The Daily Alaska empire., 1928-04-20
Purse-Seiners Create New Factor in Fish
 Industry.
Seattle Business chronicle.)

Purchase of Puget sound salmon canning plant of Everett Packing Co. by upward of 50 owners and captains of purse-seine fishing boats as cooperative enterprise in corporate form, has economic significance in relation to the trend of today in America for the producers to take the assembling manufacturing fune- tion and to combine it with marketing and dis tribution-eontrol of product from material to consumer through ownership acquired by pool ed investment of their individual savings or eapi- tai accumations.
 The same tendency, in general way is mo- ticeable in employee customer ownership of pub lie utilities, that has made such strides in the past four years. Something of the same nature is beginning in banking, with chain banks centered in a holding company owned largely by depositors and employees. The purely cooperative voluntary association has had it's fullest expression in the agricultural industry; conspicuousy successful Pacific Northwest examples being eggs, fruits and berries, and dairy products. On Columbia River a cooperative salmon cannery has been a demonstrated commercial success a period of years, but the Puget Sound undertaking is planned vast a scale to challenge the attention of economists well of the fishing industry of the entire world.
 Here is the set-up of this newest development in of Pacific Northwests major industries Corporate title is Fishermens Packing Corpora tion, which, to start with, will have daily capacity of 6,00O at the Everett plant be- ing acquired this week. By additions to equip ment and facilities this is to be increased to a
 
 an aggregate sales value at cannery approximat- ing $1500, 900. Then, as fast practicable as deemed desirable, all purse-sene interests in American waters of North Coast are to be ad- mitted to partner-ownership in Fshermen's Pack ing Corporation, other established canneries be- ing bought needed to pack the salmon catch taken by purse-seine boats These boats cost, with equipment, from $12.000 to $220O0 each. For the present. ownership of boats and gear will remain in individual hands, later Fisher mems Packing Corporation may take them over by purchase; entire fleet has a replacement value variously estimated at from $800,OOO to $1, ,0O0,0 000
 Stabization of purse-seining division of fish ing industry is the objective, this is to be ac- eomplished by providing a dependable cannery market under ownership control of fishermen themselves for all fish they may take, thus elim- mating the gambling chance" of a strenuous occupation heretofore hazardous financially as well otherwise.
 The sunken reef which so many coopera- tive enterprises have been wrecked is untred management and policies more visionary than practical. But these fishermen are skillful mar iners. First they buy outright an old established business completely equipped as to plant; ac- qure it's brands and labels known in world markets; and take its sales organization complete, both domestic and foreign. Then they retain their general manager the man who had created and built up the business, and officer their corporation with those of their own num- Der who by reason of actual experience are qualified to be called commercial fishermen"