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November. 1910 TAe Marine REVIEW LookInG AFT, JULY 23, SHowING TANK Top, SIDE TANK AND ArcH BEAM CONSTRUCTION. turing concerns, and would involve thou- sands of skilled mechanics being thrown . upon the streets." Alluding to the new dry dock scheme, at Levis, Sir Robert mentioned that the plans and detailed drawings had now been lodged with the dominion govern- ment, in accordance with the dry dock subsidy act of May last, and the joint stock company headed by the Canadian Pacific railway and the Allan line had been registered in Canada for carrying out this: work. "The dock," said Sic Robert, "will be of the largest type, 1,000 ft. long, and will be entitled to the subsidy on the first scale guaranteed under the dominion dry dock act of 314 per cent on $4,000,000 for 35 years." The company's financial arrangements are all concluded, subject to the assent of the dominion government, and all the plans and schedules which were lodged witht the government on Sept. 28 are now under their consideration. Annual Meeting of the American Ship Buildimg Co. HE annual meeting of the stock- holders of the American Ship Building Co. was held in Jersey City, N. J., on Oct. 13. No change was made in the directorate or of- ficers. W. L. Brown continues as chairman of the board of directors, James C. Wallace as president, Rus- sell C. Wetmore as vice president and treasurer; Ora J. Fish, secretary and assistant treasurer; R. B. Wal- lace, general manager; James i: Hoyt, general counsel and M: A: Chew, assistant secretary. The financial statement shows that the company is well entrenched, the sum of $884,322.27 being added to surplus, making the surplus as of June 30 last, $7,003,974.73. Cash on hand totalled $902,045.02. President James C. Wallace in his annual re- port says: The year's business of the company has been quite satisfactory, both in volume and results. CAPITAL STOCK. Remains unchanged from last year, viz.: AUTHORIZED. gis 000 900 Pies ee ee oe Total i. vive wi es ie ee ee oe a $30,000,000 ISSUED. $4,500,000 Sigel i eoa oun Total 2.05 ee chr es eee iene + <5 $15,500,000 Dividends. Regular quarterly dividends of 1% per cent have been paid on the pre- ferred stock, and four quarterly divi- 447 defids of 1 per cent have been paid on the common stock. PROPERTY OWNED AND CONTROLLED. CLEVELAND, 0. Construction yard, machine shops, foundries, boiler shops, three dry docks. : LORAIN, 0. Construction yard, two dry docks, shop, boiler shop. DETROIT, MICH. shops, boiler shops, foundry, works, three dry docks. WYANDOTTE, MICH. Construction yard, machine shop. 3 SUPERIOR, WIS. Construction yard, machine shop, two dry docks, CHICAGO, ILL. Two construction yards, two machine shors, three dry docks. _ MILWAUKEE, WIS. Machine shop, two dry docks. : BUFFALO, N. Y. Construction yard, machine shop, three dry ocks. PORT ARTHUR, ONT., CAN. Construction yard, one dry dock. machine Machine breae Condition of the Property. The various properties have been kept in good condition and up to the highest standard of efficiency. At Buffalo there has been com- pleted a new modern, fully equipped, 700-ft. dry dock, and in place of de- stroyed by fire, an office building and boiler house. At Port Arthur, Canada, your chair- man and president have given consid- erable attention to the work of con- struction, and hope that by Jan. 1, next, we will have in operation there, a 700-ft. dry dock, steel punch shop building, machine shop, building berth and equipment, and the plant gener- ally in condition for operation, and we have very satisfactory assurances of a fair volume of business. At Lorain a new forge shop, cap- able of making the heaviest forgings that are used in vessel construction, will be completed and in operation Nov. 1, next VESSELS BUILT. Carrying Vessels capacity. Plants. built. Net tons. Superior) 520).< fo 53. sea 1 9,500 Lorain 23) ose ce 12 102,000 Cleveland. vrei oe eco s 2 19,000 Detroit isu8: cose eesioams woe 6 23,000 Dittalo 2 sc ees oc a 2 ear. Chicago--5.... « Youd ate ees Qe Pe ees TOTAL, Vessels built 2 oc. 4 ce ace cia ee 23 Carrying capacity, net tons......--.. «2 153,500 Carrying capacity is based on 19-ft. draught. Summary and Prospects. The company has built and com- pleted 23 vessels during its fiscal year, and now has under contract 12 vessels. The general introduction of larger and heavier ore unloading ma- chinery is making certain changes in vessel construction necessary, and while the outlook for new construc- tion seems limited and probably will be, we have assurances of consider- able work in repairs and changes in construction that will give us a fair business during the year.