478 IOWA DEPARTMENT OP AGRICULTURE 



collected by the Stock Yards Company at the different markets, 

 along with the freight charges. You take out an application for 

 this insurance and we issue you wliat we call an open policy which 

 covers every shipment that you make from that day on. Your ship- 

 ments are automatically insured. It is not necessary for you to 

 give any notice to the company. This insurance plan has been 

 inaugurated at Sioux City, South Omaha and Chicago, and will 

 be in effect at Kansas City within the next week or ten days. It is 

 a proposition that has been indorsed by the different commission 

 exchanges at whatever markets we have inaugurated it, and it has 

 been recommended by the commission men. 



I have been asked why we didn't cover different features, such 

 as rough handling and smothering and all that sort of thing. Well, 

 we are not live stock men, and these things have to be brought to 

 our attention for consideration ; but I wish to say that we have now 

 under consideration these different features, and we are securing 

 statistics from the different markets to show the loss ratio, and it 

 may be possible that we can inaugurate some scheme to cover most 

 of the liabilities in transportation. Of course, we can't do it at 50 

 cents a car, especially on hogs; but for the present, until we have 

 some new legislation, it would seem that this would be a good plan 

 for the shippers to get additional protection, on account of their 

 only being able to recover so much per head, which does not come 

 up to the actual value of the animal today. 



Q. How about insurance at the yards'? 



Mr. Brandt : That is a different proposition entirely ; that is 

 carried by another company. Our responsibility ceases just as 

 soon as your cattle are unloaded at the chutes at the market, and 

 the yard insurance is taken up as you cross the chute scale, so I 

 understand. 



Q. Suppose they die from the heat? 



Mr. Brandt: "We don't cover that, bul \\v have it under con- 

 sideration. 



A good many men have said to me tliat this is a good thing foi- 

 the company, but it doesn't benefit th(^ shi])pei' mucli, for the reason 

 that the percentage of risks is very small. Tlie government r<>cords 

 show tliat thei-e are fifty wrecks and dei'ailiiieiits a day. 'I'lie risk 

 that the individual assumes is too great, and if lie should liav(^ a 

 wreck, and undei- the present contract reeovei' only $.")() a head for 

 a steer, which wouhl pi-ohahly be oidy hall' the value, he could not 

 afford to assume that risk and take the loss, because it would ci-ipple 



