THE SELLING OF FAT STOCK.

Bruce Herald, Volume XXVI, Issue 2646, 3 May 1895, Page 4

THE SELLING OF FAT STOCK.

The disposal of fat stock to the best advantage is a matter of the highest importance to pastoraUsta in every part of the world. There are two modes by which agents dispose of the fat stock entrusted to them for sale — namely, by public aucaoa and by private sale. The question as to which is the better of i hose modes of selling fat stock has lately attracted much attention in Britain and there hps been considerable correspondence in the agricultural journals on the su'-ject. The 'Maiklane Express ' exposes some popular fallacies with regard to the law of sales by auction, one of which is that the auctioneer is bound to declaie the amount of re-eive before commencing the sale, which is as fallacious as the belief that he has no right to bring down the hammer until he has for three several times asked if there are any more bids. On the &uViject of sala by auc'ion the journal referred to makes the £o])o*iDg pertinent remarks : — " The great point to note is that an auction sale must be fair, It cannot be said to ba fair if there is a reserve price, and tbe bidders are not aware of tliia fact. The law hai always recognised this, and has decided that if an auctioneer at'empts to spriDg a reserve price as aa afterthought he shall etill be compelled to knock down the goods to tbe highest bon-fi>Je bidder, who is justified in ignoring the reserve bi'J. Where, however, it is announced that there is a reserve price — which practica'ly means that the owner of the goods reserves to himself ihe tight 10 make one bid — then tht-re is no need for the price itself to be ruade known." In theory sale by auction should be the better pian, but such a thing as a ring is not entirely unknowD even among butchers. The law of England distinctly says that those who indulge in such practices are guilty of conspiracy, but that does not prevent the thing being done. When all fit stock are sold by live weight, and that is evidently coming, then it is possible all sales will be by auction.