AMERICAN CLASSIFICATION OF AMERICAN VESSELS. 103 



every employee, from the president down to the office boy, was only $28,000. Last month 

 I had the pleasure of signing checks amounting to very nearly $60,000 for the payroll of 

 October only. That shows how the institution has grown. Next year will be our very bad 

 year. Undoubtedly we shall lose some of the surplus we have been aiming to obtain in 

 the last five years, because during the year 1921 there have been but two ships contracted 

 for in the United States — one a Sandsucker out at Manitowoc, of 1,200 tons displacement, 

 and anotlier small ship, which is not classed at all, so that next year, should there be a 

 revival in shipbuilding, there will not be any increase in the returns until a year after, and 

 I am looking for a decline in the extent of ourservice, but not by any means any decline in 

 the matter of the efficiency of it, and any hint which can be given to us, where our service 

 can be improved, will be taken with a great deal of pleasure. 



The President : — The Chair felt quite sure that the distinguished president of the 

 American Bureau of Shipping would not let pass the opportunity to spurn the suggestion of 

 their being immaculate or not being willing to accept suggestions for improvement. It is a 

 very great pleasure for the Chair to state personally and on behalf of the Society, that the 

 present standing, the present efficiency of the American Bureau of Shipping, is due to the 

 devoted and efficient work of the president, its Board of Managers, and its executives, prac- 

 tically all of whom are members of this Society. When Commander Taylor says that the 

 Society has no capital stock, he is quite correct; when he says the Society pays no divi- 

 dends, I rather take issue with him. The dividends do not take the form of checks received, 

 but they do take the form of giving protection to the entire merchant marine and affording an 

 American method of giving the highest certificate of efficiency to American-built vessels. 

 That is a dividend which is shared, not only by the merchant marine, but the whole Ameri- 

 can nation. 



Will any other gentleman discuss this paper which Mr. Dobson has presented? If not, 

 the Chair desires to express to the author the thanks of the Society for his contribution. 

 While papers of this kind are not very provocative of discussion, they are very important 

 to have in our records, and will be read with great interest by those who are not members. 



I am requested to make the following annoimcement : The coast-guard cutter Tampa, 

 equipped with a synchronous motor drive, is at Pier 59, foot of 18th Street, North River, 

 and is open for inspection by members of the Society. She will remain there all today 

 and tomorrow. It is understood that Colonel Simmons has made arrangements for taxicab 

 service to the dock in connection with the Annual Marine Exposition of the Marine Equip- 

 ment Association of America. 



On Saturday, through the courtesy of the Shipping Board, the Victorious, latest freighter 

 to be converted to electric drive, also the Leviathan, will be open for inspection to naval archi- 

 tects and marine engineers. 



Tugs leave Pier 59, foot of West 20th Street, at 10 a. m. The Victorious is of 12,000 

 tons deadweight, 3,000 shaft horse-power, revolutions per minute, 100, magnetic and manual 

 control, 3 Scotch boilers, 200 degrees superheat. 



Complimentary tickets for visiting the ships may be had upon application at the enroll- 

 ment desk in the lobby of the Central Mercantile Building. 



The Marine Equipment Association has arranged to enroll members of the Society if 

 they will stop at the registration table at the rear of the hall. Enrollment will admit mem- 

 bers to the exhibition at the Central Mercantile Building without charge. 



