INTRINSIC VALUES BASED ON DEY-MATTER CONTENT. 5 
unit and multiply it by the value of each 1 per cent of dry matter 
shown in the right-hand column in the table. 
Example.— If a bushel of No. 3 com testing 17.5 per cent in moisture is worth 80 
cents, what is the comparative value of a bushel of corn testing 26 per cent in moisture? 
Table XI shows comparative values for units containing from 12 to 
24 per cent of moisture content only, based on even money for a unit 
testing 17.5 per cent in moisture. Corn testing 26 per cent in mois- 
ture contains 74 per cent of dry matter and as each 1 per cent of 
dry matter is worth in this instance 0.9697 cents,. as is shown in the 
right-hand column of the table, the 74 per cent of dry matter is worth 
74 X 0.9697 cents, or 71.76 cents. Therefore, if a bushel of No. 3 
corn testing 17.5 per cent in moisture is worth 80 cents, the compara- 
tive intrinsic value of a bushel of corn testing 26 per cent in moisture 
is 71.76 cents. The comparative value of a unit testing lower in 
moisture than the minimum shown in the table may be determined 
in a similar manner. 
If it is desired to extend any one of Tables II to XII, inclusive, so 
as to ascertain the comparative value of any unit, the value of which 
is over $1.20 but less than $2.00, such value can be found by divid- 
ing the given value into two parts, one of which will be an even 
dollar and the other the fraction of the dollar, and finding the com- 
parative value for each. The comparative value for the whole will 
then be the sum of these two results. 
Example. — If a unit weight of grain, cottonseed, or flour testing 12 per cert in mois- 
ture is worth $1.90, what is the comparative value of a similar unit testing 16 per cent 
in moisture? 
Proceeding as explained above, it will be seen from Table IV 
that the comparative value for the $1 part will be 95.45 cents, and 
the comparative value for the 90-cent part will be 85.91 cents; there- 
fore, the comparative value for the whole will be (95.45 + 85.91 = 
181.36 cents) SI. 81. 
Similar results can be obtained by moving the decimal point one 
or two places to the left, as may be necessary, and considering the 
figures given in these tables as dollars and cents instead of cents 
and fractions of a cent. According to this method, it is seen in Table 
IV that by moving the decimal point one place to the left, 19 cents 
in the 12 per cent moisture column becomes $1.90, and the compara- 
tive value in the 16 per cent moisture column will be $1.81, which is 
the same result as that obtained by the first method. 
It will be noted in Tables II to XII, inclusive, that the difference in 
value for each 1 per cent of dry matter increases in direct propor- 
tion to the increase in the price, so that as the price of the product 
increases, the difference in value for each 1 per cent of dry matter 
or of moisture becomes of more material importance to the producer 
and consumer of the products under consideration. 
