14 



BULLETIN 36, U. S. DEPARTMENT OP AGRICULTURE. 



Table VI. — Actual differences between prices paid for various grades of cotton 

 in certain markets on certain dates with the differences which would have 

 been paid if published difference sheets had been applied. 



Date. 



Place. 



Number 

 of bales 

 sampled. 



Highest 

 grade. 



Lowest 

 grade. 



Difference 

 in cents 



per pound 



actually 



paid. 



Published 

 difference- 

 sheet 

 difference. 1 



1912. 

 Oct. 26 



Cordell 



9 



10 

 10 

 12 

 14 

 11 

 12 

 23 



7 

 17 

 10 

 12 

 23 

 10 



6 

 10 



M 



S. L. M. 



spot. 

 M 



0.50 



.10 



.215 



.375 



.30 



.50 



.20 



1.90 

 .85 



1.00 

 .50 



1.25 

 .25 

 .75 



1.50 



3.90 



0.625 



26 



Holdenville 



G.M 



G.M 



G.M 



G.M 



G.M 



S. G.M... 



G.M 



M .. 



.25 



26 



Eufaula 



M 



.25 



29 



Erick 



S.L.M... 

 S.L.M... 

 S.L.M... 

 S.L.M... 

 S. G. O... 

 L. M 

 L. M 

 L. M 

 L. M 

 G. O 



M. tinfre... 

 L.M 



S. G. O. 

 stain. 



.625 



29 



Duncan 





30 



Caddo 



.625 



30 



Byars 



.25 



Nov. 9 





2.25 



11 



Hobart 



1.25 



11 





G.M 

 S.M 



G.M 

 G.M 

 S.M 

 G.M 

 M... 



1.25 



12 





1.375 



14 





1.625 



20 



Lindsav 



3.00 



Dec. 18 





.8125 



19 





1.625 



21 





6.00 











1 A point in cotton is T \^ of a cent per pound. 

 SI. 25 per 500-pound bale. 



Hence a difference of 25 points, or \ cent, amounts to 



Table VII brings out the fact that in nearly every case where the 

 actual range in price is wider than the difference sheet would justify 

 the range in actual grade is but slight. In no case does the range 

 cover more than three grades, and in no case does it include any- 

 thing lower than strict low middling. This shows that when the 

 cotton is fairly uniform and very little of it is actually below mid- 

 dling there is a tendency to buy a certain proportion of it below its 

 actual grade. In other words, there is a disposition to assume that 

 the average cotton on the street is about middling and that conse- 

 quently some bales, not quite equal to the best, must be below mid- 

 dling, and the farmer's ignorance of grading renders him practically 

 defenseless except as competition among buyers may help him out. 



Table VII.- 



-Certain towns in which on certain dates the differences in prices 

 paid exceeded the published differences. 



Place. 



Date. 



Number 

 of bales 

 sampled. 



Highest 

 grade. 



Lowest 

 grade. 



Difference 

 in cents 



per pound 



actually 



paid. 



Published 

 difference- 

 sheet 

 difference. 



Purcell 



Ryan 



Wynnewood 



Luther 



Okemah 



Norman 



Snyder 



1912. 

 Oct. 28 

 Oct. 28 

 Oct. 29 

 Nov. 7 

 Nov. 16 

 Nov. 23 

 Nov. 27 



S. G. M.. 



S.M 



G.M 



G.M 



S.M 



M 



S.M 



S.M... 



M 



S.M... 

 M 



S.L.M 

 S.L.M 

 S. L. M 



0.275 

 .25 

 .20 

 .50 



.70 

 .75 

 .75 



0. 125 

 .125 

 .125 

 .25 

 .50 

 .375 

 .5625 



In order to emphasize the facts shown in Tables VI and VII and 

 to show to what extent the difference sheets influence the prices paid 



