PRIMARY MARKET PRICES AND QUALITIES OP COTTON. 3 



Table 1. — Average prices of cotton for each State, by months, for the same grade and staple. 



State. 



Strict 



Good 



Ordinary. 



Low 

 Mid- 

 dling. 



Strict 

 Low Mid- 

 dling. 



Mid- 

 dling. 



Strict 

 Mid- 

 dling. 



Good 

 Mid- 

 dling. 



Strict 



Good 



Middling. 



October. 



Cents. 

 13. 05 

 12.00 

 11.92 

 10.18 

 11.31 

 12.99 

 13.06 

 13.31 

 13.51 



11.56 

 11.21 

 10.91 

 9.88 

 9.95 

 12.06 

 12.31 

 12.42 

 12.45 



10.75 

 10.87 

 10.20 

 9.11 

 9.40 

 10.90 

 11.35 

 11.19 

 11.59 



Cents. 

 12.99 

 12.38 

 12.18 

 11.50 

 12.06 

 13.00 

 13.02 

 13.25 

 13.34 



12.07 

 11.73 

 10.86 

 10.48 

 11.02 

 12.44 

 12.41 

 12.85 

 12.94 



Cents. 

 13.33 

 12. 67 

 12.62 

 12.23 

 12.52 

 13.15 

 13.20 

 13.18 

 13.19 



12.26 

 11.83 

 11.21 

 10.88 

 11.56 

 12.38 

 12.86 

 12.97 

 12.98 



11.82 

 11.36 

 11.46 

 10.16 

 11.00 

 12.00 

 12.16 

 12.43 

 12.14 



Cents. 

 13.39 

 13.05 

 13.40 

 12.83 

 12.91 

 13.24 

 13.36 

 13.41 

 13.32 



12.36 

 12.17 

 11.76 

 11.35 

 11.91 

 13.18 

 13.14 

 13.16 

 12.96 



12.40 

 11.46 

 11.50 

 10.65 

 10.76 

 13.25 

 12.66 

 12.44 

 12.35 



Cents. 

 13.30 

 13.20 

 13.70 

 13.26 

 13.14 

 13.57 

 13.41 



Cents. 

 13.36 

 13.66 

 14.25 

 13.03 

 13.21 

 13.54 

 13.50 

 13.48 

 13.42 



12.80 

 13.22 



Cents. 

 13.32 





15.08 





13.91 





12.67 





13.36 





13.50 





13.58 





13.43 





13.39 



12.57 

 12.87 



13.47 



November. 



12.70 





13.40 





12.78 





12.04 

 12.16 

 13.25 

 13.27 



12.01 

 12.45 

 13.32 

 13.39 

 13.29 

 13.09 



12.30 

 12.58 

 13.38 

 11.31 

 12.63 

 13.15 

 12.86 

 12.71 

 12.54 



12.17 



Oklahoma 



11.68 





13.50 





13.43 





13.41 





13.02 



12.26 

 11.86 

 11.38 

 10.96 

 10.80 

 12 13 

 12.79 



13.34 



December. 



12.29 





10.89 

 10.51 

 9.09 

 9.75 

 11.13 

 11.66 

 12.10 

 12.02 



12.94 





13.00 









12.00 





13.13 





12.95 





13.00 





12.46 



12.49 







A close study of Table 1 should prove of interest. In a general way 

 this table indicates that the cotton was sold with some regard to 

 grade, for, with a few variations, the price advanced with the grade 

 up to Middling. But this was not true in all cases, for it will be seen 

 that for October in Alabama Strict Good Ordinary cotton averaged 

 13.51 and Strict Good Middling 13.47. While the latter grade sold 

 for 20 cents less per bale than the former, on basis of New Orleans 

 differences, it was actually worth $7.50 per bale more. Again, Low 

 Middling averaged 13.34, Strict Low Middling 13.19, and Middling 

 13.32; and in November Strict Low Middling averaged two points 

 higher than Middling. During the same month in South Carolina 

 Low Middling averaged 13.25 and Strict Low Middling 13.18. Strict 

 Low Middling was actually worth at least 25 points, or $1.25 per bale, 

 more than Low Middling. These variations are but a few of the many 

 instances that might be cited, and tend to prove either that the higher 

 grades are being priced too low or that the lower grades are bringing 

 prices above their value, or that a combination of the two is true. 



That the higher grades are not bringing their value is clearly shown 

 by an examination of Table 1, for it will be seen that practically no 

 grade above Middling commands a premium ; but in the lower grades, 

 Strict Good Ordinary to Middling, a gradual advance in price is 



