2884 AWARD OP THE FISHERY COMMISSION. 



those that fish on our shore ? A. The latter generally are the least 

 expense. 



Q. I suppose that a seiner is more expensive than a hook and line 

 vessel ? A. The gear of it is ; the gear is what costs most not the 

 vessel. 



Q. What costs the most, the manning of a seiner or of a hook and 

 line vessel ? A. The seiner costs the most, owing to the value of the 

 seine. 



Q. Does the extra cost of the seine used on the shore make up for the 

 extra cost of the bait used in the gulf? A. The seine costs the most not 

 the bait; but taking the trips on the average, going to the gulf costs 

 the most. 



Q. Can an average vessel be run so that a person buying a share in 

 her will get interest on his capital considering this matter for a num- 

 ber of years 1 A. Do you mean taking such a share haphazard, or any 

 way I 



Q. Not haphazard ; but take an outside owner who buys an interest 

 in a vessel ; can he make money by buying such property? A. You 

 cannot get outside owners to buy such shares now. 



Q. Why ? A. Because they have most always lost what they have 

 put in. 



Q. How has the business of companies which have gone into the fish- 

 ing business prospered ? I do not refer to Gloucester fishing firms ; but 

 how have corporations, which have gone into the fishing business, suc- 

 ceeded ? A. They have been unsuccessful. 



Q. You gave me an illustration of one ? A. That was in Salem ; I 

 think they called it the Chiucoteague Fishing Company. This was an 

 institution got up to assist people to go into the fishing business in Sa- 

 lem by Gloucester people who moved up there. 



Q. In hopes of restoring the fishing business of Salem ? A. They 

 wished to build the place up, and they represented that by carrying out 

 their scheme, money would become plentiful in their streets, the retail 

 stores would flourish, &c. ; but they failed completely in their under- 

 taking. 



Q. Gloucester people up there started a corporation in connection 

 with the fishing business ? A. Yes. 



Q. What became of it? A. I think they subscribed, and put' in 

 $30,000 and bought parts in several fishing-vessels that is, the firm 

 that went into the affair bought the vessels, and the outside owners put 

 in $30,000, and took parts in some five or six or eight different vessels. 

 I think that when they divided up they got back about 25 per cent, of 

 what they had put in, without deducting interest or taxes or anything 

 else. 



Q. On the winding up of the business? A. Yes. 



Q. Did they have intelligent and decent people to carry on the busi- 

 ness ? A. They were successful in Gloucester, and were men who car- 

 ried with them when they went up there $15,000 or $20,000 or $25,000 

 cash capital, or capital so represented in vessels and material. 



Q. How are your Gloucester vessels, which are run by fishing firms, 

 owned? A. Firms as such cannot own them, save as individual part- 

 ners. 



Q. The registration has to be made in the names of the individual 

 members of the firm ? A. Yes. 



Q. Do the skippers usually have an interest in the vessels? A. Not 

 as a rule, but a great many of our skippers own shares in our vessels. 



Q. Do you keep a separate profit and loss account for the vessel to 



