ment of his money, which had been borrowed at 6 per cent. interest, till the end of this year's herring-fishing season, and even advanced some more money; and the minister of agriculture gave from his limited contingent fund $1,500 as a present, and $1,500 more to be repaid whenever it would be convenient. But even with such help the enter prise cannot be established on a firm basis, and when the herring fisheries have come to a close this season the association will have to decide the question, whether besides the three "loggers," which according to agreement are to be left rent-free to private individuals during the winter 1877-78, they will be able to fit out some more "loggers" in order to carry on the winter fisheries for the association. The management of the trawl-net can easily be learned, if only half the crew has some experience. If, therefore, the association were to fit out three more "loggers" for the winter fisheries 1877-78, it will be possible when the contracts with crews are made for the next herring season to promise steady employment from that time on to the whole stock of the crews possessing nautical experience. The future of the enterprise, which at present can neither die nor live, would then be secured if there were sufficient funds to make use of all the advantages.

It is well known that the association has laid a petition before the "house of delegates" (lower house of the Prussian parliament) to let them have a loan from the national treasury at a low rate of interest; and the house has by a large majority recommended this measure to the government. If this aid is granted, the enterprise, which so far stands alone in Germany, will be enabled to fulfill its economical mission also in the future. It is true that other enterprises which receive aid from the state, such as railroads, have similar aims, but then many of these pursue a competitive aim within the national boundaries, which is not the case with the herring-fisheries. For similar enterprises which might spring up will be able to start at a great advantage by not having to learn at a great expense all that which the Emden association had to learn. There can be no question of unlucky results, as every lender remains master over his future resolutions. The whole enterprise, moreover, means nothing less than a national competition with Holland and Great Britain, where capitalists are satisfied with lower rates of interest than in Germany. After it has within its present limits become more consolidated, it will soon be able to command private capital for the purpose of extending its sphere of capacity. It would have to be deeply deplored, if all the experience bought with so much money should be lost to the nation; for if the association were to declare itself bankrupt, their vessels would be sold in Holland, where they would fetch the highest price, and the buildings would have to be sold at a great loss, to be used for other purposes. Another generation would pass away before any one would again think of confronting the difficulties inevitably connected with the beginning of high-sea fisheries. This would have to be deplored all the more, as the managers

may have committed mistakes but have never been guilty of any wrong or dishonest act. The whole cost of administration has been so cheap, that every joint-stock company should take an example from it. The members of the board of directors receive no percentage. The report for 1876 will show, in conclusion, that the property, according to its book-value, represents about 75 per cent. of the whole joint-stock capital. But the actual value is even higher; thus the real estate is only reckoned at $19,062.50, and the eleven vessels at $58,762.50, while the latter have been issued at a value of $70,975. With the exception of lack of funds, the condition of the association is a healthy one throughout. The city of Emden and many patriotic Germans throughout the empire hope that his excellency the minister, Dr. Friedenthal, who looks on the enterprise with favor and who is fully competent to understand all its needs, will be able to find a way by which its future existence and prosperity can be secured.

APPENDIX B.

THE PROPAGATION OF FOOD-FISHES.

777-778

X.-THE BEST FOOD FOR YOUNG SALMONOIDS AND FOR LARGER SALMONOIDS IN PONDS.

[From circular No. 4 of the German Fishery Association, Berlin, May 28, 1877.]*

At the meeting of German pisciculturists held at Berlin, May 1 and 2, 1877, discussion on the above question was opened by Mr. Schuster, of Freiburg. He said that this question was one of great importance in more than one respect, and that he was desirous of obtaining information from competent persons. As regards the very young fish, some might say that it would be best not to feed them at all, but put them in ponds before they seek their food, and while they still have a small remnant of the umbilical bag. But this is not always advisable, for if the snow melts very suddenly the young fish are easily destroyed by the high water. Mr. Schuster, in conclusion, remarked that a Swiss had offered him a recipe for procuring a never-failing supply of suitable food, but he demanded no less than $4,000 for divulging the secret.

Mr. Haack, of Hüningen, made a long speech on this question, which he considered the most important question in pisciculture. He recommended the following food for young salmonoids: The larvæ of gnats, the small larvæ Daphnia, Cyclops, &c., which are skimmed off stagnant water (ditches, pools, &c.) with a fine muslin skimmer. Two children. do this early in the morning and in the afternoon, and he says he in this way gets enough food every day to feed 20,000-30,000, and even 50,000 young fish. This is the most natural food for them, but not the cheapest. Mr. Haack said he did not like to feed the fish inside the building for any length of time, for even if the fish grow till they lose their umbilical bag they are easily affected by the Achlya prolifera or fungus. The larger fish are fed on the larvae of the "Kriebelmücke," a sort of gnat which are found even in the coldest trout-brooks. The females of this species of gnat generally deposit their eggs on floating grass.

Ground meat ("Fleischmehl," meat-flour) and ground Norwegian fish ("Fischmehl," fish flour) seem to deserve special attention. According to information received from Mr. Kuffer, three to four parts ground meat are mixed with one part common flour. The ground meat is boiled a little in hot water and then the flour is stirred in. He had not yet tried * Which is the best food: (a) for young salmonoids and (b) for larger salmonoids in ponds where no food-fish can be obtained?

Welches Futter ist das beste: (a) für Salmonidenbrut, und (b) für grössere Salmoniden in Teichen, wenn keine Futterfische zu erhalten sind? Aus circular No. 4 des Deutschen Fischerei-Vereins, Berlin, den 28 Mai, 1877. Translated by H. Jacobson.