CONDEMNED STOCK.

Dominion, Volume 1, Issue 223, 13 June 1908, Page 6

CONDEMNED STOCK.

— •PROPOSED MUTUAL INSURANCE FUND. (BY TEIiEGIIAFH —PRESS ASSOCIATION.) Auckland, June 12. An important .proposal was laid before the Executive Committee of the Agricultural and Pastoral Association this afternoon by a deputation from tho Master Butchers' Association in tho form of a scheme for a mutual insurance ■ fund between sellers and buyers of stock to cover losses through the condemnation of stock.

Mr. Salmon, jun., who acted as spokesman, said the. master butchers wished .the Association to appoint a sub-committee to confer with the butchers when definite recommendations might be arrived at. It was recognised that. when the now municipal abattoirs were in'working order there would perhaps be" : a . higher percentage of stock condemned. It was desired to come tosomo arrangement that would cover both the farmer and the butchor against loss. At present a butcher bought cattle at a good price, and thon perhaps had a number of beasts condemned, and itheir value was, of course, dead loss to him, while the farmer suffered loss if .the beast was condemned before sale. It was proposed to havo an insurance fund that would be paid into by both parties. The scalo of premiums could be fixed by a joint board, and proportionately on tho risk of condemnation of different classeß of animals. It was intended that the promium should bo divided equally between buyer _ and seller, and, or course, anyone not insuring could not expect so high a price for his stock. Tho meeting thanked tho deputation for tho proposals, and appointed a sub-commit-tee to consider tho matter and report.