454 ANNUAL REPORTS OF DEPARTMENT OF AGRICULTURE. 



of marketing 29,980 hogs, 2,995 cattle, and 4,058 sheep. The records 

 of hog shipments tabulated include 122 cars shipped during Decem- 

 ber, January, and February; 60 cars shipped during March, April, 

 May, October, and November; and 10 cars shipped during June, 

 July, August, and September, by farmers and local shippers or deal- 

 ers; and 71 cars shipped during December, January, and February 

 by cooperative live-stock shipping associations. 



The mvestigations regarding grain marketing have been productive 

 of valuable information Avliich should enable this bureau to draw 

 definite conclusions regarding the efficiency of various types of 

 elevators, the results of the practice of mixing and conditioning grain, 

 the conditions now governing the storage of grain, the eftect of future 

 trading on spot values, pit scalping, methods of handling grain in 

 terminal markets, and the operation of "wire houses," grain ex- 

 changes, clearing houses, and grain commission firms. 



Figures regarding operating costs for five years have been obtained 

 from the books of over 400 elevators in North Dakota, Nebraska, 

 Kansas, Oklahoma, and Colorado, and an intensive study has been 

 made of the operation of over 130 elevators in Illinois and Iowa. 

 Information has been obtained regarding the actual prices paid by 

 elevators to farmers, the fiow of grain by months, and the cost of 

 handling grain, together with profits and losses. 



An intensive study has been made of the operations over a period 

 of five years of three large terminal elevator companies in Chicago. 

 Information regarding the "in" and "out" grades and the total 

 purchases and sales of cash grain for a period of five years has been 

 obtained from the original records of these firms, and has been 

 classified to show the source of grain supply, the period of hesLvy and 

 light purchases, the class of dealer from whom grain was purchased, 

 the basis upon which grain was bought, and the class oi dealer to 

 whom it was sold. 



Copies of the leases of elevators owned by railroad companies have 

 been secured, and the terms of these leases have been analyzed. 



A detailed study has been made of the operation of large "wire 

 houses" in Chicago. Financial statements have been examined 

 which show profits and losses, costs of operation, and sources of 

 income. An analysis has been made to show the occupation of the 

 customers of and the mileage controlled by such houses, and the dis- 

 tribution of their branch offices and correspondents, together with the 

 population they serve. 



A study has been made of " pit scalping," in order to obtain definite 

 information regarding the actual operations of typical pit scalpers, 

 the functions performed by such operators, and the costs of their 

 operations. 



A comparative study has been made of the methods of clearing 

 houses in Chicago, Minneapolis, and Kansas City. In this study 

 information has been obtained regarding the organization, member- 

 ship, rules, and operations of the various committees, with a view to 

 ascertaining the reasons for their existence and the functions per- 

 formed by each. 



An analysis has been made of the accounts of the largest grain 

 commission firms in Chicago. Costs of operation have been segre- 

 gated, sources of profit have been carefidly analyzed, and a general 

 study has been made to ascertain the economic function which com- 



