﻿LIVE-STOCK SHIPPING ASSOCIATIONS. 



29 



Table 1. — Comparison of the results obtained by three. Iowa eMppiitg aseocid- 

 tions in shipping, 1021 — Continued. 



Association 

 A. 



Association 

 15. 



c. 



Cost of shrinkage 2 



Total of net expense and cost of shrinkage. 

 General expenses, not included in above 



Insurance fund charge. 



Losses paid 



Claims collected, net . . 

 Net losses 



Cents per 100 

 lbs. 



7.03 



Cents per 100 



II,::. 



9. 75 



Cents 'per 100 

 lbs. 



12. 25 



82. 53 

 0.5 



5.0 

 5.7 

 3.6 

 2.1 



88. 85 

 0.70 



6.0 

 5.7 

 2.1 

 3.6 



79. 65 

 0.30 



5.0 

 2.0 

 0.0 

 2.0 



Per cent of gross sales value paid shippers 



Average price paid shippers per 100 pounds, dollars. 



91.8 

 8.16 



94.2 



8.48 



93. 

 9.10 



2 Calculated as follows, i. e., for hogs: 



Paid shippers for hogs (Statement B 1) 3185, 427. 98 



Add excess of insurance fund charge over losses paid, including net amount of claims 



collected 658.70 



Add undivided balance — gain 6. 53 



Total 186,093.21 



Deduct proportionate share of general expenses not deducted in determining amount 

 paid snippers above 112.32 



Net value of hogs 185,980.89 



$185,980.89-4-2,271,439 (market weight)=8.188<|;=net value of hogs per lb.; 19,512 pounds of 

 shrinkage, at 8.188$= $1,597.64= Total cost of shrinkage; $1,597.64-5- 2,271.439 (market 

 weight)=7.034«t=Cost of shrinkage per 100 lbs. 



WHO SHOULD KEEP THE BOOKS? 



The question frequently arises as to whether the manager or one 

 of the officers should keep the records. Although local conditions 

 will to a considerable extent decide this question in each case, it 

 will ordinarily be found more convenient and satisfactory if the 

 books are kept at the place of business or some other place where 

 they are accessible to the members and the management. Inasmuch 

 as practically all the business contacts with members and others 

 are made by the manager, he is most frequently called upon to 

 answer questions regarding the business, and, therefore, has occasion 

 most frequently to refer to the books. Furthermore, the manager 

 of the association is in a position of leadership, and the directors and 

 members look to him to take the initiative in determining the busi- 

 ness policies. Unless he has the figures regarding the business con- 

 veniently available for constant reference and analysis, he is in 

 very much the same position as the pilot without a compass 



It is not, of course, always possible in practice to make ideal 

 arrangements regarding the clerical work. In fact, the manager 

 who understands the handling and marketing of live stock and 

 who is also qualified or adapted to do clerical work is the excep- 

 tion rather than the rule. The disbursement of the funds and 

 the bookkeeping is therefore frequently done by some other officer 

 of the association, usually the secretary, or the local bank. In some 

 cases, the manager attends to the prorating and issues the checks for 

 live stock and the secretary-treasurer issues the checks for the home 

 expenses. The chief disadvantage of the latter plan is that all of 

 the records are seldom, if ever, available at one place or at one time. 



The prime considerations to be kept in mind are: (1) Safeguard- 

 ing the funds which can be accomplished by bonding those responsi- 



