MARKETING 195 



Meyer 1 write : "In order to facilitate trading between the 

 members rules and regulations have been adopted which 

 provide (1) for the establishment of classes and grades of 

 butter, (2) for inspection service to apply these grades, 

 and (3) for the adjustment of disputes in trading between 

 members. Through the officers of the organization in- 

 formation is obtained for the members regarding the 

 movement, prices, demand, and supply of butter in other 

 markets and receipts at the local market. . . . They 

 also obtain the benefits of cooperative action in matters 

 which are of mutual interest, such as state and city legis- 

 lation, transportation and terminal facilities, and improve- 

 ment of produce markets and marketing facilities." At 

 present these exchanges meet daily. 



THE PRICE 



147. How reported. It has already been stated 

 that the custom before the organization of exchanges 

 was for a few of the leading merchants to meet and to set 

 the prices. These prices were reported to the public 

 through the agricultural papers and by the newspapers. 

 It is asserted that Solon Robinson was one of the first 

 reporters of the produce markets. His work began in 

 1856. It is thought that the butter market was reported 

 at about the same time by Robinson for the American 

 Agriculturist, and by Clarkson Taber for the New York 

 Tribune. The first produce paper was published in 1858 

 or 1859 by Benjamin Urner, appearing once a week. 

 It later developed into what is now The Producers' 

 Price-Current, which in 1882 became a daily publication. 

 The various trade papers have no small part in determining 



1 Potts, Roy C., and Meyer, H. F., Marketing Creamery 

 Butter, U. S. Dept. of Agri., Bui. 456, pp. 16-17, 1917. 



