AWARD OF THE FISHERY COMMISSION. 2621 



the expenses of the repairs that are put upon her in that period of 

 time? A. No. 



Q. You make no charge for depreciation, but you take it to be equal 

 to the amount of the repairs ? A. Well, I presume so. 



By Mr. Foster: 



Q. In the hypothetical case, yesterday, you allowed $550 for depreci- 

 ation for the year ; that $550, I understand, will have to pay for the 

 repairs ? A. Yes ; I intended that to cover in the same proportion for 

 the whole year. 



Q. How much is charged for repairs in these items you give that 

 make np the amount .in the broadside? A. It would seem that $100 

 would be the amount included in that for repairs. 



By Mr. Dana : 



Q. Then it is perfectly understood that there is no special charge in 

 connection with the veSvsel for the use of the capital what we call now 

 the plant, the wharf and building which are his investment but that he 

 gets his compensation for all that in whatever charges are made for the 

 provisions, fitting, &c. ? A. Yes. 



Q. Well, these men who are engaged in the fishing business in Glou- 

 cester, are they workingmeu themselves ? A. Yes. 



Q. Or are they men who put in their capital and let others take care 

 of it '? A. No ; they are workingmen. 



Q. In what sense are they workingmen ? A. Well, most of them go 

 on the wharf and work just the same as a laborer on the wharf. They 

 see to everything, and lend a hand when it is needed. 



Q. Are they usually men who have had experience either in that busi- 

 ness or as fishermen themselves? A. They have. 



Q. Now, would it be possible, do you think, from your long experience, 

 for a man to make a living if he simply invested his capital, as a sort of 

 taucy merchant, looking in at times to see how things went, if he didn't 

 give his personal attention to the business, and do a fair day's work 

 overseeing it ? A. You mean whether he would get a living out of it ? 

 1 think not. 



Q. Are there any such cases down there? A. You mean vessel-owners, 

 I presume ? 3To. 



Q. Take the case of persons who don't themselves look after the work, 

 but merely invest capital in the fishing and have others looking after it. 

 Is there such a thing as that known in Gloucester ? A. No. 



Q. It would not be an investment of any account if you undertook to 

 invest your money and leave others to take care of it? A. I don't know 

 about that. I don't know any instance where it is done. 



Q. What is your opinion ? Have you a clear opinion ? A. My opin- 

 ion is that they would not make a great deal on their investments. 



Q. What do you mean ? A. Well, I mean that they would not get a 

 very large percentage. 



Q. Do you think they would get anything ? A. I think they would 

 get a fair interest on it. 



Q. Would they get more than that ? A. No, I don't think they would. 



Q. Perhaps you didn't understand me ; I don't mean where a person 

 lets his capital to owners, because in that case they will pay interest ; 

 but suppose he was to invest his money in a fishing-vessel, simply pay- 

 ing for his share ? A. As I understand, you ask whether the owners 

 and fitters of vessels in Gloucester make anything in their business ? 



Q. No, because they incorporate skill and give their daily labor to the 

 work. But take the case where a man simply pays for his share in a fish- 



