The sum of $7000 was the prize money from the 1938 International Fishermen's Races. "The plan originated by a committee of public spirited men in Lunenburg to take over the Bluenose and preserve her as a memorial had fallen through," and according to Angus Walters, "I would not see the schooner sold which so faithfully served me, the town of Lunenburg and the owners for over 18 years."
Reference: Nova Scotia Archives Halifax Herald, 15 Nov.1939, p.1
Nova Scotia Archives — https://archives.novascotia.ca/bluenose/archives/
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