The Maritime History of the Great Lakes
Detroit Tribune (Detroit, MI), 17 Apr, 1875

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PROFIT AND LOSS IN CARRYING GRAIN. - An estimate is made by a Chicago paper of the receipts and expenditures of a vessel of a carrying capacity of 25,000 bushels on a trip to Buffalo, with a cargo of wheat at 3 cents per bushel, and a return cargo of coal at 30 cents per ton, free in and out. The cost of the vessel is placed at $25,000, or one dollar for each bushel of carrying capacity on a wheat basis. The vessel is expected to carry the following crew: A captain at $4 per day; first mate $3; second mate $1.75; steward $1.50 and six men before the mast at $1.50 each. The amount of provisions consumed is at the rate of 40 cents each per day or $4 per day for the entire crew, making the expense of the vessel for hands and provisions $23.25 per day.

A list of items of expense follows, aggregating $1,521.21, while the credit side of the account shows only $960, viz.: 25,000 bushels at 3 cents, and coal back at 30 cents per ton. This shows a deficit of $560.25 on the round trip between those ports. It adds: "it shows that an ordinary grain carrier cannot carry grain at less than 6 cents per bushel and pay expenses. The estimates given above are very fair, the shortage item especially so (25 bushels) and even so with the general depreciation estimate, and great latitude is given in allowing three cents per bushel, as some charters late last season were made at 2.4 cents per bushel, 6 mills less than is allowed in the above statement.

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17 Apr, 1875
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Dave Swayze
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Public domain: Copyright has expired according to the applicable Canadian or American laws. No restrictions on use.
Maritime History of the Great Lakes
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Detroit Tribune (Detroit, MI), 17 Apr, 1875