THE MARKETIISTG OF MILL FEEDS. 11 



The date of the bill of lading signed by the agent of the railroad 

 issuing it is considered conclusive evidence of elate of shipment in 

 the absence of fraud. Exchange bills of lading show date of the 

 original bill of lading, the name of the railroad, the station, and the 

 agent who issued them. Any loss resulting through irregularity of 

 the bill of lading is due from the seller. 



Irregularities in- hills of lading. — When an invoice covering the 

 shijDment contracted for is received and no irregularities are found 

 in the bill of lading, payment of draft is made immediately if the 

 shipment was bought " sight draft " basis. If bought on " arrival 

 draft " basis and subject " inspection allowed," the draft is paid as 

 soon as the car has arrived and contents have been inspected. The 

 inspection should be performed promptly after notice of arrival is 

 given by the railroad agent. 



Delayed shipment. — If the seller fails to fill the contract within 

 contract time the buyer has the right to extend the time or buy in for 

 the seller's account, but prompt notice should be given to the seller of 

 the buyer's intention to do so. The buyer has the same rights in the 

 case of uncompleted contracts. 



Arhit7'ations. — Space will not allow a discussion of the rules per- 

 taining to weights, reshipment, claims, etc. In cases of dispute re- 

 sulting from misunderstandings about these features, it is customary 

 to refer them to the arbitration committee of the exchange or associa- 

 tion of which one or both parties to the contract may be members. 

 Friendly arbitrations are frequently resorted to. In the latter case 

 each party to the contract selects a person or firm to represent him in 

 the dispute and the two selected decide on the third member of the 

 committee. 



GRADES. 



Wheat feeds are known under various names and terms in different 

 parts of the country, but most commonly by the descriptions adopted 

 by the Association of Feed Control Officials of the United States. 

 Standards have been proposed by a committee of this association and 

 are under consideration. In the absence of contrary arrangements, 

 it is customary to accept the descriptions as promulgated by that or- 

 ganization, which are as follows: 



Wheat hran. — Wheat bran is the coarse outer coating of the wheat 

 kernel as separated from cleaned and scoured wheat in the usual 

 process of commercial milling. 



Standard middlings. — Standard middlings (red shorts or brown 

 shorts) consists mostly of the fine particles of bran and of germ, with 

 very little of the fibrous offal obtained from the " tail of the mill." 

 This product must be obtained in the usual commercial process of 

 milling. 



Gray shorts. — Gray shorts (gray middlings or total shorts) con- 

 sists of the fine particles of the outer bran, the inner or " bee-wing" 

 bran, the germ, and the offal or fibrous material obtained from the 

 '' tail of the mill." The product must be obtained in the usual com- 

 mercial process of flour milling. 



Flour middlings. — Flour middlings consists of standard middlings 

 and red dog flour combined in the proportions obtained in the usual 

 process of milling. 



