The Martha’s Vineyard Striped Bass and Bluefish Derby is a folksy event that has also become a mature, sophisticated enterprise generating more than $2 million, perhaps as much as $3 million annually in shoulder season revenue for Island businesses.

“That’s why the derby was started. There was no shoulder season when the derby began as a chamber of commerce event,” derby president Ed Jerome said this week at the Wednesday morning weigh-in.

One is a magic number as the 62nd annual derby enters its final day of an event with big numbers, bountiful fishing and a short ride through controversy.

Roy Langley, weigh master for the Martha’s Vineyard Striped Bass and Bluefish Derby, will ring a cowbell at 8 a.m. sharp Sunday morning.

Once that cowbell rings, at the entrance to the official derby headquarters at the foot of Main street in Edgartown, the Vineyard will become an entirely different place.

From that moment on, derby participants can bring in their fish to be weighed in the month-long contest that galvanizes the Island every year.

Opening day at the 2007 Martha’s Vineyard Striped Bass and Bluefish Derby was a smash, including the recording of a first day grand slam by Capt. Tom Langman of Menemsha, likely a first day record. Derby president Ed Jerome said of the slam: “We don’t keep records for that but I don’t ever remember it happening on the first day. Certainly we’ve had one-day grand slams before but they are rare.”

With the 62nd annual Martha’s Vineyard Striped Bass and Bluefish Derby now at full speed, two events are running along on the side.

One is for youngsters. The other is a kayak fishing contest. Both start on Sunday.

While plenty of big fish were caught by grown adults in this first week of the derby, attention shifts Sunday morning to the youngest of anglers. Soon after sunrise, as many as 200 young children will gather for the Mini Kids’ Day Derby at the Steamship Authority wharf in Oak Bluffs.

Eight-year-old Donald O’Shaughnessy of Edgartown won the 26th annual Kids’ Mini Derby on Sunday. Mr. O’Shaughnessy caught a 14 3/8 inch scup, the largest fish of the contest. It was the first time an angler had won the morning contest with a scup. The youngster caught his fish at about 7 a.m., at a time when most Island youngsters were at home asleep.

The boy was aglow at the 8:30 a.m. awards ceremony at the Oak Bluffs Steamship Authority wharf. He also received a plaque of a good looking mounted scup, made by Janet Messineo of Island Taxidermy.

With well over 2,000 fishermen competing in the 62nd annual Martha’s Vineyard Striped Bass and Bluefish Derby, the contest is now on the home stretch.

More than 13,000 pounds of striped bass, bluefish, bonito and false albacore have been weighed in at the derby headquarters so far.

Last weekend the evidence of interest could be seen along Vineyard shores, all populated by anglers with gear. The flat waters from Chappaquiddick to Aquinnah were crisscrossed with boiling waves from fast boats, driven by intent anglers.

One of the top striped bass caught in the Martha’s Vineyard Striped Bass and Bluefish Derby this past week had a rough journey off and back onto the derby leader board.

On Sunday evening, Lev Wlodyka, 28, of Chilmark weighed in a 57.56 pound striped bass.

But the fish, it turns out, had ingested 1.68 pounds of lead prior to being caught.

This was a big surprise to Mr. Wlodyka, not to mention to derby officials. They quickly disqualified the fish. The decision upset Mr. Wlodyka, for he had caught the fish using a hooked eel.

New Hampshire advertising agency executive David Flood has produced a documentary on Vineyard life and the Martha’s Vineyard Striped Bass and Bluefish Derby.

The hour-long color film, Feeding the Water, will premiere today at 7 p.m. on MVTV and will run on the station through the remainder of the derby. Mr. Flood filmed for five weeks during the 2006 derby.

Show Up, Winners

Martha Smith, major domo of the derby weigh-in stations, has issued a call to winners to show up at the weigh-in. “We need to remind daily and weekly winners to come in and pick up their prizes,” she said, noting that prizes are available immediately at the end of competition each week.