The Universal Modern Cambist PDF Download

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1872 edition. Excerpt: ...wages and other expenses. The loss of freight by jettison, when any freight is earned, is matter of general average. If the cargo is transshipped on board another vessel, and in that way sent to the port of destination, the contributory value of the freight is the gross amount, less the sum paid the other vessel. The voluntary damage to the ship, with a view to the general good, --such as throwing over her furniture, destroying her equipments, cutting away her masts, breaking up her decks to get at the cargo for the purpose of throwing it over, &c, --is contributed for at two-thirds the cost of repairing and restoring; the new articles being supposed one-half better, or worth one-half more, than the old. If we let V--contributory value of tlie vessel, C z= contributory value of the cargo, F = contributory value of the freight, d z= aggregate amount of losses to be averaged, then /-7-(Yr--C--F) = r, the per cent, of each interest that each must contribute, and VX T zz: "Vessel's share of the loss, C X if = Cargo's share of the loss, FX r zz: Freight's share of the loss. When a contributory interest's share of the loss is to be distributed among the several owners of that interest, the same pro rata method is to be observed: thus A X r = sum A must contribute, B X: = sum B must contribute, D X T = sum D must contribute; A, B, and D being A's, B's, and D's respective shares in that interest. 136 ASSESSMENT OE TAXES.--INSURANCE. ASSESSMENT OF TAXES. G = amount of taxable property, real and personal, as per grand list. A = amount of money to be raised, including the whole poll-tax. T = amount of money to be raised on property alone. n--number of ratable polls. h = poll-tax per head. r = rate per cent, to be raised on taxable property. P...