CONDEMNED STOCK.

Gisborne Times, Volume XXVI, Issue 2216, 13 June 1908, Page 3

CONDEMNED STOCK.

SYSTEM OF MUTUAL INSURANCE

AN ADVANTAGE TO ALL

Press Association.) AUCKLAND, June 12. An important proposal was laid betoro the executive, committee of the Agricultural and Pastoral Association this afternoon by a deputation from the Master Butchers’ As6ociaion in the form of a scheme for a mutual insurance fund between sellers and buyers of stook to cover losses through the condemnation of stock. ■Mr. Salmon, Junr., will/ acted as spokesman, said that the master butchers wished the Association, to appoint a subcommittee to confer with the butchers, when definite recommendations might be arrived at. It was recognised that when the new municipal abattoirs were in working order there would perhaps he a higher percentage of stock condemned. It was desired to come to some arrangement -that would cover . both; the farmer and the butcher against" loss. At present a butcher bought cattle at a good price and then perhaps had a number of beasts condemned, and their valuo was, of course, dead loss to him, while the fanner suffered the loss if the beast was condemned before 3 ile. Rr was proposed to have an insurance fund that would he paid into by both parties. Tlie scale of premiums would bo fixed by a joint board, and proportionately on the risk of condemnation of different classes of animals. It was intended’ that the premium should bo divided equally between ’buyer and soller, ami, of course, anyone not insuring would not expect so high a price for his stock. ' . , The meeting thanked the deputation for the proposals, and appointed a sub-committee to consider the matter and report.