141 



This table demonstrates the entire theory of cold storage and its 

 economic aspects. It shows the heavy receipts in the market during the 

 spring months, for example, 923,261 cases in May, 1912, and 742,862 

 cases in May, 1913. Likewise it shows the light receipts in the market 

 during the fall and winter months, for example, 157,406 cases in Decem- 

 ber, 1912. At the same time it exhibits how the surplus receipts of the 

 spring enter storage; for example, the storage input of 599,000 cases in 

 May, 1912, and 367,500 cases in May, 1913. The fact that the move- 

 ment into and out of cold storage is regular, seasonable and in exact refer- 

 ence to the receipts in the market, is clearly shown, indicating an obedience 

 to the law of supply and demand and disproving any assimiption of con- 

 trol or corner. A study of the prices shows the heavy losses of a year 

 ago and the natural profits of this year because of the shortage. 



The smnmary and comparison is illuminative, disclosing a decrease 

 in receipts in the market of 196,248 cases, an increase in the trade out- 

 put of 155,000 cases and a deficiency of 377,000 cases in the storage hold- 

 ings on November 1st, compared with last year. It should be remem- 

 bered that the reserve stocks have to serve the market until next spring, 

 and that under the same receipts as last year, we face a prospective short- 

 age of 185,250 cases to carry us through, unless by reason of price or 

 decreased demand the average is changed. New York is an absolutely 

 open market and is typical of the whole country. The New York Pro- 

 duce Review says, in commenting on these figures, "The unfortunate 

 difficulty is that the facts of the case are so plain and so simple that they 

 can hardly be believed by agitators and others who are saturated with 

 the conviction of monopoly, combinations, price control or other under- 

 handed and mysterious manipulations." 



The Massachusetts Conunission on Cold Storage has this to say on 

 the effect of cold storage on prices and increased production: 



'^The per capita receipts of the chief food products subject to cold 

 storage handling, namely, eggs, butter and poultry, increased greatly in 

 Boston and New York markets during the decade 1901-10 as compared 

 with the decade 1881-90, prior to the general adoption of cold storage 

 methods. This fact appears to indicate that cold storage has contributed 

 to increase the volume of production. . . . The average prices of 

 butter and poultry were lower in the second decade than in the first, the 

 average price of eggs was sHghtly higher, but this fact is explained by 

 peculiar conditions affecting the egg market." 



Mr. F. G. Urner in testifying before the U. S. Senate Committee 

 on Manufactures stated: ''The per capita consumption of eggs at New 

 York has increased largely since ample cold storage facilities became 

 avaflable." Again he says: "The average price of fresh gathered and 

 storage eggs taken together were lower during the season of scarcity since 

 cold storage has been available than were the prices for fresh gathered 

 eggs before cold storage was available, notwithstanding a well-known 



