Daily News (Kingston, ON), 10 Dec 1879

p.3

The Lake Marine

The Cleveland Penny Post has compiled a valuable article on the extent, character, value and profits of the lake commerce for the past seven years, with the present tendencies and future outlook. The important facts adduced from the article are that the number of craft has materially diminished since 1873, while the tonnage has slightly increased. The style has materially changed since that time from sail to steam and towing vessels. Sail vessels are fast disappearing, and their places are being filled by steam propellers and towing vessels. The increase in the number of steam and towing craft is marked as is also their increase in size. The great majority of the vessels now afloat are old, and must rapidly pass out of existence; hence if there is not a striking revival in vessel building during this and the two succeeding years, the marine of the lakes must show a startling decrease. A healthy increase in building is, however, already noticeable, and must be augmented by the large increase in the quantity of freight to be moved and the increase in freight rates. The lake marine, like the railroads, is fast passing into the control of large corporations, which must in a few years monopolize the business. There has been a remarkable decrease in the valuation of vessel property since 1873, but the late rise in freights is already enhancing it again. The profits this fall are good, and during the past few months extraordinary. The increased productions of the country and the revival of business will make these advanced rates permanent. Capital, therefore, judiciously invested in vessel property, will for several years return good dividends.

Short Notes - The schr. Ontario left Belleville yesterday with coal (sic), the last vessel of the season.