660 ANNUAL REPORT OF THE Off. Doc. 



The valeus assigned, for the present, to the other elements in'the 

 cost of the fertilizer at the point of a delivery are: 



3. For mixing, fl.OU per ton. 



4. For bagging, $1.00 per ton, in all cases except those in which 

 the article was sold in original packages; the cost of the package 

 being, in such cases, included in the wholesale price. 



5. For agents' commissions, 20 per cent, of the cost of the goods 

 f. o. b. at the jobbers' or .mixers' warehouse. 



6. For freight, !|2.00 per ton; the cost of the freight in lots of 

 twelve tons or over, from the seaboard to Harrisburg, averaging 

 11.88 per ton. 



The following valuation of dissolved South Carolina rock illus- 

 trates the method: 



Phosphoric acid. Per cent. Weight per ton. 



Soluble, 11.50 230 lbs. at 3c. |6 90 



Reverted, 2.50 50 lbs. at 2ic. 125 



Insoluble, 1.00 20 lbs. at Uc. 30 



Retail cash value of ingredients, $8 45 



Bagging, 1 00 



Cash value of goods ready for shipment, $9 45 



Agents' commission, 20 per cent., 1 89 



Freight, 2 00 



Commercial value per ton, $13 34 



It is not to be expected, of course, that the valuations thus com- 

 puted 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 reasonably 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 evi- 

 dent that the schedule of retail values of the constituents, or the 

 added allowances for mixing, etc., requires revision. 



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

 tical accuracy of these approximations. Their computation would 

 offer little difficulty and their usefulness be far greater, if, by the 

 ordinary methods of analysis, the exact nature of the ingredients 

 used to supply tln^ several fertilizer constituents, were capable of 

 certain determination. This is, however, possible, to-day, to only a 

 limited extent. The valuations are, therefore based on the assump- 

 tion that the fertilizers are uniformly compounded from high qual- 

 ity 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 comparisons of single brands, but 

 only to indicate whether the price asked for a fertilizer is abnormal, 

 assuming good quality for the ingredients used. From this it is 

 clear that, except as Iiigh freights may reouire, the selling price of 

 a brand should .not exceed the valuation; but that a" fertilizer 

 may be made of inferior materials and vet have a high valuation. 



