200 STATE BOARD OF AGRICULTURE. 



ji^uaraiitce iu potash. Two (0.7%) are below guarantee in nitrogen and 

 potash, 1 (0.3%) in potash and avaihible ])hosphoric acid. 



While there are, as stated above, 27 samples falling below guarantee 

 iu one or more constituents, there is, however, only 1 (0.3%) that is 

 more than 75 cents ])er ton below its guaranteed commercial value. This 

 is a very satisfactory showing. 



SCHEDULE OF TRADE VALUES. 



In accordance with the custom adopted and followed in previous 

 years, the following schedule of prices for determining the commercial 

 valuation of a fertilizer is published: 



Nitrogen 17.8c per pound 



Potash soluble in water 4i^c " '" 



Available phosphoric acid 5c " " 



Total phosphoric acid in bone 4c " " 



Insoluble phosphoric acid in fertil- 

 izers containing nitrogen 2c " " 



In fertilizers containing no nilrogen no value is given to insoluble 

 phosphoric acid. The valuation of a fertilizer is determined as follows: 

 The percentage or pounds per hundred of each ingredient (nitrogen, 

 available phosphoric acid, insoluble phosphoric acid and potash) is mul- 

 tijjlied by 20, giving the number of pounds of each ingredient in a ton. 

 These figures are then multiplied by their respective poimd prices. 



In the last column of the table of analyses headed "Valuation"' is 

 given the commercial valuation of the samples, as guaranteed and as 

 found, based upon the prices quoted above. 



In calculating the valuations we have assumed that the sources of 

 the various ingredients have been the same in all cases, which of course 

 is not true and also unfair to the manufacturer using only high grade 

 materials, as it places the manufacturer who uses low grade goods on 

 the same level. Consequently it should be clearly understood that the 

 station valuation does not represent the i)roper retail cost of the fer- 

 tilizer at the point of consumption. It does, however, represent the 

 cash cost, at the larger fertilizer centers of the middle west, of an 

 amount of nitrogen, available ])liosplioric acid and potash in unmixed, 

 standard raw materials of good quality, corresponding to the amounts 

 found in one ton of the fertilizer in question. 



The difference between the selling price and the Station valuation i? 

 repi-osentcd by the cost of storing, grinding, bagging, hauling and 

 freighting the goods, commissions to agents and dealers, bad debts, de- 

 preciation of machinery, interest on investment, etc. The ditference 

 l)etween the selling price and Station valuation should not exceed 35 

 (tr 40 j)er cent. The Station valuations ai'o useful to show wliethcr a 

 fertilizer is worth its guaranteed money value and purchasers will often 

 find them of advantage in comparing the relative values of similar 

 brands offered by different manufacturers. The commercial valuation 

 of a fertilizer bears no relation to its agricultural value. The agricul- 

 tural value is measured by the increased yield of ero]» due to its use. 



The great difference in fertilizers from the commercial as well as from 



♦A shortage of more than 0.10 per cent of nitrogen of more than 0.20 per cent of available phos- 

 phoric acid or potash is considered below guarantee. 



