41 



Receipts for oil and guano. 



Oil at 1 6 per cent on 5^ tons, nearly f of a ton at ks. 



Rs. 160, say ... ... ... ... ... 135 



Guano at 18 per cent on 5^ tons, nearly i ton at, 



say, Rs. 65 55 



Total ... I go 



Receipts for edible portion. 

 Two and a quarter tons dry sardine at Rs. 90, say 200 



Grand total of receipts ... 390 

 Z'^i//^/ expenses ... 180 



Net profit ... 210 



Hence the profit is practically the same as when whole 

 sardines are boiled, with the advantage that nearly half 

 the weight of fish is retained as direct food. The profit 

 depends largely on the rate at which the edible portion 

 is sold as food, here entered as only Rs. 90 per ton ; 

 since most of the inedible parts are removed and about 

 two-thirds of the useless moisture, the somewhat oily 

 dried fish are nearly solid food, and this food, if sold at 

 8 pies per lb., would fetch Rs. 93 per ton ; much of the 

 station sardine has been sold at prices about Rs. 90. 

 Moreover, in one way our expenses for salt were 

 less than stated, since boiled or filtered brine from other 

 fish was used , per contra the salt was either washed or 

 was English salt ; the rate charged in the above table is 

 what it would cost an ordinary fish-curing yard curer. 

 It will be seen that all expenses are paid by the oil and 

 guano, so that the proceeds of the edible fish are solid 

 gain. Allowing that 10 tons of fish dry on the beach 

 into 4 tons of sand-free manure (I have seen quantities 

 which are mere shells), these dried fish, if costing when 

 fresh Rs. 100, would, at an average of Rs. 30 per ton, 

 fetch only Rs. 120 ; even 5 tons would fetch only Rs. 150. 

 The real profits are made out of the i^ tons of sand 

 which adhere to the 5 tons of fish, so that the gross 

 return is Rs. 195 or a profit of Rs. C55. Hence not only 

 is the profit far smaller, but the wastage of oil and 

 nitrogen and the addition of sand are almost criminal. 

 For further details my paper must be referred to. 



