 



Bait-mill $15, fishing gear $50 65 00 



Custom-house and port charges 15 00 



Fresh provisions bought in bay '. 60 00 



