Page:South - the story of Shackleton's last expedition, 1914-1917.djvu/484

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whaling methods were introduced into sub-Antarctic seas in 1904, and operations commenced in the following year at South Georgia. So successful was the initial venture that several companies were floated, and the fishing area was extended to the South Shetlands, the South Orkneys, and as far as 67° S. along the western coast of Graham Land. This area lies within the Dependencies of the Falkland Islands, and is under the control of the British Government, and its geographical position offers exceptional opportunities for the successful prosecution of the industry by providing a sufficient number of safe anchorages and widely separated islands, where shore stations have been established. The Dependencies of the Falkland Islands lie roughly within latitude 50° and 65° S. and longitude 25° and 70° W., and include the Falkland Islands, South Georgia, South Sandwich, South Orkney, and South Shetland Islands, and part of Graham Land.

The industry is prosperous, and the products always find a ready market. In this sub-Antarctic area alone, the resulting products more than doubled the world's supply. The total value of the Falkland Island Dependencies in 1913 amounted to £1,252,432, in 1914 to £1,300,978, in 1915 to £1,333,401, and in 1916 to £1,774,570. This has resulted chiefly from the marketing of whale oil and the by-product, guano, and represents for each total a season's capture of several thousand whales. In 1916, the number of whales captured in this area was 11,860, which included 6000 for South Georgia alone. Whale oil, which is now the product of most economic value in the whaling industry, is produced in four grades (some companies adding a fifth). These are Nos. 0, I, II, III, IV, which in 1913 sold at £24, £22, £20, and £18 respectively per ton, net weight, barrels included (there are six barrels to a ton). The 1919 prices have increased to £72 10s. per ton (barrels included) less 2½ per cent. £68 per ton (barrels included) less 2½ per cent. £65 "  "       "       "        "   "    " £63  "  "       "       "        "   "    " Whale oil can be readily transformed into glycerine: it is used in the manufacture of soap, and quite recently, both in this country