7243. May the possessor of the animal have been another creditor of your debtor who had it?-No; he was not.
7244. Is it possible that he may have hired it from your debtor?-I don't think it.
7245. You think he had it simply in loan?-Yes.
7246. When cattle are taken to market in that way by a creditor, do you know, from the general understanding of the country, how the price is fixed?-In many cases I think there is no price fixed at all.
7247. The animal is just taken generally for security of the debt?-Yes, in the meantime, until it is sold, and then the proceeds go to the party who put on the mark.
7248. These sales, I understand, take place at fixed places in each district, and at certain times in the year?-Yes, in May and October.
7249. They are conducted by public auction?-Yes.
7250. At these auctions does the creditor generally appear and bid for the marked cattle?-I don't think it. It would not avail for him to do so.
7251. Why?-Because any other party at the auction could buy them.
7252. But is the bidding perfectly fair?-Perfectly fair on all occasions.