2658 AWARD OF THE FISHERY COMMISSION. 



A. [Refers to the book.] I find a fishing license was charged to the 

 Alhambra. 



Q. I suppose when you made up the statement of charges they were 

 included in the custom-house and port charges you put in ? A. I think 

 they are. They comprise a portion of that. 



Q. So of course now that they are not payable, they could not be 

 charged for the years they are not payable ? A. No. 



Q. Now, in reading this book, " Fisheries of Gloucester," published 

 by Procter, but before I refer to that, have you been looking into the 

 question of salt ? A. Yes. 



Q. What is the freight of a hogshead of salt from Liverpool ? A. I 

 don't know. 



Q. You can't tell ! A. No ; because I don't know. 



Q. On page 75 of this book I find that there were imported in 1870 

 20,136 hogsheads of Liverpool salt, costing $8,673 j of Cadiz salt 24,879 

 hogsheads, valued at $13,910. In 1875 the imports were 74,032 hogs- 

 heads of Cadiz salt, and 20,480 of Liverpool, 10,966 of Trepaui, 3,008 

 Turk's Island, making a total of 108,486. The salt used was 106,245 

 hogsheads. The value of the salt, as appears there, would be from 45 

 to 47 cents per hogshead. A. I don't know anything about that. I 

 know what it sold for. 



Q. You are speaking of the price of salt as sold out. I am speaking 

 of the value of the salt there. A. That I don't know anything about. 



Q. What do you find it sold for the wholesale prices ! A. I don't 

 know. 



Q. Now one question. I understood you that in former years the 

 mackerel-fishermen and owners of mackerel-vessels used to insure their 

 vessels in Boston insurance offices ? A. I think they did. 



Q. But of late years they have found it more profitable to form a 

 mutual company ? A. Yes. 



Q. That of course divides the losses among themselves, and they di- 

 vide the profits, and realty these 39 men who own all the fishing vessels 

 of Gloucester are formed into a mutual insurance company ? If they 

 make $1,000 or $20,000, they get back their money in the shape of divi- 

 dends; so it is really like paying a duty and getting it back. It is a 

 drawback. Now, have you examined and can you tell me what profits 

 are made by this company? A. I cannot. 



Q. You don't know ? A. I guess the assessments come oftener than 

 the dividends. 



Q. Do you know so ? A. Yes. 



Q. Now I would like to know whether you are speaking at haphazard, 

 because I have a statement under my hand. A. Well, I haven't been 

 of late years acquainted with the working of the insurance companies j 

 but when I was in business I know I had to pay assessments. 



Q. Were you a shareholder ? A. Yes ; all owners of vessels are. 



Q. You have had to pay some calls. Now in this book, the " Fisheries 

 of Gloucester," on page 73, a table of losses is given running from 1830 

 to 1875. There was 333 losses, that is, an average annual loss of seven 

 vessels for these years. For the past five years the average loss has 

 been greater, but that would be the total number. Now I have gone to 

 the trouble of making up a little sum, and I think there must be a very 

 handsome dividend divided somewhere, if they pay 4 per cent, as you 

 have said. You haven't made a statement yourself ? A. No ; but you 

 may rest assured, when I go home, I shall go into this insurance busi- 

 ness and know about it. 



