I7 6 THE BUTTER INDUSTRY IN UNITED STATES [400 



tion in Berlin and this greatly helped to steady the quota- 

 tions as it did in Hamburg ". In some places in Germany 

 the municipal authorities have been represented on quota- 

 tion committees. In Denmark, from 1894 to 1904, the quo- 

 tation committee consisted of nine butter merchants and two 

 agricultural representatives. In 1904, the producers with- 

 drew because the quotations were too low and the dealers 

 paid premiums. In November of the same year a remedy 

 was sought in including the premiums. The quotations rose 

 suddenly and this caused many complaints from England, 

 but it was only a short time before premiums were again 

 paid. In 1906, an agreement was reached between the pro- 

 ducers and dealers by which the committee quoting prices 

 was to consist of four representatives of the farmers and 

 four merchants. In 19 12, the farmers demanded that the 

 chairman of the committee should be one of the merchants 

 but should have no vote, thus giving the producers a ma- 

 jority. This caused a rupture and the producers started 

 their quotations. Since then producers' and merchants' 

 quotations have both been made and the two have probably 

 a very healthful effect in arriving at a fair quotation. 



Obviously the best way to establish quotations is to sell 

 at an open auction providing that enough butter of all the 

 grades is offered. This was formerly possible under the 

 " call " in the exchanges but since the " contract system " 

 has grown so extensively, the butter offered under the "call" 

 is hardly sufficient to establish a representative price. 



The task of quoting butter prices in this country now 

 frequently falls to the lot of expert reporters who make it 

 their business to gather all facts possible that may affect the 

 butter market. The prices of sales under the " call " are 

 taken into account as well as all prices made at private sales 

 that can be secured. The reporter must be shrewd and 

 skillful enough not to be unduly influenced by pessimistic 



