Abstract: The application of a fish formula (24) to a bait or lure by a fisherman, in a rapid, safe and expeditious manner, is facilitated by storing the formula in a container (22) of a container assembly (10) which is capable of being mounted on a rail (12) of a boat. The container assembly (10) is of a construction such that the container (22) can be moved into an inboard position when the boat is being moved to or away from a dock, or is underway over open water, and can be moved into an outboard position above the water for fishing. The container assembly (10) comprises a base or pedestal (16), a vertical support post (18) mounted on the base for movement about a vertical axis, and an arcuate cantilevered support arm (20) mounted on the vertical post for movement about a horizontal axis. The container (22) is supported on the arcuate support arm (20) by a mounting comprising a resilient bushing (68) and a screw-and-nut assembly (76, 78).