14 
BULLETIN 36, U. S. DEPARTMENT OF AGRICULTURE. 
Table VI. — Actual differences 'between prices paid for various grades of cotton 
in certain markets on certain dates with the differences which would have 
been paid if published difference sheets had been applied. 
Date. 
Place. 
Number 
of bales 
sampled. 
Highest 
grade. 
Lowest 
grade. 
Difference 
in cents 
per pound 
actually 
paid." 
Published 
difference- 
sheet 
difference. 1 
1912. 
Oct. 26 
Cordell 
9 
10 
10 
12 
14 
11 
12 
23 
7 
17 
10 
12 
23 
10 
6 
10 
M 
S. L. M. 
spot. 
M 
M 
S.L.M... 
S.L.M... 
S.L.M... 
S.L.M... 
S. G.O... 
L.M 
L.M 
L.M 
L.M 
G.O 
M. tinrre... 
l.m.;.... 
S. G. O. 
stain. 
0.50 
.10 
.215 
.375 
.30 
.50 
.20 
1.90 
.85 
1.00 
.50 
1.25 
.25 
. 75 
1.50 
3.90 
0.625 
26 
Holdenville 
G.M 
G.M 
G.M 
G.M 
G.M 
S. G.M... 
G.M 
M 
.25 
26 
Eufaula 
.25 
29 
Erick 
.625 
29 
Duncan 
30 
Caddo 
.625 
30 
Bvars 
.25 
Nov. 9 
Okemah 
2.25 
11 
Hobart .. 
1.25 
11 
Wellston 
G.M 
S.M 
G.M 
G.M 
S.M 
G.M 
M . 
1.25 
12 
Frederick 
1. 375 
14 
Davis 
1.625 
20 
3.00 
Dec. 18 
Waurika 
.8125 
19 
Sentinel 
1. 625 
21 
6.00 
i A point in cotton is ^ of a cent per pound. Hence a difference of 25 points, or \ cent, amounts to 
$1.25 per 500-pound bale. 
Table VII brings out the fact that in nearly every case where the 
actual range in price is wider than the difference sheet would justify 
the range in actual grade is but slight. In no case does the range 
cover more than three grades, and in no case does it include any- 
thing lower than strict low middling. This shows that when the 
cotton is fairly uniform and very little of it is actually below mid- 
dling there is a tendency to buy a certain proportion of it below its 
actual grade. In other words, there is a disposition to assume that 
the average cotton on the street is about middling and that conse- 
quently some bales, not quite equal to the best, must be below mid- 
dling, and the farmer's ignorance of grading renders him practically 
defenseless except as competition among buyers may help him out. 
Table VII. — Certain towns in which on certain dates the differences in prices 
paid exceeded the published differences. 
Place. 
Date. 
Number 
of bales 
sampled. 
Highest 
grade. 
Lowest 
grade. 
Difference 
in cents 
per pound 
actually 
paid. 
Published 
difference- 
sheet 
difference. 
Purcell 
1912. 
Oct. 28 
Oct. 28 
Oct. 29 
Nov. 7 
Nov. 16 
Nov. 23 
Nov. 27 
12 
10 
12 
11 
8 
17 
S. G. M... 
S.M 
G.M 
G.M 
S.M 
M 
S.M 
M 
0.275 
.25 
.20 
.50 
.70 
.75 
.75 
0.125 
.125 
S.M 
M 
.125 
.25 
S.L.M... 
S.L.M... 
S.L.M... 
.50 
.375 
S.M 
.5625 
In order to emphasize the facts shown in Tables VI and VII and 
to show to what extent the difference sheets influence the prices paid 
