of the Fishery Board for Scotland. 



xvii 



The Share System in Scottish Fishing Vessels. 



In connection with the statistics relating to " Means of Capture," 

 it may here be interesting to give an account of how the different 

 classes of boats are acquired by fishermen, and how the earnings are 

 divided among the crews. 



The great majority of steam drifters and liners and sailing boats 

 engaged in the Scottish fishing industry are owned by fishermen. 

 Nearly all the steam trawlers are owned by companies, but in recent 

 years trawl skippers have built or purchased trawlers, and this 

 tendency is increasing. 



Vessels are acquired by the fishermen in various ways. In some 

 places (especially the Fifeshire fishing villages) the skipper alone, or 

 the skipper with members of his family, and in a few cases several 

 fishermen who may or may not be related, become partners in the 

 purchase of a vessel. In some instances they have managed to save 

 sufficient money to buy a drifter outright, but in the majority of 

 cases their savings fall short of the necessary sum. In the latter 

 event they approach large firms of fish salesmen, who sell their fish 

 for them, or general merchants, with whom they are in the habit of 

 dealing, to become cautioners to the bank for the amount required on 

 a " bank cash credit." The banks entertain this class of business 

 provided the applicants are successful and reliable fishermen, and that 

 the sureties are men of substance and good character. Should the 

 cautioner be a fish salesman, he would naturally expect to get the 

 sale of the fish landed at certain ports, while in the case of a 

 merchant he would expect to get the borrower's custom in nets, coal, 

 oil, groceries, and other stores. 



The cash credit is worked in the same way as an overdrawn current 

 account, all the boat's receipts being paid in, and the interest is 

 charged on the day to day balances. At the end of the fishing the 

 merchants are paid for all nets, stores, etc., and the surplus is divided 

 into three shares — one-third being credited to the boat, one-third to 

 the nets, and one-third divided among the crew. Each member of the 

 crew has so many nets, and the " nets " share is divided in proportion 

 to the number owned, while the boat's share is devoted to the 

 reduction of the sum borrowed from the bank. 



The interest charged varies according to the rate fixed by the banks, 

 but it is always \ per cent, less than that charged for ordinary over- 

 drafts. The average cash account rate in 1911 was £5 4s. 8d. per cent. 



If it is necessary to employ men other than "share men " on board, 

 they are simply engaged at a weekly wage like the engineer and 

 stoker and cook. 



In the Moray Firth the mode of borrowing the necessary money is 

 somewhat different. There the fishermen frequently purchase vessels 

 themselves from their savings, and from money borrowed on the 

 mortgage of their houses. In other cases one-third of the purchase 

 price is advanced by the banks on a first mortgage, and (according to 

 the fishermen's requirements) part is obtained from fish salesmen, or 

 the boat-builders allow part of the purchase price to remain on second 

 mortgage. A current account is opened with the banks, as in Fife. 

 The boats are managed by the fishermen, and none of the other 

 partners has a say in their control. 

 b 



