110 ABOUT LOBSTERS 



the moult by several weeks by which time they com- 

 mand a premium over the newly-shed lobsters that are 

 being caught. After the hard-shelled lobsters have been 

 removed, the softer, newly-moulted lobsters from the 

 landings are released in the pound. These lobsters 

 harden as the summer progresses, and withstand the 

 rigors of shipment better. During the summer, a pound 

 may be almost continuously stocked and emptied, de- 

 pending upon sales, landings, and condition of the 

 lobsters. 



In anticipation of the high prices prevailing in mid- 

 winter when landings fall to a very low point, lobster 

 pounds are stocked to capacity in late summer or early 

 fall when the combination of peak landings and dwin- 

 dling markets result in the lowest prices of the year. Oc- 

 casionally, a lapse in production results in a short pe- 

 riod of high prices in late fall, at which time some 

 pounds may be emptied to be refilled when the price 

 drops again. Generally such a sharp fluctuation is 

 caused by a stormy period which prevents fishing. 1 



It is obvious that a pound owner who can buy lobsters 

 at a low price and hold them until the price is high will 

 make a good deal of money. 



But there are handicaps to an easy profit. In the first 

 place, pounds are expensive to build. They cost $2,500 and 

 up. Then the capital tied up in stocking a pound is consider- 

 able ( perhaps 30,000 pounds at 70 cents per pound ) . 



And will the market rise to a price higher than the cost? 



But the greatest gamble depends on the mortality of the 

 captive lobsters. 



A loss of only 3 per cent is claimed by some pound 

 owners, but this is unusual, and 10 to 15 per cent loss is 

 about normal. Unfortunately, losses can run above 30 per 

 cent, and sometimes the entire contents of the pound are 

 lost. These heavy losses seem to run in epidemics. 



1 From Robert L. Dow, Donald M. Harriman, and Leslie W. Scattergood, 

 " The Role of Holding Pounds in the Maine Lobster Industry " (Fish and 

 Wildlife Service Bulletin No. 5), which has been used in preparation of 

 this section. 



