/ · 1894 Brewer’s · H · Hake
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We lose in hake, but gain in herring. Lose one way, but gain in another. Herrings are persecuted by the hakes, which are therefore driven away from a herring fishery.
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Entry taken from Dictionary of Phrase and Fable, edited by the Rev. E. Cobham Brewer, LL.D. and revised in 1895.