ENG-1959 — Page 139

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HONG KONG ANNUAL REPORT

Federation of Pig-Raising Societies. The Federation was regis- tered in November 1954 with the purpose of improving liaison between pig-raising societies and of assisting member-societies in their contacts with Government departments.

Fishermen's Thrift Societies. The main object of these four societies is to inculcate the habit of making small savings and they may be regarded as being the foundation of co-operative effort among the fishing community. After a period of success- ful operation as Thrift Societies, individual societies may qualify for 'promotion' to the status of Thrift and Loan Societies.

Fishermen's Thrift and Loan Societies. The first of these societies_was registered in September 1952. They have proved very successful, and at the end of 1959 thirty eight societies were registered. Their main functions are to encourage thrift and to provide security for, and arrange the disbursal of, loans granted to members from the Fish Marketing Organiza- tion. In addition to thrift schemes these societies have set up revolving funds from their own resources amounting to over $210,000 for all societies. One of these societies undertakes the additional function of providing loans for construction of houses by its members.

Early in 1959, C.A.R.E. generously donated parcels of fish- ing gear valued at $100,000 to a number of fishermen's co- operative societies. In order to make the best use of the donation, these societies adopted a system whereby the parcels were considered as 'loans in kind' and the recipients under- took to pay into their respective society's revolving loan fund the value of the gear parcel, thus increasing the future loan power of the society.

Fishermen's Credit and Marketing Society. The functions of this society are parallel to those of the Thrift and Loan societies, but in addition it owns and operates a mechanized collecting vessel which brings its members' catches to the market for sale.

Federation of Fishermen's Co-operative Societies. This Federa- tion, formed exclusively of fishermen's co-operative societies in the Tai Po district, was registered in March. Its purpose