FELLOWSHIP. FELLOWSHIP is a rule by which the accounts of several merchants or other persons, trading in partnership, are so adjusted, that each may have his share of the gain, or sustain his share of the loss, in proportion to his share of the joint stock and the time of its continuance in trade. NOTE. By this rule, a bankrupt's estate may be divided among his creditors. SINGLE FELLOWSHIP. Single Fellowship is, when the stock of each of the several partners is continued in trade the same length of time. RULE. As the whole amount of stock, is to the whole gain or loss, so is each man's stock, to his share of the gain or loss.* PROOF.--Add all the shares of the gain or loss together ; and if the work be right, the sum will be equal to the whole gain or loss. EXAMPLES. 1. A, B, and C traded in partnership. A put into the stock 400 dollars, B put io 300 dollars, and C put in 200 dollars ; they gained 270 dollars : what was each man's share of the gain in proportion to what he put in? * That their gain or loss, in this Rule, is in proportion to their stocks, is evident: For as the times, in which the stocks are io trade, are equal, if I put in one half of the whole stock, I ought to have one half of the gain ; if my part of the stock be one fourth, my share of the gain or loss ought to be one fourth also. And generally the same ratio that the whole stock has to the whole gain or loss, must each person's particular stock have to bis respective gain or loss. 253. What is Fellowship? -254. What is Single Fellowship?. -255. What is the rule ; and upon what principle is it founded ?- -256. What is the method of proof? 2. Divide the number 360 into four equal parts, which shall be to each other, as 3, 4, 5, and 6. 3: 60 Answer. 4: 80 360 Proof. 3. A gentleman dying, left two sons and a daughter, to whom he bequeathed the following sums, viz. To the first son be gave 1200 dollars, to the second 1000 dollars, and to the daughter, 800 dollars ; but it was found, that his whole estate amounted only to 750 dollars ; what must each child receive of the estate, in proportion to the legacies ? 300 first gon's portion. Answer,{250 second son's portion. 200 daughter's portion. 4. A, B, and C traded in partnership. A put in 385 dollars, 50 cents ; B put in 297 dollars, 75 cents; and C put in 175 dollars, 25 cents ; they gained 343 dollars, 40 cents ; what was each one's share of the gain ? . 119 10 B's gain. 70 10 C's gain Answer, $$164 20 A's gain. DOUBLE FELLOWSHIP. Double Fellowship, or Fellowship with time, is when the stocks of partners are continued unequal times. RULE.-Multiply each man's stock by the time it was continued in trade. Then, As the whole sum of the products is to the whole gain or loss, so is each man's particular product to his particular share of the loss or gain.* . 1. A, B, and C traded in company. A put in 400 dollars, for 9 months; B put in 300 dollars, for 6 inonths; C put in 200 dollars for 5 months: they gained 320 dollars; what was each man's share of the gain ? $ $ $ $ 400 300 200 As 6400 : 320 : : 1800 6 1800 $3600 A's pr. 1800 1000 256 32 64100)5760100($90 B's gain. As 6100 ; 320 : : 3600 576 3600 0 192 $ $ 96 As 6400 : 320 : : 1000 1000 64/00)11620100($180 A-s gain. 64 64|00)3200100($50 C's gain. 320 0 D Gros: Net * When the stock of each partner is employed io trade the same length of time, with th share of the gain or loss is, evidently, in proportion to the stock; and when the stoc each partner is the same, but employed in trade a different leugth of time, the share o gain or loss is in proportion to the time; bụt when neither are the same, the share been de gain or loss of each partner must, evidertly, be in proportion to the product of the multiplied by the time. 1 260. 1 tare? di 257. What is Double Fellowship ?- 258. What is the rule? -_259. Espla difference between the two kinds of Fellowship? 2. Two merchants entered into partnership for 18 months; K first put into stock $400, and at the end of 8 months he put in $200 more ; L; at first, put in $1100, and at the end of 4 months took out $280.-Now at the expiration of the time, they found they had gained $1052 : What is each man's just share ? Ans. K, $385.90. L, $646.10. 3. A, B, and C, hold a pasture in common, for which they pay £20 per annun. In this pasture, A had 40 oxen for 76 days; B had 36 oxen for 50 days, and C had 50 oxen for 90 days. I demand what part each of these tenants ought to pay of the £20. £ s. d. 9. 6 10 2 13:48 A's part. Ans. 3 17 1 02429 Bós part. 9 12 8 2344 C's part. 0 CUSTOM HOUSE ALLOWANCES. The only allowances which are made in the weight of goods, at the Custom-Houses of the United States, are tare, and draft or scalage. Tare is an allowance made for the weight of the box, bag, hogshead, cask, &c. which contains the goods, and it is either at so much per cent. or at so much per box, &c. or the real or actual tare. Draft or scalage is an allowance of 1 per cent. on the whole gross weight of all goods, except tea and sugar, which is to be deducted before casting the tare. On tea, no draft is allowed. On sugar, there is a deduction to be made for draft or scalage, before casting the tare, of 7 pounds on every hogshead, 4 pounds on every tierce, 2 pounds on every barrel, and 4 pounds on every Havanna box. Gross weight is the whole weight of any kind of goods, together with the box, bag, or cask, &c. which contains them. Net weight is the weight of the goods after all allowances have been deducted. * 260. What allowances are made at the Americun custom houses ?-261. What is tare? draft or scalage ? gross weight ? and net weight? CASE I. To find the net weight of goods, when the tare is at 80 much per cent., with the allowance for draft or scalage. RULE. 1. When the scalage is & per cent. divide the whole gross weight by 200, and the quotient will be the scalage. 2. When the scalage is so much per hogshead, box, &c. multiply the scalage of one by the number of hogsheads, boxes, &c. and the product will be the whole scalage. 8. Subtract the scalage from the gross weight, then multiply the remainder by the tare per cent. and divide the product by 100, the quotient will be the whole tare, which subtract from what remained after the scalage was deducted, and the remainder will be the net weight.* EXAMPLES. 1. A merchant bought 15 boxes of brown Havanna sugar, weighing 6740 lbs, gross, tare 15 per cent., scalage 4 lbs. per box ; what was the net weight of the sugar, and what was its valge at $10:25 per hundred weight? 5678 lbs =50 cwt. 2 qrs. 22 lbs. net weight. Aps: $519-63847 value. 1 2. What is the net weight of 4 bags of coffee, weighing 480 lbs. gross, allowing 2 per cent for tare, and per cent for scalage; and what is the value of the net weight, at 18 cents per pound? 468 lbs. net weight. Ans. $84.24 value. To find the net weight of goods, when the tare is at 80 much per bo. cask, chest, fc. either with or without the allowance for draft a scalage. * la casting tare and scalage, remainders, which do not exceed half a pound, are not usaally reckoned, but if they exceed half a pound, then another pound is to be reckoned. 262. What is the rule ta find the net weight of goods, when the tare is at so much per cent, with an allowance for draft or scalage ? |