The management of the pearl fisheries of the Colombia of to-day is in the hands of the central bank of Colombia which is empowered to transact business pertaining to property belonging to the government. This institution holds a public auction and awards the lease of the rights to fish for pearls, coral, etc., on the Colombian coasts of the Atlantic and Pacific oceans, to the most desirable bidder. The lessee must be governed by the rules and regulations laid down by the bank. The lease is for five years and went into effect August 1st, 1906. New pearl oyster-beds were discovered in 1903 in the Gulf of Campèche near Coatzacoalcos and application was made by a Mexican to the Mexican government for a concession to work them. There are extensive beds, which are constantly fished, along the eastern coast of Lower California from its junction with the United States to Cape San Lucas. La Paz is the principal centre of the fisheries. An English syndicate has a concession from the Mexican government which was lately renewed, for fishing about La Paz. Pearls worth $350,000, among them many fine black pearls, and five thousand tons of shells valued at $1,250,000, were taken in 1904. This syndicate employs all the modern appliances. Beds are known and worked from La Paz to and about the island of Loreto on the east coast, and at the island of Tiburon over on the East side of the gulf, and from Mazatlan all along the coast of Mexico proper to the boundary line of Guatemala. These beds were discovered by Cortez in 1536 and were worked spasmodically for two centuries; then for a period they were fished so constantly and thoroughly that the market was over-loaded with pearls and the supply of oysters seriously diminished. Of late years fishing has been again carried on systematically and with sufficient judgment to prevent the immediate destruction of the beds as before. A pearl oyster-bed ten miles long has lately been located at the Punta de Santa Cristoval. The Mexican season for fishing varies in localities from May to November, or June to December. The day's work of the diver commences at near the ebb tide and ends shortly after the beginning of the flood tide, about three hours in all. Much fishing is done by independent naked native divers, in a manner similar to that of the Hindus and Arabs, but some of the large concessionaires supply their divers with helmets and other modern appliances. Schooners of various sizes having several boats, carry the fishing parties to the banks and the men live on them through the entire season. The daily catches are delivered to an armed boat which carries the oysters ashore, where they are at once searched for pearls. These when found are immediately sorted and valued, a percentage going to the diver in addition to his wages, if he is a regular employee of the Company.