THE YOUNG FARMER 



is possible for an owner to sell his own live 

 stock in these yards, but the commission 

 man, because of his superior knowledge of 

 existing trade conditions, is almost univer- 

 sally employed. Firms which handle cat- 

 tle, sheep and hogs seldom sell horses. 

 Although handled by different commission 

 firms, important horse markets are main- 

 tained at Chicago and Buffalo immediately 

 adjacent to the market for meat animals. In 

 New York the horse markets are in a differ- 

 ent section of the city, that for draft and 

 common work horses on one street, while 

 the American Horse Exchange, located at 

 another point, handles high-class light 

 horses. The usual custom is to sell horses 

 at auction, although they may be purchased 

 at private treaty. In whatever manner pur- 

 chased, it is essential to understand precisely 

 the character of the guarantee. 



COTTON, WOOL AND TOBACCO MARKETS 



Because of their higher value per pound 

 and the ease with which they can be stored, 

 cotton, wool and tobacco are dealt in some- 

 230 



