Data sources
Kingston Shipping Company and its accounting system
Profit trends
KSCO tracked the average earnings per day, the average expenses per day, and the excess of this amount (see Table 3 for summary figures). This daily excess increased by 20.5 per cent from 1908 to 1909, but fell again in 1910. The following two years were the most profitable for the firm, with profits dropping by 51.8 per cent in 1913.18 Salmon (1998) examines the profit of KSCO in terms of the percentage of gross earnings derived from the grain trade (see Table 3). An examination of this relationship is informative.