Ixiv 



Fourth Annual Report oj the 



Fishing Company (Limited), Granton, so as bo be in a position to 

 commence line fishing in these waters, ordered two steam line 

 fishing boats to be built, one of which has been delivered, and the 

 other is expected shortly. 



Eegistration of Fishing Boats as Secueity for Loans. 



Increase in A matter to which the Board's attention has been called by 

 of Boats ^^^^ correspondents and facts emerging in the course of the superintend- 

 ence of the fisheries by the Board's cruisers, is the impossibility at 

 present of the fishermen being able to raise loans on their boats. In 

 the Board's First lleport for 1882 (p. xvi), reference was made to 

 the revolution in the building of herring fishing boats, and the 

 increased value of the sums then invested. While the value in 

 1862 was estimated at £272,960, in 1882 it had increased to 

 £646,883. As regards the cod and ling fisheries the same Report 

 (p. xxxiv), with reference to Shetland, mentions that * the six oared 

 ' open boats which were formerly so much in use, are gradually 

 ' being superseded by large decked boats,' which involves the 

 investment of much more capital in boats. Again, in that Eeport 

 (p. xxxix), the cost of the first-class boats employed in the fisheries 

 was mentioned as having increased from £220 to £300 each. 



The Board's Second Report for 1883 again alludes to this increase 

 (p. liv), and states ' that this very large increase is chiefly due to 

 ' the additional capital invested in the large class of fishing boat3, 



* and beam trawl vessels, which are now being so extensively used 

 ' with their more expensive equipment and fishing material,' and 

 again (p. Ivi), that Report states that ' large sized decked boats are in 



* great demand. Those built this year measure from 44 to 56 feet 



* keel, but some recent orders have been given for boats of even a 



* larger size.' 



The Board's Third Annual Report, being that for 1884 (p. xlii), 

 shows a still further increase in the capital employed by the 

 fishermen in boats, nets, and lines, the total being upwards of 

 £1,800,000, and the cause is again attributed * to the additional 



* capital invested in the large class of fishing boats and beam 



* trawl vessels,' &c. 



, Under the title * Boat Building ' (p. xliii) it is there stated ' that 



* owing to the continued development of the Scottish fisheries, boat 



* builders receive a considerable number of orders for new boats during 

 ' the year, and as the fishing is now mainly prosecuted at a much 

 ' greater distance from land than formerly, those chiefly in demand 

 ' are of a large size. The fishing boats in 1884 measured from 44 

 ' to 60 feet keel.' 



Deposit of The most common way in which the fishermen attempt to 

 Loanw?rthiess. overcome the difficulty of raising money to prosecute their 

 * calling is by depositing their boats' certificates with a bank or 

 other lender to them. Not only is this worthless as a legal security, 

 but the absence of the certificate also renders the boat liable to seizure 

 by the cruisers, and by such seizure the boat is prevented fishing 

 until production of the certificate. Under international obliga- 

 tions it is impossible for the cruisers to allow the absence of the 

 certificate from the boat to pass unnoticed. 



