1911. 



PUBLIC DOCUMENT — No. 31. 



61 



noinical fertilizer to purchase. It should never be interpreted 

 as representing only the profit which the manufacturer makes 

 on his fertilizer. It must include not only the profit, but all 

 other expenses connected with the manufacture and delivery of 

 the goods, such as grinding, mixing, bagging, transportation, 

 agents' profits, long credits^ interest and depreciation of factory 

 plants. 



Composition according to Grade. — The following table 

 shows the average composition of the complete commercial fer- 

 tilizers, according to grade, as sold in the Massachusetts mar- 

 kets during 1910: — 



A study of the above tables shows : — 



1. That the percentage difference or percentage excess of the 

 selling price over the valuation in the low-grade fertilizer is 

 over twice what it is in the high-grade goods. 



2. That with a 38 per cent, advance in price over the low- 

 grade fertilizer, the high-grade furnishes over 84 per cent, in- 

 crease in commercial value. 



3. The average high-grade fertilizers, with a 14.6 per cent, 

 advance in price over the medium-grade goods, furnishes about 

 23 per cent, more plant food and about 37 per cent, increase 

 in commercial value. 



4. That with a 38 per cent, advance in price over the low- 

 grade fertilizer, the high-grade furnishes more than Y8 per cent, 

 increase in available plant food. 



5. The medium-grade goods cost about 20 per cent, more 



