t4 MADRAS FISHERIES BULLETIN' VOL. XIV 



value of new vessels and two-thirds that of older vessels ; not more 

 than Kr. 15,000 was advanced on any one keel. The fund also pro- 

 vided loans ui) to two-thirds of the value for the purchase of new 

 vessels of large types, suitable for fishing, these loans being covered 

 by communal or other similar guarantees. Loans were also granted 

 for the erection of works for preparing and curing fish ; these loans 

 were similarly guaranteed. A second loan fund called The New 

 Sea-Fisheries Fund w us established in 1900 ; the amount originally 

 voted was Kr. 500,000, subsequently increased to Kr. 900,000 and 

 then reduced to Kr. 250,000. The object was to provide for loans 

 for purchasing and fitting out steamers for sea-fisheries. Interest 

 was charged at the rate of 4 per cent per annum and loans were 

 re-payable during the course of ten years. Security was given in 

 mortgages on the vessels and gear and in insurance policies. The 

 extent of each loan did not exceed 50 per cent of the vessel's value 

 and no loans were granted on vessels more than 5 years old. 



The Fin/narks Fund was established in 1905 with a third alloca- 

 tion, originally Kr. 200,000, gradually increased to Kr. 500,000. 

 This was a special fund for assisting fishermen in Finmarken who 

 were, however, also entitled to loans from the other funds. Condi- 

 tions for loans were practically the same as in the case of The Old 

 Fisheries Fund, only the rate of interest was 2^ per cent and the 

 maximum amount advanced on each boat was Kr. 3,000 and on 

 motor-boats Kr. 4,000. 



At the close of 1915 the sums advanced by these three funds 

 were as follows : — 



KR. 



74 loans on steamers ... ... ... ... 1,290,600 



10 do. curing establishments, etc. ... ... 128,000 



1,341 do. other vessels and motor iioats ... 3,5ii»993 



Total ... Kr. 4.930.593 



In January 1919 the Ministry of Commerce introduced a bill for 

 the establishment of a Norwegian Government Fisheries Bank ; 

 when introducing this bill the Minister stated that the sums 

 which were available from the above mentioned three funds 

 had become entirely inadequate in view of the very considerable 

 increase of capital used in the Norwegian fishing industry and that 

 it was also necessary to provide money to assist fishermen in effect- 



