368 
The American Cattle Trade. 
during the last three years the average price, wholesale, per 
pound, has ranged from 6(/. down to A\d. per lb., and up to 
5f (/. again, for beef of the same quality at the same market, 
there has, during this period, been no perceptible change in 
retail prices. It is often remarked that the butchers and retail 
dealers in our cities and large towns are the most prosperous 
of the business men, and amass fortunes rapidly. 
The foregoing sketch shows eight different owners, besides 
three brokers, who each sell the animal or its beef at a profit 
before it reaches the consumer in New York. The figures 
given accord with the facts as to steers of the kind described, 
during the average seasons of several years past, although higher 
all the way along than quoted for 1876. Yet it will be noticed 
that the profits are very large at all points. The drover who 
bought of the " ranche-men," and sold in Kansas, made the least, 
proportionately, about 8 per cent, for four months' time and 
capital ; but this driving and sale is as likely to be done by the 
stock-raisers themselves, or their employes, as by a middle-man 
as above supposed. The dealer who bought in Kansas and sold 
in Chicago, made 11., or more, being nearly 20 per cent, on a 
transaction which might be repeated monthly, at least. The 
prairie farmer's profits for feeding, which were reckoned at 
56s., or 25 per cent, on the capital, occupied a year, practically. 
The shipper from Chicago to New York shall be taken at the 
lowest estimate, 16s. profit, being 6 per cent., and he, constantly 
engaged in this business, can " turn " his capital in this way 
twenty times a year. (I stop at this point, without tracing the 
profits in slaughtering and selling, because it is in the yards 
that the exporters buy, and this subject will be considered with 
ultimate reference to their trade.) Here are aggregate profits of 
4/. 16s., or one-third of the 14/. 16s. at which the animal was 
sold at the New York yards. 
Just so much as the profits of these middle-men can be cur- 
tailed, and the expenses of transportation economised, can the 
selling price of the bullock be reduced in New York. Leaving 
freights at the rates cited, but reducing the several items of 
profit enumerated about one-half (which is plainly possible), 
it is evident that such beeves can be placed in New York at 
12/., instead of 14/. 16s., and still allow ample gains to all con- 
cerned. This makes it possible for such beef to be sold in 
New York at A^d. per lb. instead of 5^d., as supposed in the 
case taken. And, in fact, the average price of this grade in 
that market during the last nine months has been bd. per lb., 
although, as late as July 15th, it was 5~eZ. per lb. 
But this still supposes that the steer necessarily cost 72s. on 
its Texan range, whereas it is certain that bullocks of 1000 lbs. 
