12,415. Do they differ materially in their details?-They are all the same for the Faroe fishing. They have been altered from year to year, according to circumstances, but not very much.
12,416. Does that agreement leave the whole power of disposing of the produce and of fixing the price in the hands of the fish-curer?-Not of fixing the price exactly. The men are to be paid at the current price for the year. That is their stipulation with us.
12,417. But the ascertainment of the current price is left entirely to the merchant?-Yes. The merchants have to dispose of the fish, and account for them to the men.
12,418. These agreements make the fishermen and the merchant really partners or joint adventurers, so far as the fishing of the season is concerned?-Of course they do.
12,419. But it leaves the merchant in the position of having the sole power over the produce, both as to selling it and fixing the price?-He has the power of completing the cure of it and of selling it. The merchant has to take the risk in selling. If we were to sell to a party who failed, we would still be responsible to the men for the current price.
12,420. Is that expressed in the agreement?-I don't think it is expressed in our agreement, but it is understood.
12,421. Is it not the case that the fishermen can only claim what is really got for the fish?-No. If we were to sell them at half-price, we would still be bound to pay the men the current rate at the end of the season.
12,422. If you sold them for the current price, but failed to recover that price from the buyer, would the fishermen have any recourse against you?-Yes; we would have to pay them.
12,423. Has that been done frequently?-No. There was one instance where we sold fish and got almost nothing for them, and yet accounted to the men for the price. I think that was in 1867. The party to whom we sold the fish stopped payment, and we only got a small compromise.
12,424. Had you paid your fishermen before the failure?-I think not; at least we knew of the loss before we settled with the fishermen, but there never was any thought of not paying them. We knew that we were responsible for the payment to the men, under the terms of the agreement.