57 



figures or lire 150,000 (Rs. 90,000) is a fair approxima- 

 tion of the net average annual profit derived by the 

 Commune during any series of years marked by normal 

 conditions. Such a series is now current and a similar 

 cycle lasted from 1869 to 1891 as noted above when the 

 income varied between the same limits. 



Samaritani arrives at identical results in a calculation 

 of the net annual profits upon the working of a period 

 of 15 years ending with 1883. For this series he states 

 the average yield of fish as : — 



843,564 kilos of eels. 74> I2 4 kilos of mullet. 



He calculates that two-thirds of the eels will be 

 distributed in the marinated condition at an average 

 price of lire no per quintal (Rs. 66 per 220 lb., say 4 

 annas 10 pies per lb.), and that the remainder of the 

 fish will be sold fresh, the eels at lire 80 per 100 kilos 

 (Rs. 48 per 220 lb.) and the mullet at lire 60 per 100 

 kilos (Rs. 36 per 200 lb. or 2 annas 8 pies per lb.). 



On this basis he estimates the proceeds as follows :- 



Two-thirds of the eels, sold marinated at lir 

 1 10 per quintal 



One-third sold fresh at lire 80 per quintal 



74,124 kilos of mullet at lire 60 per quintal 



Sale of smelts and miscellaneous fish 



Sale of hay and rent of pasturage 



Shooting rents 



Sundry receipts ... 



Average gross annual receipts 



LIRE. 



6i8,6i3 - 6o 

 224,95°"4o 



44,474'4° 

 6,ooo'oo 



1 1,800*00 

 3,6oo - oo 

 5,ooo - oo 



9 I 4»43 8 '4o 



The annual expenditure does not vary in correspond- 

 ence with the fluctuations in receipts, and may be taken 

 to average 750,000 lire, the precise mean of 26 years 

 being given by Samaritani as lire 755,230. Deducting 

 this sum from that given above as the average gross 

 receipts, we find the net annual profit of the undertaking 

 to be lire 159,208. The area of the lagoon during these 

 years was 39,500 hectares, so this sum is equivalent to a 

 working profit of lire 4-05 per hectare or lire r66 

 (exactly one rupee) per acre, an extremely unsatisfactory 



