448 AGRICULTURAL ECONOMICS 



Damage caused by floods in the most important Texas potato 

 districts is giving an entirely new aspect to the old potato deal. 

 Reports received during the last two weeks indicate severe damage 

 by water and lead to the belief that the major portion of the Texas 

 crop has been done away with. Farmers in the northern states hold 

 the key to the situation. A survey of the warehouses throughout 

 Michigan, Wisconsin, and Minnesota indicates that less than 10 per 

 cent of total holdings are in the hands of dealers. With farmers still 

 retaining almost all of the remaining potatoes in the North, the move- 

 ment and prices depend entirely on their disposition to sell or hold. 



Seattle jobbers and speculators are awaiting with considerable 

 anxiety a decision from the Department of Agriculture at Washington 

 regarding their application to permit the importation of Canadian 

 potatoes, which would greatly undersell this market. Canadian 

 potatoes can be bought hi the vicinity of Vancouver and Victoria at 

 $15 @ $18, with plenty of stocks on hand, but the horticultural laws 

 prohibit entry because of a powdery scab . This week farmer holders of 

 eastern Washington who have been asking $32 @ $35 per ton f.o.b., 

 have been disturbed by reports, which they regarded as authentic, 

 that a trainload of potatoes from Maine was about to be dumped on 

 this market to sell at $25. Stock from so distant a point could not 

 possibly be sold hi competition with the local market, but holders 

 took it so seriously that they began cutting prices of their own stocks 

 to $30. 



There is a decided improvement in the citrus fruit market through- 

 out the country. Evidently the growers and shippers do not intend 

 to glut the market with excessive shipments, as the movement last 

 week was only nine cars more than the week previous. The growers 

 no doubt believe that with a moderate movement from now on to the 

 end of the season oranges will bring a fair price. 



Very low prices continue to rule in the California orange market; 

 in fact, values are running so low that some of the growers will get 

 very little, if anything, back for their fruit. Some of the New York 



trade says that the Exchange has too much fruit to sell. 



Offerings here and in other eastern markets are of poor quality because 

 of their age. It has been held up too long, presumably because the 

 exchange is topheavy with supplies. 



