niSTOEY OF THE AMERICAN MENHADEN. 363 

 POUETH ANNUAL MEETING. 



The fourth annual meeting of this association was held at the United 

 States Hotel, New York, January 10, 1877, the president, R. L. Fowler, 

 in the chair. The minutes of the last meeting were read and accepted ; 

 the treasurer's report was read and accepted ; the committee on statis- 

 tics reported as follows : 



Number of factories in operation in 1870 G4 



Number of factories in operation in 1875 CO 



Gain „ 4 



Number of sail-vessels employed in 1876 320 



Number of sail- vessels employed in 1875 304 



Gain IG 



Number of steam-vessels employed in 187G 4G 



Number of steam-vessels employed in 1875 39 



Gain 7 



Number of men employed in 1876 2, 758 



Number of men emp'oyed in 1875 2, 633 



Gain 125 



Amount of capital invested in 1876 82, 750, 000 



Amount of capital invested in 1875 2, 650, 000 



Gain 100,000 



Number of fish caught in 187G 512, 450, 000 



Number of fish caught in 1875 563,327,000 



Loss 50, 877, 000 



Estimated by barrels in 1876 ... 1, 535, 885 



Estimated by barrels in 1875 1, 877, 767 



Loss 341, 882 



Number of gallons of oil made in 1876 2, 992, OCO 



Number of gallons of oil made in 1875 2, 681, 487 



Gain 310,513 



