expenditures were generally associated with 

 decreasing receipts and falling gear, re- 

 pair, and maintenance expenditures. This 

 was particularly evident from the contrast- 

 ing behavior of insurance expenditures of 

 the more and Isss successful Boston trawl- 

 ers, 200 gross-tons and larger. Insurance 

 expenditures were not increasing on the 

 more successful trawlers . 



There was also a higher degree of 

 association betvreen receipts and gear, re- 

 pair, and maintenance expenditures within 

 any given year: high receipts meant high 

 expenditures. The level of receipts in a 

 particular year affects not only the pres- 

 ent profitability of travjlers but may also 

 affect their future profitability. 



7U 



