ENG-1947 — Page 64

buyers are allowed 48 hours credit and buyers who are not registered may bid at the auction provided that they first pay a deposit. The fisherman is paid the whole amount bid for his fish immediately after the auction, less a percentage commission which is deducted to cover the running expenses of the market organisation. These expenses include the collection of the fish, transport to the market, handling and auctioning of fish at the market, and transport to the buyers' place of business. A reserve fund created from this commission enabled the organisa- tion to build a small market and premises at Taipo and to purchase a fleet of 12 lorries.

Although the arrangements which have been described above permitted the fisherman to obtain a good price for his fish and to avoid recourse to the middleman, they did not include any arrangement to replace the laan as a source of capital for the fisherman during hard times. This state of. affairs was soon remedied, and in 1946 the Government lent $250,000 to the Marketing Scheme for the purpose of financing loans to fishermen for the purpose of repairing boats and gear during the off-season. A further loan of H.K.$20,000 was made in the autumn of 1947, to enable the Yellow Croaker fishermen at Tai O, who had experienced a very poor season, to prepare for the new season which was due to start in October. The total loan is used as a revolving fund, H.K.$524,160 having so far been lent and H.K.$273,589 repaid. A small rate interest is charged on the loans and repayment is made gradually by means of an increased percentage commission on the sale of fish. To encourage fishermen to save money, a scheme is also in operation whereby "returnable commission" of 2% is deducted from sales of all fish and banked in the name of the fisherman. These deposits are returned together with 2% interest twice yearly at the seasons when fishermen are most in need of money, namely, during the slack season and just before Chinese New Year. The scope of the scheme was further extended during the summer of 1947, by the addition of a clause in the agreement with those fishermen who borrow money from the fisheries, that during their eight months season they shall save an additional 3%.

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There still exist middlemen in the fishing community, usually known as "small laans" which organise the collection of fish from the fishermen and sell it on their behalf in the Wholesale Market. They also undertake any necessary pro- cessing such as salting and drying which is required before the fish can be placed on the market. For these services they charge a small percentage commission, usually about 3%. In some cases the charge is reasonable, and the dealer honest, and in these cases, a useful service to the fishermen is performed by them. But this is not so in all instances and many fishermen have begun to realise that in the new system which has been adopted there is no need for the old type of fish collecting unit. They are therefore forming, among themselves, small co-opera- tive associations to replace these middlemen, and already each main fishing village has at least one of these units.

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