Ledgers like this were kept by the W.C. Smith & Co.for their fishing schooners, often from the time she was built or purchased, with the names of shareholders, until she was sold or lost. This one for the Margaret K. Smith also includes the 1922 racing account and a rum-running trip in 1925, minutes of meetings of the vessel's shareholders, her accounts with local merchants, the revenue brought in from fishing trips to the Grand Banks, and the sale of the vessel, (90 pp.).
Reference: National Sea Products Nova Scotia Archives MG 3 vol. 751e
Nova Scotia Archives — https://archives.novascotia.ca/schooners/archives/
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