FOR STOCK INSURANCE.

King Country Chronicle, Volume III, Issue 155, 13 May 1909, Page 5

FOR STOCK INSURANCE.

In view of the proposal to introduce here a system of insuring stock at auction sales against condemnation and loss through disease, the following reference to the system in vogue at Addington sale yards will be interesting:—

Under the Adding ton Sale Yards Fat Cattle Insurance Fund, fkl per head is paid each by seller and buyer for steers, gd per head for heifers, and Is fid per head for cows, making totals ot' is. Is Cxi. and 3> respectively per head. Tlie Government pays one third value of all cattle coademntd 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 overlooks 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 buyers 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 feiiis ate mote than sufficient to pay for all losses, as there is an accumulated balance of over £7OO.