390 FIELD CROP PRODUCTION 



commission man is able to earn depends, therefore, upon 

 the volume of his business. 



Country elevators usually sell their grain through com- 

 mission men. Line elevator companies who sell in large 

 amounts may make their sales through a member of the 

 firm who is a member of the exchange. Millers usually 

 purchase their supply of grain either direct from large 

 country elevators or through a commission man on the 

 floor of the exchange at the terminal market. 



416. Kinds of contracts. — There are three kinds of 

 contracts for straight sales on the floor of most grain 

 exchanges. The " to arrive " contract, which is made 

 largely with country elevators, is that made with the 

 understanding that the grain vri\l arrive \\dthin 15 days 

 from the date of the transaction. The " to arrive " 

 contract is the usual method of selling carload lots, 

 although line elevators often do not sell each car sepa- 

 rately, sometimes selling " round lots to arrive," which 

 may mean from 10 to 100 thousand bushels. Country 

 dealers, when a car of gram is started on its way to the 

 terminal market, wire or write their representative to sell 

 for them " to arrive " a stipulated amount of a certain 

 grade of grain. Sometimes the country dealer has reason 

 to believe that the price of grain may advance by the time 

 the car reaches its destination, in which case the com- 

 mission man is instructed to sell " on track." This 

 means that the grain at the time of the sale is in the rail- 

 road yards of the terminal market. Delivery is made by 

 giving to the purchaser the bill of lading. If upon arrival 

 of the grain at the terminal market the couiatry dealer 

 desires to await a more favorable market, the grain may 

 be stored in one of the terminal elevators, for which a 

 storage charge is made. In almost all states all public 



