AWARD OF THp FISHERY COMMISSION. 2643 



you put forth ? A. I supposed I had mentioned on the account that it 

 was an estimate. 



Q. That is the real fact, is it not ? A. Yes. The real fact is that I 

 made a mere estimate in this regard. 



(,). George Steele does not charter vessels but owns them ? A. Yes. 



(,). And this statement supposes him to be a charterer ? A. Yes. 



<J>. Though he is not one? A. Yes. 



< c ). Have you had the opportunity of examining George Steele's books ? 

 A. I have not. 



Q. How did you get these thirteen or fourteen trips ? A. I saw the 

 nip-books. 1 asked Mr. Steele for permission to show them to the 

 rummissiou. 



Q. You then had the opportunity of examining his books ? A. Yes, 

 as to his trip-books, but not as to his ledger. 



Q. Did you ask for his ledger? A. I did not. 



Q. 1 suppose if you had done so you would have obtained access to 

 it .'A. Probably I should. 



Q. Therefore you do not know what his books show as to actual proh't 

 and loss sustained by him during this period I A. I do not. 



Q. And the actual state or facts may be at variance with the theory 

 you advance ? A. I hardly think so. 



Q. Supposing that George Steele stands in the position you assume 

 in this statement, he would be bankrupt beyond all redemption? A. 

 Yes. 



Q. You have proved him from theory to be bankrupt beyond all re- 

 demption, when in fact he is a capitalist worth $45,000, which exhibits 

 the difference between the practical statement and the theory? A. Yes; 

 bnt he had capital when he went into the business. 



Q. Do you state that he brought it in with him? A. One-half of it 

 was made in the sail-making business. 



'Q. Where was the other half made? A. In the fishing business dur- 

 ing nineteen years, but that is only $1,000 a year, and he ought to make 

 that. 



A. The actual loss on each vessel, for 107 vessels, you place at 107 ? 

 A. Yes. 



Q. Will you make that up and tell me for how much he ought to be 

 a defaulter ? A. His loss would be $17,809. 



Q. And that is not' consistent with the facts; he is not a defaulter to 

 that amount. A. He has made it up in other parts of his business, but 

 as far as his vessels are concerned he has probably lost that sum. 



Q. You did not get access to his profit and loss ledger ? A. No. 



Q. That would show exactly how it is, and this is an imaginary con- 

 clusion? A. Yes. I could not make it up without the actual bills of 

 expenses for his vessels. 1 thought it was already understood that this 

 \\as imaginary. 



Q. Turning to the credit side of that account, the catch is 33,645 bar- 

 rels of mackerel"? A. Yes. 



Q. Will you tell me where you got the values ? A. From the trip- 

 book. 



Q. And that shows the values at which he settled with his .men ? . A. 

 Ves. . 



Q. Does it show the actual cash price which he received for these 

 53,645 barrels ? A, Yes. 



<,>. Will you explain ? A. Eemember that this is for the fish and the 

 nicking, which he receives when he sells the trip. 



Q. Does that trip on its face show the actual moneys which he received 



