8 BULLETIN 1124, V. S. DEPAKTMENT OF AGKICULTURE. 



Billing instructions on future shipment contracts do not have to 

 be furnished until they are requested by the mills, which is usually 

 some time during the month in which it is contracted to make 

 shipment. Often, when the mills are in a position to do so, extension 

 of time is given. On the other hand, if the mill is unable to fill 

 the contract within contract time, the jobber or dealer frequently 

 extends the same courtesy and allows shipment to be made at a 

 later date than was originally agreed upon. The generally observed 

 rule covering the period allowed for the furnishing of directions 

 is that, unless otherwise agreed, all sales are understood to be for 

 shipment at seller's option and that specifications on sales for im- 

 mediate or quick shipment must be furnished at the time the transac- 

 tion is closed. On sales for prompt shipment such specifications 

 must be furnished within 3 days from date of the transaction. On 

 sales for a longer period specifications must be furnished by the 

 buyer within 3 days after demand by seller, and in any event at least 

 10 days prior to expiration of the contract, whether such specifica- 

 tions have been demanded by seller or not. 



As has been pointed out, the open orders on file with the jobber 

 or wholesale dealer are filled direct in case conditions do not warrant 

 the shipping of cars to holding points to be held for orders. In 

 case the demand for transit shipment is poor and no immediate im- 

 provement in conditions is expected, arrangements are usually made 

 to have the shipments placed in storage warehouses, many of which 

 are situated in eastern and western lake ports and large terminal 

 markets. 



While storing is resorted to at times to avoid breaks in prices, 

 such facilities are mainly used with the expectation that during the 

 fall, winter, and early spring materially higher prices may be 

 realized because of the increased demand during such periods for 

 feedstuff s generally and because of the demands of the jobbers' trade 

 during that period. 



In case storage is contemplated, arrangements should be made in 

 due time to enable carriers and owners of warehouses to make the 

 proper reservation. If such matters are taken up at the last moment 

 it frequently happens that because all available space has been 

 allotted no further requests can be entertained. 



The rates charged for loading and unloading, as well as storage 

 charges of railroad warehouses at lake ports, are those in effect at 

 time of unloading as per tariffs on file with the Interstate Commerce 

 Commission. The handling and storage charges of private ware- 

 houses are usually higher. 



The storage charges, as a rule, do not cover insurance, which must 

 be provided by the holder. The insurance rate is comparatively 

 low, as most warehouses have up-to-date fire protection. Policies 

 may be written for individual sliipments or one policy may take care 

 of all goods in certain warehouses in one city to the extent of their 

 declared value. The amount of the policy may be reduced from time 

 to time at the option of the insured, according to the value of the 

 goods shipped out of the warehouses. Not all of the warehouses 

 offering facilities for the storing of feeds have agreements with 

 carriers allowing the reshipping of such feeds at the through rate 

 from point of shipment to final destination. To avoid payment of ■ 



