WHALING INDUSTRY

Dominion, Volume 30, Issue 264, 4 August 1937, Page 12

WHALING INDUSTRY

An International Agreement Representatives of nine Governments have signed an agreement to provide for a nine months’ close season for whaling and to protect whale calves, female whales and whales below a certain size.. There has been a remarkable increase in the production of whale oil in the last: ten years from 1,152,536 barrels in 192a--26 to 2,412,583 barrels in 1935-36; and the consumption in the principal importing countries has risen correspondingly to an average over the past four years of 490,000 tons. U.K. consumption has risen in ten years from 58,809 tons to 161 500 tons, and German consumption from 53,442 tons to 159,020 tons. This advance in production has been largely regulated; indiscriminate fishing has endangered the future of the whale population ; and there have been seasons of excessive production, notably 1930-31, wjlich have occasioned a stagnant market at low prices for considerable periods. Temporarily, the world demand seems to have been stabilised at about 500.000 tons a year, apart from the chance of unexpected demand from' the U.S.A. There are no unsold supplies of whale oil belonging to previous seasons, and the unsold balance of the 1936-37 catch will find a ready market at remunerative prices, about £23 per ton—against an average of £32 prior to 1927, when catches were much smaller than now and an average of about £l2 in 1932 to 1934, when over-production had spoiled the market. Consequently, the time was ripe for an international agreement to nrotect the future of the whaling industry and to steady prices. The draft London agreement not only provides for a close season of nine months, which endorses the Anglo-Nor-wegian agreement arrived at last autumn after considerable dispute, but also atteinpts to mitigate the cruelty of the industry by providing for humaner killing. It has been signed by Great Britain, South Africa, the United States, Germany, Argentina, Australia, the Irish Free State, New Zealand and Norway, and the signatures of Canada and Portugal are expected. The close season and the preservation of female and immature whales may save whaling as a commercial business. But Japan remains outside the agreement, and especially when more and more countries are pressing into the business, it is all important that agreement should be comprehensive. This particular agreement may be criticised for not including numerical restrictions on . the killing of whales, says the ‘‘Economist,” but if it is accepted and observed by all parties It will save and stabilise an important industry. Cascade Brewery Dividend The directors of Cascade Brewery Co., Ltd., of Hobart, have declared a finql dividend of 5} per cent., together with a bonus of 3d. a share (1£ per cent.), making a total of ill per cent, for the year ended June 30. The dividend is payable on August 20, and transfer books close oq August 6. In 1935-36 the company paid 10 per cent, (interim 4 per cent, finaj 6 per cent.), and in the previous year 8 per cent