capital paid up
«01
.1 ”. $ 1,000,000.
Lemmas cassHAM st.
Sixplus V . .
w. L 11121111110111, President.
L
$200,000
I.
Hon. IOHN G. CARLISLE
the United States ..
ROLAND R. CONKLIN‘
Company
Former Secretary of the Treasury of
Vice—Pres. North American Trust
DIRECTORS.
ARNOLD MARCUS TM Oregon R. R. 8c Navigation Co.
Secretary 151lo American Trust
Comma? - . ,
' C. W.‘ DRAKE-:- "
Treasure: of the Rio Grande 8c West-
‘ ’ em Railway Company ~,
Vice-Pres. North American Trust
Company , -
Hon. ADELAI E. STEVENSON
Ex-Vice-President of the Usited
States.
Gen. 'WAGER SWAY‘ N E
Of Messrs. Swayne 8r JSwayne
“ CounsellorssataLaw
W. L. I RENHOLM'
Puma Comptroller of the Currency
of,the United States '
NEW YORK: 100 BROADWAY.
LONDON: 95 GRESHAM ST.
HAVANA: 27 CUBA ST.
SANTIAGO 11E CUBA.
incorporated companies.
Transacts a general trust business.
Allows liberal rates of interest on deposits and trust funds.
Issues Letters of Credit and Travellers’ Circular Notes payable in dollars or in the money of any foreign country.
Acts as Trustee under mortgages for railway and other companies, and as Agent for the Registration of the stock, and for the transfer of the shares of
prospects of reorganization proposals.
Qualified and empowered to act as executor, administrator, trustee, guardian and assignee, and as receiver and custodian of funds under orders of Court.
The NORTH AMERICAN TRUST COMPANY has established offices at SANTIAGO and HAVANA, and 15 prepared to buy and sell drafts on and
to make payments in Cuba, and to transact a general banking business. THE COMPANY 15 also prepared to receive the deposits of the SOLDIERS and
SAILORS now in CU BA, and, under their directions, to make remittances to their families 1n the UNITED STATES.
an advisory capacity about new enterprises in ALL LINES OF TRADE and MANUFACTURING, as well as in CITY PROPERTIES, WINTER
HOMES, ELECTRIC PLANTS, RAILROADS, INDUSTRIALS, SUGAR and TOBACCO PLANTATIONS, in CUBA, and to hold 1n trust PROP-
ERTIES, CONTRACTS, MORTGAGES, and BONDS, either pending the closing of negotiations or for more extended or more definite periods.
- A Especial attention is called to the relations 0f THE COMPANY already established at MANILA with the CHARTERED BANK OF INDIA, AUS-
TRAI IA, and CHIN A, sufficient for the present needs of our MANUFACTURERS, MERCHANTS, TRAVELLERS, SOLDIERS, and SAILORS.
‘Undertakes the ex ..minatio-n of properties offered as security for bond issues, and the obtaining of expert information concerning the actual facts and
\
Also to investigate and report in
SHIPPING.
'NEW—YORK IN THE LAST YEAR HAS BE-
COME THE LEADING PORT IN
THE WORLD.
COM MERGE AND
THE GREATEST OCEAN STEAMSHIP COMPANIES
MAKE THIS PORT A TERMINAL—HUNDREDS
OF MILES OF WATERFRONT—IMPROVE-
MENTS 0F DOCKS—CRAFT OF EV-
ERY VARIETY STIR UP THE
WATERS OF NEW-
YORK BAY.
In- that portion of the history of the city of
New-York which relates to shipping the year
1898 marks an important epoch. E. T. Chamber-
lin, United States Commissioner of Navigation,
in a. recent report shows that in point of the
tonnage entering and clearing at any of the
ports of the world, New—York occupies, for the
first time, the foremost position. This city is
now not only the greatest shipping centre of the
United States, but has won the coveted position
no long held by Great Britain. Nature 'in. all
her wonderful creations, designed and perfected
no more magnificent Work than the Bay of
New-York, and man from the earliest days of
international commerCe has been keen to take
advantage of the rare facilities offered. In the
department of imports New-York has enjoyed
for years fully two-thirds of the entire foreign
trade of the whole United States, while in ex-
ports a goodly one-half has been her portion,
although at the present time the percentage has
fallen slightly before 47. This refers to
the foreign trade of the country. If the domestic
commerce, which includes the coastwise and in-
terior trade, were included, the supremacy and
power of New-York as a port would be still fur-
ther increased.
The enlarged city has a. total of 353 miles of
water-front, distributed as follows: Borbughs of
Manhattan and The Bronx, 100 miles; Borough
of Brooklyn and all other portions of Long Isl-
and included in the city, 201 miles; Staten Isl-
and, fifty-two miles The Dock Commission of
the city, which began its work in 1872, has been
accomplishing many important results Since
that time. During the last two years improve-
ments on the North River have been under way
at. a. cost of about $6,000 Five large new
pier: have been built, which have been leased
to several of the important transatlantic lines,
and it is expected that nine more piers of a sim-
ilar character will be built, extending, from
Gmevoort-stuto Twenty-third-st., at a cost of,
about $9,000,000. From a financial standpoint
it has been stated that no department of the
city has been of more promise in the way of re—
turn. It is estimated that from the large rents
obtained tom thou piers not only will the Is-
terest be paid, but in the course of time addi-
tions to the sinking fund will be made, so that
the bonds can be retired when they become due.
THE DEMAND FORVPIERS.
In addition to this, the 'Commissioners in the
last twenty—eight years have acquired the own-
ership of water—frontage valued at about $150,—
000,000, which has practically cost the city
nothing. The popularity of this port was fully
brought out in the testimony of the Dock Com-
missioners before the Commission appointed by
Governor Black to investigate the condition of
the commerce of the port. It was stated that
application had been made by at least twelve
steamship companies for docks in New-York
which the Commission could not supply, and all
of these were obliged to go to other ports, al—
though they wanted to make New-York the ter-
minal of their systems. The Commission also
stated that if it had the fimds it could build
immediately ten piers on the East River, at a.
cost of $40,000 each, which could be rented
for $20,000 each annually. ' At the present time
the city owns five-eighths of the waterfront of
Manhattan Island. In Brooklyn the waterfront
is controlled largely by private corporations.
While it may be said that the enormous traffic
of New-York has been a. natural development
unaided by any assistance on the part of com-
merce associations or trade combinations, and
that while other seaport cities on the Atlantic
coast have been devoting great energy in the .
direction of attracting commerce, New-York has
practically done nothing. As a result, there
has been a falling off in export trade amount-
ing, it is estimated, to 5 per cent. This does not
appear at first glance to be a large proportion,
but in relataion to the 'whole foreign trade it “
represents a valuation equal to the entire for-
eign trade of Philadelphia and one—half of that-
of Boston.
There has been an awakening of interest in of-
ficial circles in relation to taking action toward
putting New-York on a. better footing, and it is
confidently expected that trade which has shown
a. tendency to decrease will be fully regained,
with constantly increasing additions. The ac-
tion of the Treasury Department will help this
port to a. certain extent, for the reason that ton-
nage charges of 20 per cent a net ton are to‘
be made on trade carried to Porto Rico in ves-
sels other than American. This means that the
European trade will either be sent to New-York
and then reship-ped from here, or else it will be
driven out of the field of competition.
CHIEF PORT OF THE LAND.
New-York as a. port of entry of the United 4 IS
States embraces Brooklyn, Jersey City, and all
other cities and towns lying on New~York Bay,
the Hudson River and the East River. New-
ark, N. J., has a customs office, but a-large por-
tion of its population is engaged in business in
New-York City. As sport of entry, New-York
acts for the entire country, and controls nearly
66 per cent of the entire importations from for-
eign ports.
It has been pointed out that in commerce a
ship serve: two purposes: first, that of transpor-
tation for the merchant; second, that of earn-
ing and saving for its nation a competence of
wealth and power. The merchant's nae of ship-
ping to beneficial whisking employment (or
labor, but the National service is essential to stimulus given to shipbuilding by the naval ere.
prosperity and power; first, in balancing foreign; ation process. American shipbuilders have
commerce, and second, in creating the means of proved that they can turn out as good if not
independence of foreign nations. Commerce better ships than are built on the other side of
consists of transportation as well as trade, and the ocean. The rapid increase in the power and
the charge for freight is dependent upon the size and safety of vessels. has resulted in tho-
cargoes. Transportation must be balanced as large increase in the pa'Ssenger-carrying trade.
well as trade, either by trade itself, by trans- The ordinary globe- tar-otter thinks no more of a
portation, or by exports or impOrts of coin and voyage to London than of a ferry ride to Jersey
bullion. In view of the overwhelming prepon- City or Brboklyn. There is a difference in tho
derance of foreign 'vessels, the difference in the fare and the service is better, but the Atlantic
balance of commerce is readily seen. The co_n- Ocean is practically nothing more than a ferry
glast 1n tgnnage is even more startling, for while between countries.
e num er of vessels in the ocean carrying
grade has decreased, the tonnage has increased SOME FAST VOYAGES-
mmeasurably The modern science of shipbuilding reselvec
In the year 1866 there were 222 American its 11' l - - T11-
steam vessels in the merchant marine of this (1 e nto carrying capacity and speed.
port, and 1,490 sailing vessels. The number of ream 0f the ocean navigator is to command ‘
foreign vessels were 1,812 steamers and 2,185 f6ur~day Ship between New-York and Liverpool,
31111356 crafg. fThe totEEfirggéiean. tonnage was and, judging from what has been done in tho
7...?) , an oreign , , , a__.wide-m‘argin.
The following table illustrates the changes .up .Ppast, it seems not unlikely that this will soon 1”
to 1894, when for the first time New-York com- accomplisbed- In 1801 the ship Africa- as-
merce was able to reach into the million mark tonished people all over the world by making the
With her tonnage of vessels: trip between Liverpool and New-York in six
FOR 1887. _ , weeks. Since then the record. smashing voyage.
American.“ F0 el . . .
St Vesgeg- T033??? vassglls-r §%&a§§‘ lgaaye bee:t as follows.
cam ........... 1' , 7 ,0 ,7 ., 3 _' 8. earner. 133 Hours nuts
Sail ............. -1.414 596,000 2,338 1,393,590 - - . ......“ ... .-.. .10.. 2 m
Totals ......... 1,664 287,677 4,337 5,039,433 11; 3
FOR 1888. 1 4?,
Steam ............ 247 402.359 1.918 8,606,656 1; 45
San .............. 1,276 507,764 1,920 1,156,592 Bamc ‘ 7 20 9
Totals . ........ 1.523 910,123 8,838 4.763.248 8E,’;,,§§,f°flff‘;;;jgfjgjj; if 12'
FOR 1889. : Brita‘nnic ........... 7 10 53
Steam ............ 244 379 430 1,988 ’ 3.751.151 -~--Arizona ---------- 7 7 '33
Sail .............. 1,139 486, 023 1,611 930,203 --Alaska 18 37
..Oregon 11 -
Totals ......... 1,433 865,459 3,599 4,831,362 America - 1: 51—1
FOR. 1890 r
1 . .n on
Steam ........... . 278 446.831 3.343 4,382,944 E3“; , g 1 iii
Sail .............. 1,172 496,577 1,609 931,621 City of Paris ,,,,,,, .,__ 5 19 13
Totals ......... 1,450 943,408 3,957' 5,214,568 2125:3233: """ ”"""" 5 i: 3?
FOR 1891. . Elty of Paris. . . * 11g 24;
Steam ............ 312 494,715 2,378 4 595.574 “can a
. . 2’ ’ - , 1894 ........ Campania 9 20
San ............. 1.112 440,417 1,618 922,131, 1894 ........ “mania ............ g 5 I '23
Totals ......... 1,421 935,172 3,996 5,517,105. These records refer only to the voyage from
FOR 1892 Liverpool to New- York, or return. Before 1886
Steam ............ ’332 558,108 2,835 5.477.801 the voyage was longer as to the time of record,
5311 ...... . ........ 942 436,803 1,359 831.303 but after that year vessels called at Queenstown
Toms ......... 1.274 904,911 4,194 6,309,104 for mail, and the time has always been taken
FOR 1893 from the Rock Light, at the entrance of Queen's-
.. ' town Harbor The records of the American- built
St ...... ... . . n o . ' 1 1 u 1 °
sfif‘f‘nmmn.“ a; 331;: 3%; 5:333? veSsels, such as the St. Lowe and the St. Paul,
‘ - _ have' been made between New-York and South-
Totals --------- 1.153- 943.335 31874I 6.060.690 ampton. From New-York to Southampton tho
3050R628294-1 2 5 Kaiser Wilhelm der Grosse has a record of five
Steam ....... .64 .60 5.417.049 da s, nineteen hour and h'rt ~fiv min.
all .............. 795 394.692 989 617,145 maids: last summer. 3 t 1 y e utes
Totals ......... 1,103 1,087,333 3,594 6,034,194 TERMINUS 0F mANY LINES.
FOR 1895.
Steam 7 .......... 34,5 784,348 2,299 4,907.32 ' TherAmerican people have a decided fondness
Sail ....... . ...... 499 274.216 960 571527 for riding on the fastest train and for voyaginx
. Totals ..... s44 1.038.064 3,259 5,539,859 on {the most Speedy vessel, so it is by no means
. FOR 1896. - . unlikely that records will continue to be lowered.
Steam ............. 336 836,795 2,503 5,230,922 _ _
Sail .......... 664 328.015 875 516,050 In NeW,Y°rk Cit? there are about may 0“
1000 1 16-4 810 3378 $746,970 steamship companies running to London, Paris,
Totals ......H . FOR. 1857 . . ' ' , Amsterdam, Antwerp, Aspinwall, Barbadoes,An-
Steam ............ .329 833.964 . 2,610 1‘11.:11111,:131 “Ella: the Bermudas: south America, central
Sa11.............. 545 274.593 733 2'7-539 America, Mexico, Bremen, Bordeaux, Hall-
Totals an 1,108,560 3,376 6.1.18 920 fax. Hayti. Cuba. Curacao and Copenhagen.
This increase was largely the result of the.
n
through, the Mediterranean, and to Holland.
'. , :1
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Norwalk Chronicler