PEIMARY COTTON MARKET CONDITIONS IN OKLAHOMA. 



25 



Table XI. — Relation of price of middling cotton at Oklahoma points to 



Galveston price. 



Place. 



Date. 



Number 

 of bales. 



Average 



local price 



per 



pound. 



Galves- 

 ton 

 price per 

 pound. 



Differ- 

 ence in 

 price per 

 pound. 



Freight 

 per 100 

 pounds 

 to Gal- 

 veston. 



Duncan 



1912. 

 Oct. 25 

 Oct. 29 

 Nov. 6 

 Oct. 26 

 Oct. 30 

 Nov. 6 

 Oct. 25 

 Oct. 30 

 Nov. 4 

 Nov. 15 

 Oct. 30 

 Nov. 4 

 Nov. 14 

 Nov. 18 

 Nov. 21 

 Nov. 16 

 Nov. 23 

 Dec. 20 



4 

 4 

 3 



13 

 5 

 4 

 7 

 9 



11 

 2 

 2 

 4 

 7 

 5 

 3 

 5 

 4 

 2 



Cents. 

 10. 55 

 10.64 

 11.29 

 10.72 

 11.13 

 11.43 

 10.75 

 10.81 

 11.33 

 11.00 

 10.68 

 11.54 

 11.24 

 10.99 

 11.60 

 11.67 

 12.09 

 12.00 



Cents. 

 11.00 

 11.19 

 12.00 

 11.19 

 11.25 

 12.00 

 11.00 

 11.25 

 11.75 

 12.13 

 11.25 

 11.75 

 12.13 

 12.00 

 12.25 

 12.00 

 12.38 

 13.00 



Cents. 



0.45 

 .55 

 .71 

 .47 

 .12 

 .57 

 .21 

 .44 

 .42 



1.13 

 .57 

 .21 

 .89 



1.01 

 .65 

 .33 

 .29 



1.00 



Cents. 

 68| 



Ryan 



68! 

 68! 

 59! 



Norman 



59| 

 59| 

 71! 



Mountain Park 



71! 

 71! 

 71! 

 76! 



Marietta 



76! 

 76! 

 76! 

 76! 

 52 





52 

 52 



In a general way we have presented the figures for each town 

 during a period within which the Galveston price advanced approxi- 

 mately 1 cent. 



In this tabulation we have included only bales which graded 

 exactly middling on the official classification and have averaged the 

 price of all such bales sampled and have compared this average with 

 the closing Galveston quotations of the preceding day. 



It will be noted that while there are some irregularities, there is 

 a very general widening of the difference between port and interior 

 prices as the port price advances. In other words, while the interior 

 market does respond to a rise in Galveston quotations, it responds 

 rather slowly, and as long as cotton is going up in Galveston the 

 margin which the interior buyers allow themselves appears to con- 

 stantly increase. 



In the case of Duncan, it will be noted that with the Galveston 

 quotation at 11 cents on October 25, the average street price was 

 10.55 cents, or 45" points below Galveston. Two weeks later when 

 the Galveston price had reached 12 cents, the average price in Dun- 

 can was 71 points below instead of 45. 



The dates of collection in Ryan are closely comparable with those 

 for Duncan and the figures are based on the average price of a 

 larger number of bales. They show a similar tendency, though not 

 quite so marked. 



The comparison for Norman is carried up to November 15. By 

 this time the Galveston quotation reached 12.13 cents, and the differ- 

 ence was five times as great as on October 25. 



