WARRANTY FOR STOCK

Dominion, Volume 2, Issue 497, 3 May 1909, Page 10

WARRANTY FOR STOCK

INSURANCE METHODS AT ADDINCTON. In view of the proposal to introduce at Auckland a system of insuring stock at auction Bales against -condemnation, "'and !.loss ; through disease, the follownig .reference .by our special Christchurek correspondent to the system in vogue at Addington sale yards will be interesting:— . Under the. Addington Sale Yards Pat Oattle Insurance Fund (he writes), 6d. per head is paid each by seller and buyer for steers, 9d. per head for heifers, and Is. 6d; per head for cows, making totals of Is., la. 6d.,- and 3s. respectively per head. The Government pays 'one-third value for all ■ cattle condemned at the abattoirs, and the fund pays the other two-thirds, and«also the cost, of killing. An inspector appointed by the managers of the,fund.,.goes through the cattle before the.- sale,. and all cattle passed by-him are branded and brought under the fund. Those.not passed; are sold at the buyer's own risk, and in the/event of their being condemned only .the .Government payment of one-third value; is received. The fund; is managed by a committee of five, comprising two'representatives of the graziers and dealers,' two butchers/ and an independent chairman, who. at present is an auctioneer; The fees are more than sufficient to pay for all losses, as there is an accumulated balance of over £700. . !