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Little did her designers and builders imagine that they were the pioneers of an industry that would one day place St. John in the fourth place among the cities of the British empire as a shipowning port and lead her to claim the proud title of "the Liverpool of America."

Ask Captain Robinson here. . . . And there was another shipowning fellow a fat chap in a white waistcoat in Wellington, who seemed to think I was up to some swindle or other. 'I don't know what sort of fool you're looking for, he says, 'but I am busy just now. Good morning. I longed to take him in my two hands and smash him through the window of his own office. But I didn't.

The three great types of compound engines may be placed as follows in the order of their general acceptance by the shipowning community: The two-cylinder intermediate-receiver compound engine, having cranks at right angles.

Didn't I take my risk when I bought her? She might have been too far gone; and where would I have been? Loudon," he cried, "I tell you the truth: you're too full of refinement for this world!" "I condemn you out of your own lips," I replied. "'The fairest kind of shipowning, says you. If you please, let us only do the fairest kind of business."

For twenty-five years succeeding the adoption of the Constitution the maritime interest both shipbuilding and shipowning thrived more, perhaps, than any other gainful industry pursued by the Americans. Yet it was a time when every imaginable device was employed to keep our people out of the ocean-carrying trade.

If it was American, you would be crying it down all day. It's Anglomania common Anglomania," he cried, with growing irritation. "I will not make money by risking men's lives," was my ultimatum. "Great Cæsar! isn't all speculation a risk? Isn't the fairest kind of shipowning to risk men's lives? And mining how's that for risk? And look at the elevator business there's danger if you like!

There was no knowing where a man would stop, who had got his foot into a great mill-owning, shipowning business like that of Guest & Co., with a banking concern attached. And Mrs. Deane, as her intimate female friends observed, was proud and "having" enough; she wouldn't let her husband stand still in the world for want of spurring. "Maggie," said Mrs.

Didn't I take my risk when I bought her? She might have been too far gone; and where would I have been? Loudon," he cried, "I tell you the truth: you're too full of refinement for this world!" "I condemn you out of your own lips," I replied. "'The fairest kind of shipowning, says you. If you please, let us only do the fairest kind of business."

Once the palmy days of the third quarter of the century were over the decline went on at an ever-increasing rate. In 1875 Canada built nearly 500 vessels, and, if small craft are included, the tonnage must have nearly reached 200,000. In 1900 she built 29 vessels, of 7751 tons steam, steel, wood, and sail. Shipowning does not show such a dramatic contrast, but the decline has been very marked.

He had tasted of power, the highest form of it his limited experience was aware of the power of shipowning. What a deception! Vanity of vanities! He wondered at his folly. He had thrown away the substance for the shadow. Of the gratification of wealth he did not know enough to excite his imagination with any visions of luxury.