Design of Marine Protected Areas on high seas and territorial waters of Rockall Bank

Fisheries closures are rapidly being developed to protect vulnerable marine ecosystems worldwide. Satellite monitoring of fishing vessel activity indicates that these closures can work effectively with good compliance by international fleets even in remote areas. Here we summarise how remote fisheries closures were designed to protect Lophelia pertusa habitat in a region of the NE Atlantic that straddles the EU fishing zone and the high seas. We show how scientific records, fishers' knowledge and surveillance data on fishing activity can be combined to provide a powerful tool for the design of Marine Protected Areas.

Bioaccumulation Trends of Ten Metals in a Pelagic Food Web of Lake Champlain

Many metals have serious toxic effects when ingested by aquatic organisms, and the process of bioaccumulation intensifies this problem. A better understanding of bioaccumulation trends of anthropogenically introduced metals in freshwater food webs is necessary for the development of effective management strategies to protect aquatic organisms, as well as organisms (including humans) that consume top-predator fish in these food webs. Various fish species representing different trophic levels of a pelagic food chain were sampled from Lake Champlain (VT/NY). Atomic absorption spectrometry (AAS) was used to determine levels of chromium, copper, cobalt, cadmium, lead, zinc, nickel, rubidium, cesium and potassium in the fish samples. Metal concentrations for chromium, cobalt, nickel, cesium, cadmium (<5.0 ppm) and lead (<10.0 ppm) were found to be all below detection limits. Carbon and nitrogen isotopic ratios were analyzed to determine the trophic relationship of each fish species. Stable isotope and AAS metal data were used in tandem to produce linear regressions for each metal against trophic level to assess biomagnification. Both potassium and zinc showed no biomagnification because they are homeostatically regulated essential trace metals. Copper was under the detection limits for all fish species with the exception of the sea lamprey; but showed a significant biodiminution among the invertebrates and lamprey. Rubidium, a rarely studied metal, was shown to increase with trophic level in a marginally significant linear relationship suggesting biomagnification is possible where more trophic levels are sampled.

Much Ado About Nothing: The Limitation of Liability and the Market for 19th century Irish Bank Stock

Abstract Limited liability is widely believed to be a prerequisite for the emergence of an active and liquid securities market because the transactions costs associated with trading ownership of unlimited liability firms are viewed as prohibitive. In this article, we examine the trading of shares in an Irish bank, which limited its liability in 1883. Using this bank’s archives, we assemble a time series of trading data, which we test for structural breaks. Our results suggest that the move to limited liability had a negligible impact upon the trading of this bank’s shares.

The Trading of Unlimited Liability Bank Shares in Nineteenth Century Ireland: The Bagehot Hypothesis

In the mid-1820s, banks became the first businesses in Great Britain and Ireland to be allowed to form freely on an unlimited liability joint-stock basis. Walter Bagehot warned that their shares would ultimately be owned by widows, orphans, and other impecunious individuals. Another hypothesis is that the governing bodies of these banks, constrained by special legal restrictions on share trading, acted effectively to prevent such shares being transferred to the less wealthy. We test both conjectures using the archives of an Irish joint-stock bank. The results do not support Bagehot's hypothesis.