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1902. ] MARINE REVIEW. 15 INQUIRY INTO AMERICAN TRADE CONDITIONS. During the past year Messrs. Alexander Sahlin, J. Stephen Jeans, Ebenezer Parks and Enoch James visited the United States as the repre- sentatives of the British Iron Trade Association to inquire into the iron, steel and allied industries of the United States. They have now formu- lated their reports. Mr. Jeans, in his report, commits himself to the be- lief that the iron and steel trade is a growing one and is likely to con- tinually increase rather than diminish. But in commenting on the United States Steel Corporation he speaks of the large profit of $55,000,000 for the first six months of its existence and inquires: "Is it not then justifiable to assume that if the Steel Corporation earned only £11,000,000 as net profits in such months of such good trade as that above specified, when they might be expected to have a chance of earning at last £20,000,000 a year in excess of the actual prices current in depressed times, the apparent possible profits under ordinary conditions and former prices in those times would, ex hypothesi, not exceed £2,000,- 000, subject to modifications in wages and a few other charges, which would hardly do more than pay 2 per cent on the £110,000,000 of 7 per cent. cumulative stock? And if the corporation had to face six or seven years of bed rock prices on these terms where would their prosperity be and how would their chances of continued life be affected?" On the purely human side of the inquiry there are some interesting comments upon American habits of life, not only by J. S. Jeans, but also by Alex. Sahlin. The former remarks: "One of the notable characteristics of the principal cities.and indus- trial centers of the United States is the comparative absence of a leisured class, such as may be found in every country in Europe. The typical American appears to live only to work, and to work at something that will be a life-long career of usefulness to himself as an individual, and to the community as interested in mechanical improvements and economies. In the great manufacturing cities a man who has no regular business, _ "Among American managers is often found a reminder of the college spirit and comradeship of youth. Each man feels attracted to his fellows working in the same field. They meet, exchange views to mutual benefit, and are always ready to ask or to give each other assistance or informa- tion. To this fellow feeling contributes greatly the congenial and hearty tone prevailing at the meetings of the American engineering societies first, and last the American Institute of Mining Engineers. Few of us who have been privileged to meet and know the men who are the leaders of this society but can thank them for many a friendship and many a hint which has helped to make our professional life more easy or more profit- able. As an example of this spirit it happened, during my recent stay in America, that an isolated, large modern blast furnace, through a serious breakdown, came near being chilled. There were only two men to tide the disheartening work of trying to save the furnace--the manager and his assistant. Both soon became thoroughly worn out, and their bodily fatigue was reacting on their spirits. One blustery afternoon, two young blast furnace managers, both with fine reputations and excellent records, appeared at the furnace, having come from a distance, traveling bag with working outfit in hand. 'Say, old man; we heard you had trouble, and we know you are short handed; we came up to see if we could not take shifts and do what we can to help pull you through.' And be it said to the honor of the manager in trouble, he was not too vain to accept the offered assistance which his neighbors had shown the good will and faith in his broad-mindedness to venture to offer." BOSTON STEAMSHIP CO.'S FREIGHT ROUTES. The Boston Steamship Co., after three months of negotiation with J. J. Hill of the Northern Pacific and Great Northern railroads, has finally decided upon the destination of its freight steamers. By the transfer this week of the freight steamship Tremont, sister ship to the Shawmut, by Kidder, Peabody & Co. to the Boston Steamship Co., the Copyrighted by the International Navigation Co. THE RED STAR LINER KROONLAND. Built by Wm. Cramp & Sons Ship & Engine Building Co., Philadelphia, Pa. who is not concerned in the development of some industry, who is not an agriculturist, a railway man, a manufacturer, or engaged in a pro- fession, is more or less at sea. He will find it much more difficult than in any European country to get men of character, capacity and intelli- gence to share his leisure in ordinary working hours, however learned they may be." Alex. Sahlin in a chapter in his report on "Direction, Management and Labor" was struck with very much the same thing. He says: "In America, the personal factor in iron making is recognized to be fully as important as that of plant. It is not the guns which win the bat- tle, but the men who stand behind them. A good weapon, poorly aimed, is not dangerous, but neither will it do to arm good fighters with obso- lete guns. In the above report I have tried to show that the guns--that is, the plants--are splendidly and powerfully equipped, that raw materials are plentiful and good, and that the system of transportation and handling is unexcelled. In this chapter I wish to speak of the men as I have learned to know them during twenty years of association. I have often heard it erroneously stated that the Americans worship dollars. This is not so, because a rich man as such is not greatly esteemed. What the American admires and honors is the ability to do; that capacity in a man, through his own sagacity, nerve, enterprise and skill to create and employ a fortune. Nobody in America seems to feel above his work or degraded by it. As it is done, and as is the result obtained, so is the man esteemed by his fellow men, and such is the place he will make for himself in his community or in his country. Everybody works, and works for the sake of work; and thus there has been produced in America in the short space of one generation an industrial potentiality which is more wonderful and more to be feared than the works and plants which these same workers have created. Nowhere is the struggling youth more kindly encouraged, more readily trusted, more generously aided, more gladly made place for, than in America, and when I say this I speak from personal experience, and with gratitude in my heart toward many of those busy and keen, but also generous and broad-minded American men of affairs." And again: company now has its full quota of steamers. The Boston Steamship Co. has entered into a contract with the Northern Pacific and Great North- ern railroads to establish a steamship line from Puget Sound to the Orient, in connection with the three Boston Tow Boat 'Co.'s_ ships, Pleiades, Hyades and Lyra. The Shawmut, Tremont and Hyades are to run between Seattle, Tacoma and Victoria, in Puget Sound; Yoko- hama, Kobe and Moji, in Japan; Shanghai and Hong Kong in China, and Manila. The Hyades sails on her first trip July 20, the Shawmut Aug. 21 and the Tremont Nov. 7. It will take three months to make the round trip. The Shawmut arrived at San Francisco from the Atlantic coasts on Monday evening, June 30, having made the trip, stopping at Coronel, Chile, in fifty-two days, a new time record for the distance. The Tre- mont will take in part of a cargo of rails at Sparrow's Point, where she was built; will proceed to New York, where she will take on a gen- eral cargo, and then sail about Aug. 1 for San Francisco, stopping at St. Lucas and Coronel for coal, being due to arrive at San Francisco Sept. 20. The Lyra and Pleiades will run between Puget Sound, Vladi- vostok, in Siberia, and ports in North China. The Lyra makes her first trip from Puget Sound Aug. 5. The Boston Steamship Co. has taken steps toward acquiring the Boston Steamship Co., Incorporated, which company was granted a charter at the last session of the Massachusetts legislature. The shares of the present company will be exchanged for the shares of the Boston Steamship 'Co., Incorporated, on a share-for- share basis. No change will be made in the bonds. The promoters of the Norfolk & Hampton Roads Ship Yard Co., which was chartered by the last session of the Virginia legislature, met last week and elected the following officers: Joseph B. Sanford, presi- dent; ex-Gov. Atkinson of West Virginia, vice-president; Mayor N. Beaman of Norfolk, treasurer, and D. P. Blont of Norfolk, secretary. - When the ship yard is established it will be at Sewall's Point. e ry