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_ about six. months’ notice. THE MARINE RECORD. ESTABLISHED 1878. Published Every Thursday by THE MARINE RECORD PUBLISHING CO., Incorporated. Cc. E, RUSKIN, - - - Manager, CAPT. JOHN SWAINSON, - = 0 Ae Editor. THOS. WILLIAMS, Chicago, - - Associate. * CLEVELAND, CHICAGO. Western Reserve Building. Royal Insurance Building. SUBSCRIPTION. One Copy, one year, postage paid, - Sos O2,00 One Copy, one year, to foreign countries, = - - - $3.00 _ Invariably in advance. ADVERTISINC Rates given on application. All communications should be addressed to the Cleveland office. THE MARINE RECORD PUBLISHING CO., Western Reserve Building, Cleveland, O. Entered at Cleveland Postoffice as second-class mail matter. CLEVELAND, O., MARCH 2, 1899. Our thanks are due the Light-House Board for a copy of the annual report of the fiscal year ended June 30, 1898. On oe oh Ir is)-beyond the comprehension of the ordinary citizen who desires certain statistics or data to understand why the United States Government can’t issue facts or figures under ‘The public printing office at Washington must certainly be winged. a TT THE cargo of the steamer Arthur Orr, which was stranded ou the north shore of Lake Superior last fall, was purloined by nearly everyone who could reach for it. This sort of thieving has been much too common on the lakes and it is a great, satisfaction to learn that insurance companies have brought a number of the robbers to time and made them re- turn the. stolen — merchandise taken from the wrecked steamer. —$_>_$————$——— IIT AS EAA It WOULD be an economy well based if the officers of the Lake Carriers’ Association could inaugurate this year a court of arbitration for the settlement of all claims, but chiefly that of towage, salvage and collisions. The tribunal might consist of members of the executive committee of the association assisted by men of mercantile experience and such legal talent as might be thought necessary for adjust- ment of the judicial, or rather documentary phases of the cases which would come before the voluntary adjudicators. On a municipal basis, the president of the Chamber of Commerce, for instance, might be appointed chairman of the arbitration court, at whatever city the case or claim was to be considered and decided. In view of the latter event it would be well for the representatives of the friendly litigants to sign an agreement whereby all parties would recognize and be bound by the arbitral decision of the mutually empowered court dealing with the subject matter, although, in some instances this court might decline to pro- vide grounds for the settlement of the case, yet such a course would not debar either parties from having recourse to or seeking satisfaction before a regularly constituted legal tribunal. Such a departure or innovation as this, the court of arbitration would find work only among those owners who were inclined to settle any differences of statements, opinions, etc., in an amicable, and as a consequence, equit- able manner, nor would it be of any use for those who are, or might be, litigiously inclined. On the other hand, those agreeing to abide by the decision of the arbitration board should stand ready to give any security required by the court for the satisfaction of the costs incurred, including the findings of the court. There are long drawn out cases by the score and it is safe to say that hundreds of thousands of dollars are at this moment involved in legal technicalities which might have been settled at a minimum cost to all in- terested, but which will ultimately make those pay the piper who are kept dancing:to the tune of the courts of admiralty. MARINE INSURANCE. The competiton may be so brisk that risks on hull insur- ance may no longer be considered duly remunerative to the underwriter, but we doubt it very much. Let us glance for a moment at the annual statement of the Atlantic Mutual Insurance Company, of New York, the largest mutual ma- rine company in the world. The statement of its affairs on the 31st of December last shows assets amounting to $10,- 874,923. It has just paid 6 per cent. interest to the holders of the outstanding certificates of profits; it has redeemed and paid the outstanding certificates of the issue of 1893, and it has paid a dividend of 4o per cent. on the net earned premiums of the company for last year—the participators in the dividend being the policy-holders, the company being worked on the mutual basis. The question, however, is to the point of whether there is any profits in the business of un- derwriting, whether such profits revert to the assured or the private underwriter? Is the business properly and economi- cally conducted a lucrative one? Well! the foregoing an- nual report would indicate that the Atlantic people are making a Klondike out of it, and if they do why can’t others? Though it may be admitted that the war risks of last year helped to swell the present annual profits. Quoting from the annual report of the British and Foreign Marine Insurance Company, the statement of accounts shows that the underwriting account for 1897, resulted in a profit of £14,421 17s. To this sum must be added the in- terest account for 1898, amounting to £48,956 17s. 1d., and profit on investments realized £3,732 198s. These sums, with £161,924 8s. 2d. brought forward from 1897, leave to the credit of profit and loss account £229,036 Is. 3d. An interim dividend of 8s. per share was paid on the Ist July last, and a further dividend has been declared of 8s. per share, and a bonus of 4s. per share, both free of income tax, payable on the 16th February, making a, distribution of 20s. per share, or 25 per cent. for the year. After providing for income tax, the balance of 160,752 17s. 11d. remains to be carried to next account. The premiums taken for the year amount to £593,618 os. 8d., and the claims settled to £285,786 Is. 4d., leaving a net balance, after deducting expenses, of £294,573 18s. 8d. at the edit of underwriting account. Having quoted in the foregoing the annual reports of leading assurers of both sides of the Atlantic we may leave it for our readers to judge whether from Io to 40 per cent. earnings, or, as in the two cases mentioned, 25 and 4o per cent. is ‘‘hard tack’’ or ‘‘gilded gingerbread”’ and if under- writing hulls and cargoes on the lakes is at all likely to go to the demnition bow wows. Candidly, we don’t think so. — or A WISCONSIN VESSEL ASSESSIIENT BILL. Senator E. G. Mills, of West Superior, Wis., last week introduced a bill in the upper house of the legislature which if enacted into law will practically exempt from taxation all classes of vessel property owned within the borders of the state of Wisconsin. It is proposed to place a tax of three cents per net ton on craft, which shall be in full payment for all demands against such property. .One half of this sum shall be paid to the state and the balance to the county in which the property is owned. In order to show the effect it will have if enacted into law the Sturgeon Bay Advocate examined the official records on file at the custom house and finds that the entire fleet of seven steamers and tugs owned by the Leathem & Smith Towing and Wrecking Co., of Sevastopol will pay a tax of $34, although the aggregate valuation of the property is given at $100,000. Also that the steamer Virginia, of the Goodrich line, whose value is upwards of $100,000 would pay less than $30. The palatial steamers North West and North Land, which cost upward of $500,000 each, and are the property of the Great Northern Railway Co., would pay about $70 apiece. A steam yacht, regardless of whether she cost $15,000 or $25,000, providing her tonnage does not exceed 15 would get off with the insignificant sum of 45 cents. On such favorable terms of taxation, providing the law was enacted, Wisconsin would no doubt soon become the hailing State for a majority of the lake tonnage. . Whether the bill is an injudicious one or otherwise, it is not our pro- vince to dwell upon at this time. OO Oe oe Iv Is an unpleasant fact that, at the present time, more than 85 per cent. of the foreign commerce of the United States is conducted by means of foreign ships, and not only with the countries under whose flag such ships sail, but with other countries having little or no ocean marine, the result of which is that there is a constant, powerful and successful influence exerted in favor of the productions and manu- — factures of the country whose flag is borne by the trading ~ ship and by all the accessories of government aids and of mercantile and financial influences in the ports and coun- tries to which such ships go. The United States should adopt a corresponding policy, and by the most liberal in- ducements rehabilitate our merchant marine, and try, by — every fair means, to regain the position we once occupied, and which we ought, must and certainly will occupy in ee future. : : OO oO eS FOR LIGHT-HOUSE KEEPERS. LicHtT-Hovusk ESTABLISHMENT, Ones OF THE LIGHT-HOUSE INSPECTOR NINTH DISTRICT. CHICAGO, IL, Feb. 27, 1899. POSITIONS IN THE LIGHT-HOUSE SERVICE. Notice is hereby given that an examination for the position of master of light-vessel in the Light-House Service, in this. — district, which includes Lake Michigan, Green Bay, and trib- utary watars lying west of a line drawn across Straights of 4 Mackinac at Macinac Point, Michigan, will be held March: 30th 1899. Persons who wish to apply for the examination for the foregoing position should obtain the proper blank forms of - application from this office, either in person or by mail, and after filling them out return them to this office. Applica i need not appear in person. ee All applications received will be examined, the applicants graded according to merit, and a list of those eligible for appointment sent to the Light-House Board. This notice is issued in place of the one dated Janney 31st, 1899. C. O. ALLIBONE, Commander, U.S. Navy, © Inspector 9th Light-House District, ie Chairman Local Civel Service Board. rr oo or THE SAILING VESSEL LAW. a Jas. A. Dumont, Supervising Inspector General of Steam ~ Vessels, has taken steps to enforce the new law which places # sailing vessels and their masters and mates on the same foot- ing as steamers in respect to the inspection of hulls and the «| licensing of the navigators. The law requires that owners, agents, masters and chief mates of sailing vessels of over 700 tons (gross) and of other vessels and barges of over Ioo tons (gross), carrying pas- sengers for hire, shall after July 1 have the hulls of such vessels inspected and certified by the local inspectors of | steam vessels. Masters and chief mates must.be examined / and licensed, and after July 1 it will be unlawful for owners ~ to employ any person to serve as a master or chief mate who ~ is not licensed. The penalty will be $100 for each offense. Local inspectors may license as masters and chief mates — of sail vessels of over 700 tons upon receipt of satisfactory — documentary evidence that said masters or mates have been actually employed as such officers on vessels of the tonnage ~ named for twelve months preceding the application; if free from color blindness, Applicants’ who have had no pre- vious service as master or mate, except on rivers and on the Great Lakes, must be duly examined in navigation. No master shall be licensed who has not served one year as chief mate, nor shall any person be eligible as chief mate © unless he can furnish satisfactory documentary evidence © that he has had at least three full years’ experience on sail vessels of 300 gross tons and upward. Tue local iuspectors will be prepared to receive aponed : tions on or about May 1, 1899. Applications by owners of | sail vessels of 700 tons ad upward, and of all other vessels — and barges over 100 tons burden, carrying passengers for — hire, will also receive consideraton on and after May 1. A failure on the part of an owner to have the vessel’s hull in- © spected and certified will subject him toa penalty of $500. © so ‘ REcEIPTS of grain at the head of the lakes last week were _ again large. Wheat receipts amounted to 788,329 bushels, ~ and corn receipts, 385,473 bushels. Receipts of other grain in bushels were as follows: Oats, 267,669; rye, 17,110; bar- — ley 25,246; flaxseed, 17,660. The shipments were compara- 7 tively light, The wheat shipments equalled 22,234 bushels, — and the corn, 4,286, while the shipments of rye amounted to a 6,525 bushels, and of barley 1,188 bushels. 4 Mills took 95,- — 084 bushels, leaving in store 7,115,475 bushels. The amount . afloat in the harbor is 267,708 bushels. The increase in — stocks amounted to 671,011 bushels. Stocks of other grain now in store are as follows, in bushels: Corn, 4,120,588; oats, 1,483,653; rye, 250,692; barley,'386,568; flax, 1,075,388.