NEW TRAWLER PURCHASED

Taranaki Daily News, 23 June 1927, Page 14

NEW TRAWLER PURCHASED

SANDEORD, LTD.’S REPORT. By Telegraph.—Press Associarloj Auckland, June 21. A North Sea steam trawler, the Thomas Bryan, has been purchased by Sanford, Ltd., fish merchants of Auckland, to add to their fleet of fishing vessels. The Thomas Bryan, which is of 300 tons, was built -at Aberdeer in 1918. It is expected to arrive at .Auckland in August. The annual report of Sanford, Ltd. States that after providing for depreciation the net profits for the year amounted to £11,377. An interim dividend of 34 per cent, was paid last December, and the directors propose paying a further dividend of 34 per cent, and to place £2OOO to income tax reserve, leaving £1334 to carry forward. The report states that conditions during the season were not as favourable as 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 months when supplies were usually plentiful. Working costs had also been higher owing to increases in wages to shed hands and the crews of the trawlers, as the company’s trawlers had to go further afield. The directors, in order to ensure ample supplies in the future, decided to purchase the new trawler. This involved a considerable capital outlay, but the directors were satisfied the results would fully justify the purchase.