First cost, 9500_l._--Interest, 5 per cent. £475
Repairs, ordinary tear and wear, at 7-1/2 per cent. 710
Wages, say 1,270
Provisions, say 730
Insurance, 10 per cent. 950
------
Total £4,135
Exclusive of yearly depreciation of capital--say, last seventeen years,
is 558_l._ 16_s._ yearly.
The per centage here taken for yearly supplies, is below the true
outlay. The following sums, in full details, have been received from
a very accurate and competent hand, of the outfits of a _new_ vessel
of 230 tons, cost 4000_l._, for six successive voyages in the West
Indian trade, during a period of 48 months. It is considered unnecessary
to insert the details at length. The amount is given for
each voyage:--
1st Voyage £96 11 5 4th Voyage £646 3 11
2d ditto 219 17 0 5th ditto 348 12 8
3d ditto 301 1 4 6th ditto 266 8 2
_________ __________
£617 9 9 £1261 4 9
_________ __________
Together £1878 14 6 Average £313 2 6
Nearly EIGHT per cent, for each voyage, or _twenty-four_ per cent. per
annum. The amount would also increase yearly with the age of the
ship.