Chapter XXXI: Section IV: General Results of his entire Whale-fishing Adventures

In conclusion of these records of my Father's Arctic enterprises, commercially, there remain yet to be given the _general_ comparisons and results, in which we shall again find them to be great and pre-eminent. The materials for these comparisons, on my Father's part, are compendiously exhibited in the following summary of his various voyages:--

TABULAR VIEW OF THE SUCCESSES OF THE LATE W. SCORESBY, ESQ., IN HIS ADVENTURES IN THE GREENLAND WHALE-FISHERY.

--------------------------------------------------------- | | | Cargo obtained. No. of | | |----------------------- Voyage. | Year.| Ship commanded. | Whales. | Tuns of Oil. --------+------+-----------------+---------+------------- 1 | 1791 | Henrietta. | clean. | nil. 2 | 1792 | " | 18 | 112 3 | 1793 | " | 6 | 90 4 | 1794 | " | 6 | 120 5 | 1795 | " | 25 | 143 6 | 1796 | " | 9 | 112 7 | 1797 | " | 16 | 152 8 | 1798 | Dundee. | 36 | 198 9 | 1799 | " | 12 | 144 10 | 1800 | " | 3 | 45 11 | 1801 | " | 23 | 225 12 | 1802 | " | 20 | 200 13 | 1803 | Resolution. | 13 | 164 14 | 1804 | " | 33 | 188 15 | 1805 | " | 30 | 196 16 | 1806 | " | 24 | 216 17 | 1807 | " | 13 | 213 18 | 1808 | " | 27 | 210 19 | 1809 | " | 26 | 216 20 | 1810 | " | 28 | 214 21 | 1811 | John. | 16 | 200 22 | 1812 | " | 25 | 198 23 | 1813 | " | 28 | 190 24 | 1814 | " | 35 | 249 -- | 1815 | [on shore.] | -- | -- 25 | 1816 | Mars. | 20 | 170 26 | 1817 | " | 6 | 82 -- | 1818 | [on shore.] | -- | -- 27 | 1819 | Fame. | 10 | 120 28 | 1820 | " | 10 | 184 29 | 1821 | " | 9 | 143 30 | 1822 | " | 6 | 70

The total number of voyages in which he held the command in the fishery, from first to last, was just thirty. The entire cargoes obtained, under this personal guidance, comprised the produce of 533 whales,--"a greater number," says his friend Mr. Drew, "than has fallen to the share of any other individual in Europe,"--with that of many thousands of seals, some hundreds of walruses, very many narwals, and probably not less than sixty bears. The quantity of oil yielded by this produce was 4664 tuns, of whalebone about 240 tons weight, besides the skins of the seals, bears, and walruses taken.

From hence we derive a general average, during the thirty voyages, of eighteen whales, yielding 155·5 tuns of oil per voyage; or, omitting the first voyage, which, for reasons stated in Chapter II., ought fairly to be excluded, the average would be 18·4 whales, yielding 160 tuns of oil for each voyage.

In comparison of the general average of the British whale-fishery, this, no doubt, stands singularly high. But not having the materials for the exact determination of this general comparison, we may take the Hull whale-fishery for our guidance, which, from the large number of ships regularly engaged therein, will, it is believed, afford a fair estimate. And this section of the fishery, we find, comprised, betwixt the years 1791 and 1822 inclusive, an average of twenty-two ships annually, the cargoes of which, during that period, averaged 84·5 tuns of oil a voyage per ship. Compared with this, it is seen, that my Father's yearly average was almost double the quantity!

It is not possible, because of the lack of accounts as to several of my Father's ships, to ascertain, except proximately, the actual value of the produce now determined; but, from the variety of information now before me, as to the marketable value of Greenland produce during a considerable majority of the years corresponding with these voyages, I have been enabled to calculate the gross proceeds of the whole thirty years adventures, in money, at 196,591_l._, or possibly a full 200,000_l._!

The proportion of expenses due to these enterprises and results may, in like manner, be proximately calculated. For, if the Hull fishery, with little more than half of my Father's success, were fairly remunerative,--as it obviously must have been to induce perseverance therein,--then, the residue of his catch above that average may, mainly, be considered as clear profit; for, in such estimate, we set off the _additional_ expenses incurred where there is superior success against the actual remunerating profits in the inferior success. On this estimate we should have the value of, say, seventy-five tuns of oil and four tons of whalebone for the clear profit; or, out of a gross annual produce of the value of 6600_l._, a residue calculated to yield about 3000_l._ a voyage profit.[N]

This estimate would give the sum of 90,000_l._, or, omitting the first voyage, 87,000_l._ for the amount of this individual skill and enterprise, divided, in the shape of profits, among the owners embarked in the general enterprise! On another ground of calculation, guided by the proportion of expenses in certain known cases, the expenses were taken at two-fifths the produce, which would reduce the profits (probably too low) to about 80,000_l._

In setting forth this result as very remarkable, it is with reference, it should be observed, to the instrumentality and _capital_ employed. It is no uncommon thing for a sum like this, or much greater than this, to be realized in commercial enterprises; but, in such cases, there are generally many instruments and a large capital employed in the business. But here, under the one individual direction, there was but one ship employed, involving an investment of capital of from 6000_l._ to 12,700_l._, or, on an average, not exceeding 9000_l._, and this small investment yielding, through a series of about thirty years, no less a sum than 3000_l._ a year, being at the rate of 33-1/3 per cent per annum on the capital employed.