12 BULLETIN 267, U. S. DEPARTMENT OF AGRICULTURE. 



but must carry on all business in the name of his principal. Com- 

 modities handled by brokers, as a rule, are sold to car-lot whole- 

 salers or jobbers. 



At the beginning of each business day the broker looks over his 

 business, ascertains conditions on other markets, and takes note of 

 the number of cars he has on hand, number en route, etc. With all 

 this well in mind, he is ready to approach the wholesale trade. His 

 next step is to make a careful canvass of the wholesale district, visit- 

 ing or calling up by telephone all those who may be interested in 

 what he has to offer. When a possible customer is found, the next 

 step, in case the car or cars have arrived, is to allow the prospective 

 buyer to inspect the contents. After inspection, satisfactory terms 

 are arranged and then before the sale can be consummated it is nec- 

 essary that the shipper confirm the broker's action. Assuming that 

 the broker is selling a car of apples, Ganos and Grimes for instance, 

 he may telegraph the shipper as follows : 



Jones offers on car MO sixteen eight fifty-four, two fifty Ganos, two seventy- 

 five Grimes, delivered. 



In case this offer is satisfactory, the shipper's reply may read : 

 Confirm car MC sixteen eight fifty-four Jones, two fifty Ganos, two seventy- 

 five Grimes, delivered. 



Or in case the price is unsatisfactory, the shipper might refuse as 

 follows : 



Jones too low ; car MC sixteen eight fifty-four ; must have three Grimes. 



Collection is often made through a bank located at destination. 

 The shipper sends the bill of lading with draft attached to a bank, at 

 the time the car is shipped, and after inspection the purchaser pays 

 the draft and secures the bill of lading. Some large shipping organi- 

 zations whose responsibility is well known to railroad officials often 

 temporarily retain possession of the original bill of lading and effect 

 delivery by a signed delivery order somewhat as follows: 



Kansas City, Mo., Seirtembcr 21, 101'f. 

 Agent, Missouri Pacific Railroad Co. 



Dear Sir: Please deliver on this order without bill of lading car of apples 

 C. B. & Q. 36066 to John Jones, Kansas City. We pay all charges. 



The bill of lading is retained temporarily in this case, as evidence 

 of former ownership, or for use in case a dispute should arise later 

 or claim be entered. Tt is absolutely necessary to insert the clause 

 " We pay all charges," as in many cases railroads will refuse such de- 

 livery unless it is understood definitely which party pays the freight. 



broker's settlements. 



Sales by brokers are, as a. rule, strictly cash transactions and col- 

 lection is made when delivery is offered. All cartage expenses in get- 



