120 THE MARKETING OF WHOLE MILK 



TABLE XX 

 A Columbus, Ohio, Dealer's Margins 



The spreads of different dealers vary widely. Although 

 they may be indicative of differences in costs, they are by 

 no means conclusive. One of the instances of differences 

 upon which there has been a great deal of comment is that 

 between the spreads of Philadelphia and of New York. 

 Philadelphia has the lower margin and also the lower re- 

 tail price. In 1913 the average price in Philadelphia was 

 8 cents, in New York 9 cents a quart. For 1919 the aver- 

 ages were 13.6 cents and 16.1 cents respectively, a differ- 

 ence of 1^/2 cents as compared with a difference of i cent 

 when the price was lower. The retail price in Philadelphia 

 had increased 70 per cent, in New York 79 per cent. The 

 fact that these ratios have practically been maintained 

 over a period of years in spite of the fierce competition in 

 both places indicates that there are probably fundamental 

 reasons for such differences. 



"Unquestionably the net profits realized by the leading 

 milk marketing concerns, on the basis of both capital in- 



