MARKETING HAY THROUGH TERMINAL MARKETS. 13 
fore has developed that the marketing of hay direct from country 
shipper to consumer is confined largely to shippers tributary to large 
consuming sections or markets, or to shippers or associations with a 
storage or a large volume of business well distributed throughout the 
year. 
The terms of sale depend somewhat on the method employed in 
making the sale. If the sale is by personal call or telephone, or even 
by letter, the terms respecting grades are usually more descriptive. 
Grade designations may not be mentioned, the sales being made 01^ 
description, using local terms, such as " good feeding hay," " half 
and half," " good dairy alfalfa," " choice barn hay," etc., both 
buyer and seller being familiar with the quality of the hay to which 
the various terms are applied in their section or market. 
Sales by letter may be made on the same trade terms ; but as sales 
by letter are usually made when the buyer and seller are located at 
more distant points, there may not be the same mutual understanding 
of local trade terms. It is therefore generally necessary to use more 
widely known terms, such as No. 1 timothy or No. 1 alfalfa. A de- 
scription of the hay, however,- is usually added in order that there 
may be the best understanding possible. 
In sale transactions by telegraph, brevity and the use of code words 
make it necessary to use grade designations only and both buyer and 
seller must have a definite idea as to the character of the hay repre- 
sented by the various grade designations. The lack of an understand- 
ing of such grade terms on the part of some consumers is probably 
partly responsible for their reluctance to buy hay in this manner. The 
telegraph is most satisfactory in transactions between those who 
have a thorough understanding of trade and grade terms and the 
market needs of the various sections. It can be used advantageously 
between dealers in markets or territories using the same grade stand- 
ards and trade rules. 
The advantages to the country shipper of selling his hay direct to 
the consumer may be summarized as follows : Better prices because of 
the elimination of intermediate handling costs, including commis- 
sions, inspection charges, etc. ; and less difficulty with grades because 
of the absence of technical grading and because of a better under- 
standing brought about by the use of terms descriptive of the char- 
acter of the hay. 
The disadvantages are : The difficulty and expense of obtaining and 
maintaining a good list of customers ; the difficulty of keeping supply 
and demand equalized ; and the losses caused by refusals and rejections 
for various reasons on the part of the buyers. 
Kejections are no doubt the cause of the greatest loss which the 
shipper is likely to encounter. Some buyers reject hay unfairly when 
conditions make it disadvantageous for them to accept it. Large 
