MARKETING HAY THROUGH TERMINAL MARKETS. 51 



orders constitute an important part of the business of most whole- 

 salers in southern markets. Retailers sell mostly in small quantities 

 to consumers. 



In those sections where tagged weights are used the hay is sold on 

 the weights indicated on the tags. The advantage to the dealers of 

 using these weights is that it eliminates any loss from shrinkage or 

 handling because they sell the hay by the same weight by which they 

 buy it and any loss is thus passed to the consumer. 



In many distributing markets all hay is weighed as it is sold. By 

 this method the consumer gets what he pays for but the dealer, to 

 cover the loss caused by handling, etc., must charge slightly more for 

 his hay. In a few places hay is still retailed by the bale, the dealer 

 basing the price per bale on the average weight of the bales as indi- 

 cated by his invoice for the car. Unless the weight of the bales is 

 uniform this method is an unsatisfactory one to the purchaser. 



GRADES. 



In retailing only a few grade terms are used. Hay is almost always 

 sold as No. 1 or good hay. If the dealer has some mixed hay the 

 amount of the mixture is usually stated. In some instances the use 

 for which the hay is best suited is stated when describing the char- 

 acter, for example, " Good rabbit hay," " Choice dairy alfalfa," or 

 " Good sheep hay." When the hay offered is not considered first 

 class it is usually not given a grade designation but the dealers de- 

 scribe it as " good feeding hay, just a little ripe," or " No. 1 hay con- 

 taining just a few weeds," or possibly " good hay that is a little 

 dark," etc. In general very few consumers have any conception of the 

 quality represented by any grade terms other than Choice and No. 1 

 hay and these terms are, therefore, used with such modifications as 

 have been mentioned. 



TERMS OF SETTLEMENT. 



No sight or arrival drafts are used by retailers and the time of 

 settlement depends on the character of business done. Some dealers 

 sell for cash only, others allow 30 days' credit, and still others allow 

 accounts to run as long as a year. In dairy sections the time of 

 settlement is frequently made to coincide with the date upon which 

 the dairymen receive pay for their products, which may be once a 

 month. In the South settlement for the whole season is commonly 

 made when farmers market their cotton. It will be seen that no 

 single method of settlement is used throughout consuming sections, 

 but that that method is used which is best suited to local conditions. 



