796 



ANNUAL REPORT OF THE 



Off. Doc. 



per cent. That is, the general tendency is to excess in the cheaper 

 ingredient and deficiency in the more costly, in samples exhibiting 

 deficiency at any point. The average value per ton of the excess 

 available phosphoric acid is 41.8 cents; of the deficient potash and 

 nitrogen, 49.2 cents; so that, in point of cost, these cases present an 

 average deficiency in value at the point of shipment of only 7.4 cents 

 per ton. 



In the foregoing paragraphs' consideration has been confined to 

 samples that are at some point abnormal; about one-half the samples 

 tested were up to or above guaranty at all points. The true average 

 condition of the market for complete fertilizers will be more fairly 

 exhibited by a comparison of the average composition of all samples 

 for which guaranties are recorded with the average of the corres- 

 ponding guaranties; they are as follows: 



Phosphoric acid: 



Total 



Available, 



Potash 



Nitrogen, 



9.82 

 8.06 

 2.66 

 1.39 



In general then, the consumer receives, on the average, almost 

 exactly the guarantied amounts of potash and nitrogen and a very 

 liberal allowance of phosphoric acid of high availability. 



It is of interest to note how closely the system of valuations, based 

 upon the wholesale prices of raw materials in the principal markets 

 during the most important buA'ing season and upon certain average 

 allowances for expense and profit on the part of the mixer and job- 

 ber, coincides with the retail prices later ascertained. A compari- 

 son for several seasons past is given below. 



