finance the business, that season, for four per cent on the net

proceeds of the live lobster. This was agreed to by the directors. The members that year were paid thirteen cents a pound

for live lobster. The amount of lobster packed was four hundred and forty-six cases. The cases were made up of pound and half pound tins and sold for thirty to thirty four cents a tin. That first year of operation was reported, one of the toughest financially for lawyer McCarthy and his directors to deal with. Risking what little they had for the business they wondered if they would

emerge with the shirt on their back. The working together of McCarthy and his seven directors

that first year was the thread that held the business together, making it a success for generations of fishermen, who would come after them. In June of 1926 twenty-nine fishermen shareholders became part of the Charter of the Fishermen’s Union. Recorded were the following names: C.P. McCarthy, William MacLeod, Hubert Gaudet, and Joseph A. Arsenault who

were the first presidents of the Fishermen’s Union. The other shareholders were: Earl McRae, Cletus Gavin,

Charlie Gavin, James Fitzgerald, John A McRae, Romy Harper, Henry Doyle, James M Handrahan, John Dalton, Jerome Richard, George R McRae, Arthur Chaisson, James Bernard, Harold Cormier, Ferdenand Gaudet, Merill McKie, Howard Harper, William Shea, Leo | Shea, Michael McPhee, Archie Bernard, Michael Gaudet, Fred Bernard, Edward "Ned" Gavin,

James R McRae. The first annual meeting of the member fishermen

shareholders was recorded being held on November 13, 1926.