JUNE 1ST
US Consul Seth C. Hawley at Nassau writes commenting on continued blockade-running attempts. He named 28 ships that either made or attempted to run the blockade since March 10th and observed that 13 had not been successful. "This proportion of loss seems too large to allow business to be profitable, but this view is deceptive." He used the blockade-runner Ella and Annie as an example, sayimg it had started business in April and had made two successful voyages and was now absent on a third attempt.
"One voyage outward, cargo, say $100,000.
One voyage expense, etc. $15,000
Total, $115,000.
She returns with 1,300 bales of cotton, weighing an average of 400 pounds per bale, equal to 45 cents a pound, or $234,000.
From which, deduct cost of $115,000.
This leaves profit of $119,000."
More to Come. --Old B-Runner
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