PROFITABLE INDUSTRY

Poverty Bay Herald, Volume LIII, Issue 16373, 22 June 1927, Page 3

PROFITABLE INDUSTRY

FISHING IN AUCKLAND . NEW TRAWLER BOUGHT . (Per Press Association.) AUCKLAND, last night. The North Sea steam trawler Thomas Bryan, has been purchased by Hunford, Ltd., fish merchants, Auckland, to add to their fleet of fishing vessels. The Thomas Bryan, which is of 300 tons,"was built at Aberdeen iu 1918. It is expected lo arrive at Auckland in August. The annual report of Sanford, Ltd., states that after providing for depreciation, the net profit for the year amounted to £11,577. An interim dividend of 3A per cent, was paid last December, and the directors propose paying a further dividend of 3J per cent., and to place £2OOO to the income tux reserve, leaving £1334 to carry forward. The report further states that the conditions during the season Were not as favorable as was anticipated. During the "school fish " season (November to January), the Government imposed further restrictions on trawling and seine fishing, with the result that there was a shortage of fish during the mouths when supplies were usually plentiful. Working costs had also been higher owing to increases in wages to shed hands and to crews of trawlers. As the company's trawlers had to go further afield,, the directors, in order to ensure ample supplies in future, decided to purchase the new trawler. This involved considerable capital outlay, but tho directors were satisfied the results would fully justify the purchase.