FISH ECONOMICS 251 



contain elements of commercial value."* The "dressings" 

 at fish markets and fishing centres, the refuse of canneries, 

 dried-fish, smoked-fish and "boneless-fish" factories and 

 even the carcases of whales are turned to account in the 

 production of (i) oil and (2) fertilizing compounds for 

 agricultural purposes. 



The most valuable substance obtained from fish refuse, 

 is oil. This is obtained of many kinds and in many quali- 

 ties. The most familiar and certainly the most impor- 

 tant is undoubtedly that obtained from the liver of the 

 Codfish (Gadus morrhud) known as "Cod-liver Oil," and 

 which is of very great medicinal value. Though a very large 

 quantity of the oil is produced solely for medicinal pur- 

 poses, by far the greatest proportion is converted into 

 "curriers' oil," while a certain amount is used in the manu- 

 facture of soaps. As showing the great value of this pro- 

 duct, it may be mentioned that in Newfoundland alone the 

 total annual output is about 1,100,000 gallons, while that of 

 the world is about 3,525,000 gallons ; about one-fifth of this 

 being made use of for medicinal purposes. 



Not the least important amongst fish-oils are those 

 obtained from the livers of various kinds of Sharks and 

 Rays principally the former. In many of the species the 

 liver is so large and contains so much oil, that a special 

 fishery is profitably engaged in for their capture. The 

 amount of oil obtained from individual Sharks, varies from 

 about i pint (in the small Sharks known as "Dog-Fishes") 

 up to as much as 400 gallons', the last-mentioned quantity 

 being obtained occasionally from livers of the great Basking 

 Shark, which attains a length of about 40 feet and which 

 is known to occur at times on the coast of New South 

 Wales and Victoria, though not abundantly. As this fish 

 is a denizen of our waters, it will be of interest to give a 

 few particulars regarding its capture on the coast of Peru, 

 where it is fairly common. 



Though it is such a large species, not being one of the 

 predaceous kinds, there is no possibility of capturing it by 

 means of a baited hook; consequently, it is necessary for 



* Stevenson, Charles : "Aquatic Products in Arts and Industries." 

 Rep. U.S.F.C. for 1902 (1904). 



