15 



210 lbs. sulfate of potash (high grade), 

 1150 " acid phosphate, 

 200 " nitrate of soda, 

 440 " dried l)lood. 



2000 lbs. 

 The cost of these materials at retail, unmixed, in Boston ma}- have 

 been $32.00 which would represent about the so-called "com- 

 mercial valuation" of a brand of similar composition found in 

 the tables of analyses. This sum, however, does not represent 

 the entire cost to the purchaser for to it must be added the cost 

 of transportation, possible regrinding, mixing and bagging. In 

 case the above article was factory mixed and placed on sale in 

 the general markets, it would be necessary to add the additional 

 item of local agent's commission, long credits, depreciation of 

 factory plants, interest and profits. The entire sum approxi- 

 mates the agent's retail cash price. Great care and pains are 

 taken to procure the agents' cash prices published and in most in- 

 stances they have been verified over the agent's signature through 

 correspondence . 



The percentage excess of the average retail cash 



Percentage price per ton over the computed or commercial 



of value of each fertilizer; i. e., the percentage of differ- 



Difference. ence, is published to conform to our state law.. As 



has been repeatedly pointed out, this percentage 

 of difference should not be interpreted as representing the 

 profit which the inanufacturer 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, in- 

 terest and depreciation of factory plants. The "percentage of 

 difference" column, as published, becomes a convenient method 

 of comparing the commercial worth of fertilizers of the same grade 

 and cost, and usually indicates fairly the most economical fertilizer 

 to purchase. 



For the convenience of study and comparison the 



Comparison complete licensed fertilizers may be divided into 



of three grades: (a) those having a commercial value 



Grades of S 18 or less per ton classed as low grade of which 



of 67 brands occur; {b) those having a commercial 



Fertilizer, value between $18 and $24 classed as medium grade, 



representing 120 brands; (c) those having a com- 

 mercial value of over $24 per ton classed as high grade, represent- 

 ing 151 brands. The following table shows the average com- 

 parative commercial values, the average cash prices, the money 

 difference between the A^aluation and selling price, and the average 



