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THE PEARL
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improvement
of the fishery not less than $16,666, or more than $50,000, at the
discretion of the government. The expenses of supervision and
protection by the government must also be borne by the company.
As
a result of the first fishery (1906), the company after setting aside
$49,628 for depreciations and reserve and carrying forward $77,382,
show a profit of $256,960'which affords dividends of 36 cents on
ordinary shares and 18 cents on deferred shares, a remarkably good
beginning. The government revenue from the fishery of 1905 was $801,882
after the expenses, $73,510 were deducted; over $111,000 more than the
profit of 1904 which was the most successful up to that time.
The
inspector of pearl-banks anticipated a good fishery in 1906 but was of
the opinion that after a small fishery in 1907 and probably 1908 the
banks would fail for some years as they have done in the past.
After
the pearls are taken from the dead oysters they are first sorted for
size. This is done by passing them through a series of ten small brass
sieves known as baskets, containing
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