enal; it could be bought in the Confederacy for six to eight cents per pound and sold at $.25-$1.00 per pound in England.[21] Other statistics show that it was bought at three cents per pound and sold at fifty, and this made a quarter of a million dollar profit on each voyage (one way) common, and a firm could then easily afford to lose a ship after just two successful voyages.[22] Often just one successful voyage would be sufficient. Although operating costs were very high ($80,000 per runner per month), often two trips would pay $170,000 and any additional trips would be pure profit for the English companies involved.[23] These companies saw profits soar as never before. Throughout the war, companies paid from 500-1,000 percent on their stocks. In the spring of 1864, stock bought at $3,200 was sold six months later at $6,000 and had also paid a $500 dividend.[24] That the financial odds were so favorable for blockade-runners is testimony to the blockade's ineffectiveness. There were also other factors that lured men into this trade. Daring and adventurous skippers enjoyed the excitement, and have described it as "rollicking good fun."[25] William Watson, a blockade-runner in the Gulf, remarked, "On the whole (it is) a rather enjoyable occupation, with something of the zest of yacht-racing-- a kind of exciting sport of the highest order."[26] These blockade-runners entered the trade with visions of great These blockade-runners entered the trade with visions of great success, and most often that was the case. In part this was due to the difficulty of blockade duty for the Union sailors. While it may have been "rollicking good fun" for blockade-runners, it remained "perfect hell" for blockaders.[27] Blockade duty was boring and monotonous. It was also very hard because blockade-running ships were often superior to the blockaders. The blockaders most often had inadequate speed and poor seagoing qualities and many of them were sailing ship...
