AS APPLIED TO MARINE PROPULSION. 11 

 Cost of Operation Per Voyage. 



Steamer. Motor ship. 



Insurance (4%) ; depreciation (5%), 92 days $44,200 $48,800 



Brokerage, at $0.15 per ton cargo capacity 3,440 3,660 



Overhead and general expenses at $20 per gross ton, per annum. . 45,600 45,600 



Fuel oil 45,900 15,260 



Water, at $1 per ton 600 150 



Deck officers, crew, stewards 12,200 12,200 



Engineer personnel 9,300 7,600 



General stores, deck, engineers and stewards 5,000 5,000 



Totals $166,240 $138,270 



Loading and discharging of deadweight tons at $1 per ton and 



75% of cargo capacity 17,200 18,280 



Total cost for deadweight cargo (per voyage) $183,440 $156,550 



Loading and discharging of bulk cargo at $2 per 100 cubic feet 



at 75% capacity $17,700 $18,600 



Total operating cost for bulk cargo (per voyage) .... $183,940 $156,870 



Comparison of Earnings With Deadweight Cargo Carried. 



Tons per voyage outbound at 75% capacity 8,580 8,980 



Tons per voyage homebound at 75% capacity 8,640 9,300 



Rate per ton $13.50 $13.50 



Gross revenue per voyage at 75% capacity $232,500 $246,780 



Cost of operation per voyage ■ $183,440 $156,550 



Net revenue per voyage $49,060 $90,230 



Net revenue per annum $195,000 $358,000 



Per cent earned on investment 10 16.65 



Comparison of Earnings With Bulk Cargo. 



Cubic feet of cargo carried out and return at 75% capacity. . . . 885,000 930,000 



Rate per 100 cubic feet $27 $27 



Gross revenue for bulk cargo $239,000 $251,100 



Cost of operation per voyage $183,940 $156,870 



Net revenue per voyage $55,060 $94,230 



Net revenue per annum $218,500 $374,000 



Per cent earned on investment 11.2 17.4 



From the foregoing it will be seen, for the particular conditions chosen, that the motor 

 ship has an increased earning capacity over the steam vessel of 66 per cent on deadweight 



and 55 per cent when bulk cargo is carried. In addition to the bulk cargo, there can be 



carried on the outbound trip 544 tons of oil, which, at $13.50 per ton, will increase the 



