MARKETS AND RUBAL ORGANIZATION. 401 



GRAIN. SEEDS, AND HAY MARKETING INVESTIGATIONS. 



Studies and investigations relating to grain, seeds, and hay mar- 

 keting were undertaken as a separate project shortly before the be- 

 ginning of the fiscal year 1916. The purpose of the work, which is 

 under the direction of Mr. George Livingston, is to make a careful 

 and detailed economic study of grain, hay, and seed marketing at 

 producing centers and large central markets, together with their 

 sale to the consuming public, in order to obtain information useful 

 to the various agencies engaged in marketing and distributing these 

 products, and for the purpose of offering constructive suggestions for 

 the improvement of the service. 



STUDY OF MARKETING GRAIN AT COUNTRY POINTS. 



A general survey of the methods of marketing grain at country 

 points in the surplus-grain States of the Middle West was carried 

 on during the summer and fall of 1915. Much useful information 

 was obtained relating to the cost of marketing, methods of purchase 

 and sale, place of sale, prices and price quotations, storing grain, 

 contracting with farmers for future delivery, handling grain tor 

 farmers, hazards of the country elevator business, and related sub- 

 jects. It is planned to make this information available to the public. 



STUDY OF TERMINAL-MARKET PRACTICE. 



The terminal-market studies which were undertaken during the 

 fall of 1915 consisted of a study of the factors influencing the extent 

 of the contributing territory and the outlet for each market; a com- 

 parative study of the organization of chambers of commerce and 

 boards of trade, together with the uniformity and equity of trade 

 rules; terminal charges, methods of weighing, inspecting, and stor- 

 ing grain; charges, functions, and services rendered by brokers, 

 commission merchants, track buyers, jobbers, warehousemen, and 

 other agencies engaged in terminal marketing; prices and causes of 

 their fluctuation ; future transactions, their relation to hedging and 

 speculation; private-wire houses and special crop reports; market 

 quotations and other phases of terminal grain marketing. 



STUDY OF MARKETING GRAIN AND HAY IN THE EAST AND SOUTH. 



An investigation of the retail distribution of grain, grain prod- 

 ucts, and hay was begun in the early part of 1916. A large amount 

 of information was gathered relative to the functions of exchanges, 

 brokers, jobbers, and retailers; cost of distribution, difference be- 

 tween wholesale and retail price, as well as variation in cash and 

 credit quotations and door and delivery price; general and special 

 methods of retail distribution, together with other information rela- 

 tive to the subject. 



ISSUANCE OF SOUTHERN MARKET REPORTS. 



The natural outlet for the surplus oats of the Southwest is in the 

 Southeast. In order to aid the growers of the South in the profitable 

 distribution of their crop during the early movement, a series of oat- 

 market reports was issued during June and July, 1916. Informa- 



