1830 most Pacific seal-stocks had been seriously depleted, and Lloyd's Register of Shipping only showed one full-time sealing vessel on its books. In the North Pacific, the later 1800s saw large harvests of fur seals. These harvests decreased along with fur-seal populations. Industrial era Growing from the international Grand Banks fishery, the Newfoundland hunt initially used small schooners. Kill rates averaged 451,000 in the 1830s, and rose to 546,000 annually during the first half of the next decade, which led to a marked decline in the harp seal population that in turn adversely impacted profits in the sealing industry. Sealing reached its peak in Newfoundland in the 1860s, with the introduction of more powerful and reliable steamships that were capable of much larger range and storing capacity. Annual catches exceeded the 400,000 mark from the 1870s and smaller sealers were steadily pushed out of the market. The first modern sealing ship was the SS Bear, built in Dundee, Scotland in 1874 as a steamer for sealing. The ship was custom-built for sealing out of St. John's, Newfoundland, and was the most outstanding sealing vessel of her day and the lead ship in a new generation of sealers. Heavy-built with wooden planks, Bear was rigged as a sailing barquentine but her main power was a steam engine designed to smash deep into ice packs to reach seal herds. At the time of her arrival in St. John's, there were 300 vessels outfitted each season to hunt seals, but most were small schooners or old sailing barques. The new sealing ships represented by Bear radically transformed the Eastern North Atlantic seal fishery as they replaced the hundreds of smaller sealing vessels owned by merchants in outports around Newfoundland with large and expensive steamships owned by large British and Newfoundland companies based in St. John's. Owned at first by the Scottish firm W. Grieve and Sons, she was acquired in 1880 by R. Steele Junior. Another famous sealing ship of the era was the , originally built in 1884 for the Dundee whaling and sealing fleet. She was ideally suited to the polar regions and worked for 10 years in the annual seal fishery in the Labrador Sea. Large and expensive ships required major capital investments from British and Newfoundland firms, and shifted the industry from merchants in small outports to companies based in St. John's, Newfoundland. By the late 19th century, the