393] PRESENT ORGANIZATION OF BUTTER MARKET 169 



ELGIN BOARD OF TRADE 



BUTTER INSPECTOR'S DEPARTMENT 



Elgin, 111 191 



I hereby certify that I have inspected the following lot of butter for 



with the following result : 



Fees. 



.Inspector 



The New York Mercantile Exchange rules require this cer- 

 tificate to be countersigned by the Superintendent. While 

 inspection is mostly resorted to in cases of dispute or doubt, 

 some buyers, like the United States Navy Department, for 

 instance, frequently require goods to be tendered " certifi- 

 cate attached ". Inspections are very frequently made. 

 During the month of February, 191 5, the Inspector of the 

 New York Mercantile Exchange made 361 x official in- 

 spections; in this month there were only 22 working days. 

 Inasmuch as the rules require, in case the lot of butter ten- 

 dered fails to pass inspection, that another tender be made, 

 and for the reason that ultimately the purchaser is guar- 

 anteed a satisfactory delivery and the seller is assured 

 of the disposition of his butter when properly tendered, 

 trading is done on a perfectly safe and legitimate basis. 



1 New York Produce Review and American Creamery, March 3, 1915- 



