OLEOMAEGAEINE. 325 



the loss. A decline of $2.50 per barrel in the price of oil will necessi- 

 tate a reduction of $2.50 per ton in the price of seed ; and upon that 

 basis the Tennessee mills alone would pay out for the quantity of seed 

 used this year $375,000 less than they would otherwise do, even if there 

 should be no further decline in the market price of oil; and this loss 

 would fall upon the class of farmers least able to bear it. 



This statement applies with equal force and truth to every oil mill, 

 and on the same basis will indicate, on the 2,000,000 tons of seed 

 bought by the 400 mills, an annual loss to the farmers of the South of 

 $5,000,000; and this, mark you, is caused merely by the fear of the 

 enactment of the law. What depression would result from its actual 

 enactment can only be conjectured. 



A few words about our product: 



The manufacture of cotton seed oil is conducted entirely by means of 

 machinery, and with the utmost cleanliness. From the time it leaves 

 the fields as seed cotton until it leaves the mills as oil, it is not touched 

 by hand. As it is the cheapest edible oil known, it is not possible to 

 profitably adulterate it. Its nutritive qualities are so well recognized 

 by physicians that its use is often indicated by them, even in its crude 

 state, to those of their patients who, suffering from tuberculosis and 

 other wasting diseases, are unable to buy the higher priced olive and 

 cod liver oils. Its palatability is known by everyone engaged in its 

 manufacture. Though oil mills run only a few months in the year, they 

 never have any trouble in getting hands, and at the time of starting up 

 are usually overwhelmed with applicants. A negro will quit any other 

 job to get where he can inhale the fragrant odor of the oil and drink as 

 much of it as he pleases. 



Mr. KNIGHT. May I ask the gentleman a question? 



The ACTING CHAIRMAN. If he will permit it. 



Mr. KNIGHT. Do you use any chemicals in the purification of cotton- 

 seed oil? 



Mr. BOND. We do not refine, sir. We manufacture only the crude oil. 



Mr. KNIGHT. Are you cognizant of the process of refining? 



Mr. BOND. No, sir. 



Mr. KNIGHT. In speaking of the loss that is likely io occur to the 

 planter in case the amount of cotton seed oil used at present in the 

 manufacture of oleomargarine in this country is displaced, you spoke 

 of it as $5.000,000. 



Mr. BOND. Five millions of dollars; yes, sir. 



Mr. KNIGHT. Do you know what the actual amount of cotton-seed 

 oil used in the manufacture of oleomargarine in this country is? 



Mr. BOND. Approximately. 



Mr. KNIGHT. What are your figures, please? 



Mr. BOND. Well, sir, I have stated that about 40,000 barrels are 

 used in the manufacture of oleomargarine in this country. That cor- 

 responds with the figures from the Treasury Department here. There 

 are something like 107,000,000 pounds of oleomargarine made, of which 

 amount about 10 or 11 per cent is cotton-seed oil. 



Mr. KNIGHT. And what is that oil worth ? That would be 16,000,000 

 pounds. What is that oil worth per pound? 



Mr. BOND. I have just stated in what I have said that it is the very 

 best grade of oil, and we think it goes a long way toward setting the 

 price for our whole production. It is a matter of fact, not of specula- 

 tion, that the price of oil advanced as soon as Congress adjourned last 

 spring and declined when this bill came up again. The mills of Ten- 



