532 



ANNUAL REPORT OF THE 



Off. Doc. 



It is not to be expected, of course, that the valuations thus computed will 

 precisely represent the fair price to be charged for a brand in each locality and 

 in every transaction. Market conditions, competition, distance from factory, all 

 introduce minor variations. Nevertheless, to make the approximation reasona- 

 bly close the average valuation of a given class of goods ought to agree closely 

 with its ascertained average selling price. Whenever such an agreement is no 

 longer obtained by the use of a schedule, it is evident that the schedule of 

 retail values of the constituents, or the added allowances for mixing, etc., re- 

 quires revision. 



It is needful to note here another factor greatly affecting the practical ac- 

 curacy of these approximations. Their computations would offer little difflculty 

 and their usefulness be far greater, if, by the ordinary methods of analysis, 

 the exact nature of the ingredients used to supply the several fertilizer con- 

 stituents, were capable of certain determination. This, is, however, possible, 

 to-day, to only a limited extent. The valuations are, therefore based on the 

 assumption that the fertilizers are uniformily compounded from high quality 

 ingredients, such as are commonly employed in the manufacture of fertilizers 

 of the several classes. Consumers should carefully avoid the error of accepting 

 such valuations as infallible; they are not designed to be used for close com- 

 parisons of single brands, but only to indicate whether the price asked for a 

 fertilizer is abnormal, assuming good quality for the ingredients used. From 

 tills it is clear that, except as high freights may require, the selling price of 

 a brand should not far exceed the valuation; but that a fertilizer may be made 

 of inferior materials and yet have a high valuation. 



The valuations used during 1905 w-ere modified for use during 1906 in accordance 

 with the changes in wholesale prices of fertilizing ingredients and to make the 

 valuations more closely follow the selling price. 



The following comparative statement shows the valuations and selling prices 

 of the several classes of fertilizers during 1902 to 1906: 



Fertilizers. 



a 

 o . 



;^ 

 p 



^2 



Spring, 1902. 



Complete 



Rock-and-potash, 



Dissolved bone 



Ground bone 



Dissolved rock 



Fall, 1902. 



Complete 



Rock-and-potash, 



Dissolved bone, 



Ground bone 



Dissolved rock, 



Spring, 1903. 



Complete 



Rock-and-potash '. 



Dissolved bone 



Ground bone 



Dissolved rock 



Fall, 1903. 



Complete 



Rock-and-potash 



Dissolved bone ., 



Ground bone 



Dissolved rock 



Spring, 1904, 



Complete, 



Rock-and-potash 



Dissolved bone 



Ground bone 



Dissolved rock 



365 



82 



3 



27 

 56 



264 

 74 

 11 

 49 

 60 



349 



75 



2 



22 



41 



24.29 

 14.73 

 30.87 

 27.25 

 13.34 



22.77 

 14.86 

 24.57 

 27.07 

 13.12 



25.07 

 15.45 

 28.42 

 27.77 

 14.06 



24.57 

 17.20 

 31.17 

 28.67 

 15.13 



21.98 

 15.96 

 23.67 

 27.52 

 14.64 



24.28 

 16.47 

 31.50 

 28.20 

 14.59 



1.23 

 -1.40 



.85 

 -1.72 

 —.24 



1.4S 

 -1.52 



1.7S 



— .5S 



.23 



—.28 

 -2.47 

 — .30 

 -1.43 

 -1.79 



— 1 



79 



10 



.90 



— .45 



-1.52 



.79 

 -1.02 

 -3.08 

 —.43 

 —.53 



