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Show rvestoclc feituatiorLJ Los Angeles, California. July 12. Stock yards interests have won out in their efforts to assure livestock producers of greater protection of their interests when shipping to market as result of ruling just made by the United States Packing and Stock Yard ' administration at Washington,! D. C. This ruling provides that on and after August 1, bonds or other forms of indemnity which i the government requires of livestock live-stock commission agencies will be limited to cover obligations incurred incur-red in the purchase and sale of livestock at posted " stock yards j only. This means a marked change in: the existing situation and the! condition during the past two' years where marketing agencies working on a commission basis had bond protection for their clients whether the transactions iniolved were on posted markets or elsewhere. While stock yards' interests were anxious to see protection pro-tection for those who did not use the posted markets, in a practical' way it was difficult if not impossible impos-sible for the government to super- vise operations outside of posted markets. Thus, in case of trouble in livestock shippers getting cash due for the sale of their stock, a very serious question arose as to how the amount of the cash bond could be apportioned between transactions on the markets and in the country, where no government govern-ment supervision is available. The point is that there never could be any actual protection for livestock owners in country transactions trans-actions due to the practical inability inabil-ity of the government or any other agency to supervise such deals as in the case on the posted stock yards. The idea of requiring livestock sales agencies to take out cash bonds to assure every patron of the market getting his cash for shipments sold on the market was initiated on the posted markets several years ago as a protection te shippers. All stock yards interests in-terests hear with pleasures that such protection is now assured those who patronize the open markets, as it rounds out the program pro-gram of both health and financial finan-cial protection to the industry. |