LIVE-STOCK SHIPPING ASSOCIATIONS. 29 
Taste 1.—Comparison of the results obtained by three Iowa shipping associa- 
tions in shipping, 1921—Continued. 
Association | Association | Association 
A. B. C. 
Cents per 100 | Cents per 100 | Cents per 100 
lbs lb lbs 
bs. S. : 
COSHORSHET ALC en yen eee ee eras Ament Seen, Cae AE ee 7.03 9.75 12. 25 
Total of net expense and cost of shrinkage............. 82. 53 68. 85 79. 55 
General expenses, not included in above..................---- 0.5 0. 70 0.30 
Pasnranee rine: clrarges © certs VSR eTar Ok Soe EE oe eas 5.0 6.0 5.0 
OSSesrpala ts 2 Thon She tere Se ees esnane | peer . fate aay Bet! 2.0 
WIAIMSICONECLER MOU ee eee el ine nore es lee See a its 3.6 2.1 0.0 
INetfosseswggay Seg 5 METRES | 2 SS ee 21 3.6 2.0 
Per cent of gross sales value paid shippers...............-- Ife 91.8 94.2 93.0 
Average price paid shippers per 100 pounds, dollars.........-.. 8. 16 8.48 | 9.10 
| 
2 Calculated as follows, i. e., for hogs: 
Paidshippers zor hops! (Statementy ll) see sk cee oe a sen oe Sone eae bee teas Seon eech ese’ $185, 427. 98 
Add excess of insurance fund charge over losses paid, including net amount of claims 
OUECHEG EE TLY oe aCe pases ers oS peeing ee! Perper eas ho ers ee ea 658. 70 
PRA SMITIGITTORG Mala CO— PITT Ne yee eg PS FN ae ne eee coc cet ddpoccenee 6. 53 
TP yiie P8S Sak SI Rags s bbe oe oo Oak RA RN Ua CRN OES UMN ieee e Bok NUM ODE MREE seer ea re 186, 093. 21 
Deduct proportionate share of general expenses not deducted in determining amount 
Paid Shippers*aboves. seuss h se hee ee es eee Pisce lie teas re 2 112.32 
INE walligmE hogs 2h ehh a ee 28o. FI Ce ei ete Pe oe lS 185, 980. 89 
$185,980.89 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+2,271.439 (market 
weight)=7.034¢=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- 
