History of the manufacture of armor plate for the United States navy . mitting the item of profit, would then read as follows: Cost of labor and material in double-forged, Harveyized, nick-el-steel armor, per ton $ Allowance for maintenance at 10 per cent, on plant costing $3,-000,000 would be $300,000 per annum, which, on an outputof 2,000 tons per annum, would amount to, per ton Add for nickel, to be fornished hereafter by the contractor, per ton Making $ Armor sold at $400 per ton would thus yield a profit of$34 per ton, amounting, on 2,000 tons per year, to $68,000
History of the manufacture of armor plate for the United States navy . mitting the item of profit, would then read as follows: Cost of labor and material in double-forged, Harveyized, nick-el-steel armor, per ton $ Allowance for maintenance at 10 per cent, on plant costing $3,-000,000 would be $300,000 per annum, which, on an outputof 2,000 tons per annum, would amount to, per ton Add for nickel, to be fornished hereafter by the contractor, per ton Making $ Armor sold at $400 per ton would thus yield a profit of$34 per ton, amounting, on 2,000 tons per year, to $68,000,or per cent, on the capital invested, nothing being al-lowed for interest on the capital. Senator Chandler hasdissented from the allowance of 10 per cent, for mainte-nance made by Secretary Herbert, and has estimated that6 per cent, would be sufl&cient. This would reduce themaintenance charge per toh to $90, making the total cost C re g 3 5^ ! St!?;?^^ ° re « ~-cr*-o nO z O ?0 s ^ p EX 7* m g V- re p-J ha^. re F re B*^ C ?• re re H ^ re > z >. ARMOR PLATE FOR THE NAVY. \) / $306 per ton of armor, or a profit of $94 per ton, which,on an annual output of 2,000 tons, would be |188,000,or per cent, on the investment.] CONGRESSIONAL LIMITATION OF PRICE. With these estimates before it Congress, on March 3,1897, established an arbitrary price of $300 per ton tobe paid for armor. To show approximately what thisprice means let it be assumed that for three years therehave been manufactured 2,000 tons of armor per year,which is about the average quantity, and which, at theprice of $300 per ton, would yield the gross sum of $1,-800,000, or $600,000 per year. The cost of the plant,with a fair allowance for working capital, would amountto about $4,000,000. If, therefore, armor should cost noth-ing to make, the above gross receipts per year would beonly 15 per cent, on the capital invested in a plant whichmay within a few years be worthless. Foreign govern-ments are sati
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Keywords: ., boo, bookcentury1800, bookdecade1890, booksubjectunitedstatesnavy
