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about 169,541,000 cubic feet of storage space and representing an invest- 

 ment of about $75,000,000. It is estimated that the value of goods stored 

 in one year ranges from $500,000,000 to $700,000,000. It is, however, 

 calculated that not over from five per cent to ten per cent of the annual 

 production of such foods as eggs, butter, poultry and meats are placed in 

 cold storage for periods of over thirty days. This corrects the popular 

 notion as to the quantity of products held in cold storage, but another 

 error is in reference to the length of the period of storage. The U. S. 

 Department of Agriculture, Bureau of Statistics, made an exhaustive 

 study of this subject, based upon reports from the warehouses of the 

 country for the years 1909-1910. In stating the proportion of foods 

 remaining in storage for ten months, the report (Bulletin No. 93, page 30) 

 says: ''Let the percentages for the deHveries of ten months be stated. 

 These are represented by 99.9 per cent for fresh pork, 98.9 per cent for 

 dressed poultry, 97.8 per cent for butter and 99.9 per cent for eggs. 

 The important observation to be made is that the receipts into cold 

 storage are entirely or very nearly exhausted by the deliveries within 

 ten months." The same report gives the average length of storage as 

 follows: Fresh beef, 2.28 months; fresh mutton, 4.45 months; butter, 

 4.43 months; poultry, 2.42 months; eggs, 5.91 months. This is the 

 answer -to the exaggerated stories of the long holding of these products. 

 We come now to a consideration of the effect of cold storage on prices, 

 especially of eggs, which is the essence of the present controversy. Let 

 me introduce here in chart form a statistical review of the New York 

 egg market from March, 1912, to November, 1913, together with a sum- 

 mary and comparison of the figures. This review was prepared by Mr. 

 F. G. Urner of the New York Produce Review. (See next page.) 



