SELLING METHODS 207 



that it will keep for some little time. The directors set 

 a price for which the product should be offered to the 

 trade. When this price was agreed upon and the esti- 

 mates of the oncoming crop tabulated, they sent this 

 information to all of the large buying houses and job- 

 bers in the East, asking them to reserve such quantities 

 as they saw fit. 



They did this fully one month ahead of the time at 

 which the fruit was harvested. The buyers in the East- 

 ern markets, knowing that the price had been fixed and 

 they could not get the product at any other place for a 

 less price, immediately wired or wrote the exchange to 

 reserve such quantities as they thought they would need 

 for the year's supply. This particular exchange esti- 

 mated its entire crop at 2,000 tons. By the end of the 

 first week, after the buyers had been advised of the 

 prices set, all of the crop had been bargained for and 30 

 carloads in excess of what it could supply. These, of 

 course, were bonafide orders and were booked in ac- 

 cordance with the way in which they were received. 

 Those coming in first were filled first, and if there were 

 not enough to go around the ones ordering last were 

 compelled to take short measures. 



AVhen the product was shipped to the Eastern market 

 it was consigned direct to the buyers. Along with the 

 bill of lading went a sight draft attached, covering the 

 price of the contents of the car. A copy of this bill was 

 also sent to the bank through which the buyers were 

 doing business. The railroad then acted as agent to pro- 

 tect the sellers. Before the buyer could gain possession 

 of the carload he was compelled to go to the bank and 

 take up the attached bill, which then became a sight 



