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"Problem 1.-Having given the par value of the stock and the rate of dividend, to find the dividend.

"Thus: Mr. Brown owns 250 shares, each $100, of railroad stock, which declares an annual dividend of 10 per cent.? What is the increase?

"Here the base and rate are given to find the percentage, and you multiply the base by the rate.

"Problem 2.—Having the par value and premium or discount, to find the market value.

"Thus: What is the cost of 250 shares of railroad stock that is selling at a premium of 5 per cent.?

"Here you have the base and rate to find the amount, but if the stock was selling at a discount of 5 per cent., you would then have the base and rate to find the difference. This problem is often stated in another way, as, What is the cost of 250 shares of railroad stock that is selling at $1.05, brokerage being per cent.?

"You may either solve as before, adding the brokerage, or you may find the market value of one share, and then the (market value of 1 share + the brokerage) × the number of shares equals the cost.

"Problem 3.-Having given the amount to be invested and the market value, to find the number of shares that may be purchased.

"Thus, Mr. Brown wishes to invest $5631.25 in railroad stocks selling at 112g. How many shares can he purchase?

"When the stock is above par you have the amount and the rate to find the base, and when below par you have the amount and the rate to find the difference. The same result will be obtained if you divide the amount to be invested by the market value of one share.

"Problem 4.-Having given the amount to be invested, the market value of the stock, and the rate of interest or dividend, to find the annual income.

"Thus: If John Jones invests $3150 in United States currency 6s at $1.05, what will be his annual income?

"If you divide the amount invested by the market value, you will have the par value; then multiply the par value by the rate.

"Problem 5.-Having given the market value of the stock at time of purchase and the rate of interest on the stock, to find the rate of interest on the investment.

"Thus: If Mr. Brown purchases United States 5 per cent. bonds at 112, what per cent. will his investment yield him?

"Here, the interest on the stock computed at its par value may be considered as the percentage, and the amount invested as the base; hence, divide the annual income of the stock (the percentage) by the cost of the stock (the base) and you have then the rate of interest on the investment."

(To be continued.)

SERVICE SALAD.

The Castle of San Juan de Ulloa. "THE castle of San Juan de Ulloa,' taken, together with the fortified city of Vera Cruz, by the combined action of the army and navy of the United States. The army commanded by General Scott, the navy by Commodores Conner and Perry in succession."

Referring to the above quoted footnote under the sketch of the "Castle of San Juan de Ulloa," as given on page 116 of the February number of the UNITED SERVICE, I desire to submit a few remarks and dates in the interest of accurate naval history, referring more especially to the latter clause, which I

have underscored.

On the morning of March 21, 1847, Commodore Perry took command of the squadron as commander-in-chief, relieving Commodore Conner.

On the 22d the work of landing the naval battery, as arranged between General Scott and Commodore Perry, began. On the same date the "Mosquito fleet," consisting of several small vessels (two of which were steamers, "Spitfire" and "Vixen"), took up a favorable position by orders of Commodore Perry, and opened fire on the city and castle. This little fleet was under the immediate command of Captain Tatnall, commanding the "Spitfire," to which vessel I was attached.

The naval records will show that from the date of the landing of the army, on the 9th, until the attack on the city and castle, on the 22d, the navy afloat was comparatively at rest, with the exception of the plucky but unauthorized attack on the castle by Captain Tatnall on the morning of the 10th.

This early morning effort was apparently without any visible results, and we

were ordered back to the anchorage, our captain full of regrets that no one was killed or wounded. We afterwards learned, however, that General Worth had expressed his regrets at our recall, "as we were distracting the attention of the enemy from his movements in direction of a position he was anxious to secure."

From the above dates and recorded facts, it will be seen that the active work of the navy in the attack and capture of the city of Vera Cruz and San Juan de Ulloa, in connection with the army, began and was brought to a successful conclusion from and after the date (March 21) upon which Commodore Conner surrendered his command to Commodore Perry.

History will award to Commodore Conner the credit of originating and carrying out to a successful conclusion the landing of an army of some twelve thousand men on an enemy's shore, within easy range of his guns, without loss or injury of a single man, a military manœuvre the importance of which, I am sure, was fully appreciated by General Scott.

But to demand for Commodore Conner (even inferentially) an active part in the work of taking the city of Vera Cruz and the castle of San Juan de Ulloa is claiming for him more than the records will justify, and, I am sure, more than he would ask, were he alive.

To Commodore Perry belongs the exclusive credit for the active work done by the navy between the 21st and 27th of March, 1847, in the capture of Vera Cruz and San Juan de Ulloa. There was no succession after the 21st until the end of the war.

W. H. SHOCK,
U. S. Navy.

A Sea Tragedy of 1840.
(From the New York Sun.)

THE EXECUTION OF MIDSHIPMAN SPEN-
CER FOR MUTINY.

He was a Son of President Tyler's Secretary of War and was hanged at the Yard-Arm of the United States Brig "Somers" with two other Members of the Crew, without Trial, and loudly protesting his Innocence.

NEW YORK nowadays is seldom at a loss for a sensational occurrence or an event that sets tongues wagging. But half a century ago its much gossiped about events were few and far between. Then the city did not have a yellow fever journalism, as now, that invented sensations in default of actual ones. Wherefore when, during the closing month of the year 1842, the Sun announced that the brig "Somers," belonging to the navy, had anchored in our bay, returning from her cruise without a midshipman -who was the son of John C. Spencer, then Secretary of War-and a boatswain's mate and an ordinary seaman, who had started with the brig, and that the reason for their absence was that they had been hanged at the yard-arm without trial by order of Commander Alexander Slidell Mackenzie, the community was greatly excited. The excitement was deepened when, a few days later, it was made known that Secretary of War Spencer, the father of the midshipman, was prostrated by the intelligence, and that President Tyler and other members of the cabinet seemed greatly shocked. Inquiries made by Sun reporters were simply answered by statements that a mutiny had been fomented by the three who had been executed, and that only by such prompt punishment had Commander Mackenzie, Lieutenant Gansevoort, Purser Heiskel, Quartermaster Rogers, Surgeon Leecock, and Midshipmen Hayes, Rogers, Thompson, and Tillotson been saved from contemplated murder, primarily instigated by Midshipman Philip Spencer. The sensation deepened when finally it became known that he had planned, through the mutiny and the murders, to convert the brig into a pirate vessel and scour the seas for prey.

The officers of the "Somers," however, declined to talk freely about the affair,

because restrained by official and professional etiquette, but some of the crew were communicative, so that little by little the details of the tragedy became known, and as more particulars became public popular excitement increased all over New York and adjacent cities. Those details almost immediately became matters of record through a court of inquiry held on board the United States frigate "North Carolina," lying in our port. Not only was the tragedy thus conspicuous in public regard because of the relationship of the condemned midshipman to the cabinet officer, but also because Commander Mackenzie had already been notable in literary circles as author of several books of travel, and also politically notable as being the brother of Congressman John Slidell, of New Orleans, -he who, twenty years later, while a Confederate commissioner, was captured on the steamer "Trent" by Commodore Wilkes, and was the occasion of a serious diplomatic controversy between England and the Washington administration.

The press of the whole Union, as the mails arrived, came to discuss the tragedy, some newspapers maintaining that the execution of the alleged ringleaders of the alleged mutiny, without a hearing and on the ipse dixit of Commander Mackenzie, aided by the advice of his officers, was a cowardly murder; while other editors upheld his action as the consequence of necessary discipline. The court of inquiry and subsequent courtmartial were hastened by the demand not only of Commander Mackenzie, but also of Secretary Spencer, who became anxious to have the slayer of his son punished.

The commander was the youngest son of John Slidell, Senior, who had long been an esteemed merchant and manufacturer of this city, prominent in its society and in its politics, for he had been a Tammany Sachem. The commander, also well known in New York society, had five years before this "Somers" tragedy taken the name of Mackenzie at the request of his mother's brother, who made its adoption the condition of a large legacy to the commander, his

favorite relative.

The "Somers" had set out on a cruise around the West Indies in order to train for the navy a number of cadets, or, as they were then termed, naval apprentices. The brig was of two hundred and sixty-six tons and the fleetest sailer in the navy. After leaving Norfolk with dispatches for the frigate Vandalia," cruising off the western coast of Africa, Commander Mackenzie had made the Azores, touching at Madeira and next at Teneriffe; but, not encountering the frigate, he continued on to Liberia, where it was reported that the "Vandalia" had already sailed for home. He left the sealed dispatches with a consular agent and next directed his course towards St. Thomas, intending to there procure supplies. While nearing the West Indies on the night of November 25 the purser's steward, John W. Wales, was encountered by Midshpman Spencer on deck. In a mysterious manner Spencer asked Wales to get on top of the booms with him, as he had a matter of importance to communicate. No sooner were the two seated out of hearing from deck than, according to the extraordinary testimony of Wales, Midshipman Spencer abruptly opened conversation by asking, in a sepulchral voice,

"Are you afraid of death? Do you fear a dead man? Dare you kill any. body?"

Wales having answered negatively, Spencer asked Wales to raise his hand and swear to God he would never reveal what the midshipman would now tell him. Wales, stimulated by curiosity, took the oath which this boy of nineteen administered, and was then informed that Spencer was, as ringleader, leagued | with twenty of the brig's company to instigate a sham alarm and a fight some night at midwatch, seize the deck officer, throw him overboard, kill all the officers, and commence piracy. Spencer outlined the plan with great circumstantiality, and told how much money was already on board the brig, and how rich prizes would be soon captured. Spencer asked Wales to join. Wales, with mental reservations that had begun with his oath, promised to consider the proposition and to make his assent or dissent known the next day.

66

Now, if meanwhile," concluded Spencer, "you blow on us, and every movement of yours shall be watched,-your life will not be worth a minute's purchase."

On the following morning Wales repeated the story to his superior, the purser, who, in turn, told it to the first lieutenant. The latter immediately visited Commander Mackenzie and imparted Wales's story to him. When the commander heard it, to quote what he afterwards testified about the matter, "I regarded the story as monstrous and improbable, and became under the impression that Spencer had been reading piratical tales and was amusing himself with Wales."

Nevertheless, Mackenzie thought he would watch Spencer, and soon found him examining the charts and making minutes with a pencil. Next Spencer was found asking the sailing master the rate of the chronometer, while he seemed unusually chummy with the crew. Mackenzie concluded on the next day to examine Spencer himself. The latter immediately admitted the conversation with Wales, yet declared it was all a joke; but Mackenzie answered that he must make further inquiries, and in the mean time would arrest Spencer and place him in irons. That was immediately done, and on Spencer's locker being searched a mysterious paper was discovered bearing the names of the officers and crew spelled with the Greek alphabet under the headlines "sure" and “doubtful," and puzzlingly crossed with pen marks. That night there was a mysterious and unaccountable falling of a topmast and some confusion among the sailors in clearing the wreckage. Mackenzie, taking this incident in connection with Spencer's story, armed all the officers and doubled guards.

Samuel Cromwell, boatswain's mate, and Elisha Small, ordinary seaman, had been noticed to hold furtive meetings with Spencer on several occasions, and from their actions as they passed Spencer, who was in irons in a corner of the quarter deck, Mackenzie was induced to arrest and fetter them. He next mustered the crew and apprentices, and made them an address, taking Wales's dis

Officers on the next day reported to the commander that the crew acted discontentedly, and worked languidly, and that some of the ship's company and apprentices collected in groups and conversed in low and suspicious tones. When Spencer had been four days in irons, Mackenzie's fears constantly increasing, he summoned his six officers in council, asking them to consult together and enlighten him with their opinion as to the best course to be pursued. They met -all quite young and inexperienced and found the three under arrest "to have been guilty of a full and determined intention to commit a mutiny on this vessel of a most atrocious character." They recommended (although no overt act had been committed) that the prisoners be put to death. Not one of the alleged mutineers was brought before the council or allowed to make any explanation or be heard in his defense.

covery as a text, and bidding them take | possession. He engaged in prayer, and warning if any were disposed to thoughts I went and made similar communications or intentions towards rescuing Spencer, to the other two. Cromwell fell upon his Cromwell, and Small, or carrying out knees, completely unmanned, protested mutinous designs. his innocence, and invoked the name of his wife. Spencer had already said to me, 'As these are my last words I have to say, I trust they will be believed: Cromwell is innocent.' Small, on knowing his fate, said, 'I have nobody to care for me but my poor old mother, and I would rather she would never know the manner in which I died.' Returning to Spencer, he said to me, 'Have you not formed an exaggerated estimate of the extent of the conspiracy?' I answered in the negative. He then wished to be shot instead of being disgracefully hanged. I told him this could not be. I extended his time to the end of the hour. He asked for a Bible and prayer-book, which were brought. In one he read a bit, and kneeling, repeated from the other the prayer for the dying. He dictated to me a message to his father, which I wrote down. He added, 'Ah, this will kill my mother.' The prisoners were now unironed, and under armed guard conducted to the gangway, where the nooses hung. They asked to have their faces covered, and bags were drawn over them. I directed that all the crew and apprentices should man the rope that was to swing them into eternity."

Commander Mackenzie's plea when concurring in the opinion of his subalterns was, "In the necessities of my position I found my law, and in those I must trust to find my justification." He lost no time in carrying out the sentence of death, and all hands were piped to punishment. He at once informed Spencer of the decision and his fate, and, indeed, had not the face of the doomed youth been turned aft, from his position he could have seen the whips preparing at the main yard arms, which were known preparations for a hanging on board a naval vessel. The young midshipman was told that ten minutes would be allowed to him and to Cromwell and Small to dictate any dying message to their families, and to make their peace with heaven. Describing the occurrences Mackenzie said,— "The intimation overcame Spencer entirely. He sank, with tears, upon his knees, and said, 'I am not fit to die.' I then repeated to him from the catechism, and begged him as an officer to set to the men he had corrupted and seduced the example of dying with decorum. That immediately restored him to entire self

The commander gave the word, but before it was heard Cromwell had addressed his executioners, and said, "Tell my wife and Lieutenant Morris that I die an innocent man." Small also addressed them, urging them to always do their duty to the country. The flag was then hoisted to the peak, the signal gun fired, and in a few minutes all three had been choked to death after some struggles. The commander now called, "Three cheers for the old flag," which were given, and then, "Three cheers for God Almighty," which were also given.

Spencer's body was put into a rude box duly weighted and the other two were wrapped in their weighted hammocks, and all were dropped over the side, while with prayer-books distributed to the crew Mackenzie read the burial service for the dead. Referring to this afterwards, Mackenzie said, "I could not but humbly

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