84 



giving two only ; moreover the large diameter of the 4 

 and 5 ring shells makes them especially valuable and 

 when a good proportion of these are present the value 

 is greatly enhanced especially if the colour be good as it 

 is in Tuticorin shells. If the sections be required for the 

 narrow churi form of bracelet as many as ten rings may 

 be sawn from one shell. 



Basing our calculation upon an average yield of 3 

 ring sections per shell and an average sale price of Rs. 

 18 per 100 sections, the labour of sawing the shells being 

 paid at the rate of Rs. 1-8-0 per 100 rings the profits of 

 a member of the combine who cuts up the shells in his 

 own factory may be estimated approximately at not less 

 than Rs. 174 per 1,000 shells, taking the cost price at 

 Rs. 1 2 1-9-9 per 1,000, the rate obtained by Government 

 for the 1909-10 season's catch — a price higher by Rs. 22 

 than that ruling the previous two years. The following 

 rough balance sheet shows how I arrive at this estimate, 



viz : — 



Cost and expenses per ifioo shells. 



RS. A. p, 

 • Purchase at Tuticorin ... ... ... 121 9 9 



Freight and charges ... ... ... 10 o o 



Rail charges and warehouse rent and 



miscellaneous ... ... ... 963 



Labour — sawing into rings ; 3,000 rings 



at 1-8-0 per 100 ... ... ... 45 o o 



Commission to agents 10 per cent, on 



sales ... ... ... ... ... 45 o o 



Bad debts and interest 10 per cent. ... 45 00 



» 276 o Q 



Proceeds — 



Sale of 2,500 rings at Rs. 18 per 100 



(500 sections being rejected as bad)... 450 o o 



Net profit on 1,000 shells ... ... 174 o o 



This is equivalent to a profit of 63 per cent, upon the 

 total expenditure. 



In cases where it is the second middleman who saws 

 the shells into rings for sale to the artisans, the average 

 profit is reduced to about 50 per cent, owing to the 

 higher rate he pays for the shells — he has to pay from 

 Rs. 150 to Rs. 170 per 1,000 for his shells ; on the other 

 hand, he saves on the items of freight and charges which 



