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98)

Many other places in America have turned their attention to the subject, which been the means of many not being able to continue in the business. However others have launched in to it, some of whom will see their error when it is too late.
In the year 1841 there was owned in this place 98 Ships worth Estimated value 480000
Steam Boat Massachusetts built same year 38000
Camels also the same year 40000
Uncommon repairs of the Wharf 12000
570000
(See some remarks on the Camels see Page 117)

1842
Doing so much in one year has proved a material damage to the place, viz
Fitting out 22 Ships & 9 New ones
Building Camels
Steamboat Massachusetts
Altogether proved a great stagnation to business. Those who owned the Ships & extended their business far beyond their means to comport with, which caused very straiting times Many very, who were rich in property could not pay their debts where money was required. Which caused great suffering, with many of the rich & more particularly the poor, who have neither work nor any thing that will buy bread.
The great dependence with the people of property was the market for Oil & Candles, which has almost ceased to bear a price. There is now a vast quanity of Oil and Candles, and will no bear a price at any rate. The Island as to property is very rich, & the market flush with every thing that is required for family use and the prices of every thing very low. Flour 4½ to 5 Corn 60 Cts. [CENTS] Molasses 25 - Oil 60 Cts. Beef 6 $ P [PER] lb [POUND] Pork 6½ And goods at the Shops cheaper than they have been for many years.

12m/o
Information is received that the Ship Jefferson of this Port, Capt. [BLANK SPACE - WILLIAM] Cash with about 2500 bls. [BARRELS] Spm. [SPERM] Oil was totally lost at Atouaa [ATOOI] - Sandwich Islands. She was pretty well Insured, but some of the Owners have suffered great loss.
Wm. [WILLIAM] Folger, Laban Paddack, Edwd. [EDWARD] Field.

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