With these qualifications, points of significance are that:—

• (1) Red cod easily heads the list for the number of species eaten.

• (2) The Elasmobranchs, of no commercial value at present, figure prominently among the predatory fish.

• (3) The flatfish, on the contrary, rely on other sources of food.

• (4) The larger abundant species, including several shoal fishes, make free use of this food supply, as, indeed, from their numbers they are compelled to do. The chief ones are spined dogfish, red cod, groper, kahawai, blue cod, barracouta, ling and red gurnard.

• (5) On the other hand, certain other fishes, some of them even more abundant, smaller in size, depend rather on plankton and other invertebrate sources of food. In this group come the pilchard, sprat, minnow, silverside, smelt, ahuru, threepenny and cockabully.

The last series deserves special attention, because these superabundant fish, depending on numbers and exuberant fertility rather than size and individual self-protection, are the main sources of food for the fish-eaters. The most important is the pilchard, known from 19 of the 47 fish-eating species; of these, four are ground fish, three others frequent rocky localities, and the rest are rovers. Next in order is the ahuru; it is surprising that such an abundant fish, detected in numbers in red cod stomachs within three days of the commencement of the investigation, had not hitherto been known from Otago waters; it is now known to be eaten by at least 17 species, including six species of ground fish and three of rock fish (whence it is evidently not restricted to the bottom), and must be recognised as a major source of food for fish-eaters, second in importance only to the pilchard. Sprats were found in (if cannibalism can be included in the count) the stomachs of 16 species, and red cod may claim the same distinction; both species inhabit all depths. The cockabully, known from nine species, illustrates the point that the number of species is an imperfect guide to importance in the food cycles, for this fish does not bulk largely in the stomach contents. Other fishes eaten by a number of predators include sea perch (nine species, including cannibalism), mullet, opalfish, seahorse (each seven species), short-snouted pipefish, common sole (six), long-snouted pipefish, sand flounder, lemon sole, pigfish (five), blue cod, barracouta (four). Altogether the lists include 47 predatory species and 48 food-species. More prolonged observations would undoubtedly increase these figures, and meanwhile it would be premature to attempt too close an analysis of the data. Mustelus antarcticus (smooth-hound) needs special mention in that though strong, active, swift, and roving by nature, it does not deserve its bad reputation. The vernacular name, and association with shoals of small fish, have led to the belief that it devours fish in large quantities, but an examination of at least 400 stomachs gave evidence of fish-eating on three occasions only; two specimens from Blueskin Bay had 23 and 19 sprats respectively, and one from Quarry Point had eaten two specimens of Kathetostoma.