PRIMARY COTTON MARKET CONDITIONS IN OKLAHOMA. 7 
The entries in this table are made in order of date, and it will 
be noted that some towns appear more than once. This occurs when 
the samplings on different dates each happened to include 4 or 
more bales of middling. In each case it will be noted that the 
difference between the average price of the bales sampled by us and 
the Galveston price is by no means similar on different dates. Thus 
the difference between the average price of 7 middling bales sampled 
in Norman on October 25 and the closing Galveston price for October 
24 is $1.05 per bale. On October 30 the average price of 9 middling 
bales sampled at Norman is found to be $2.19 less than the corre- 
sponding Galveston price. On November 4 the average of 11 mid- 
dling bales was $3.10 below. On the same day 5 middling bales 
sampled in Terral were found to average within 69 cents of the 
Galveston quotations, but 5 days later, on November 9, the average 
price of 7 middling bales dropped to $3.18 below the Galveston value. 
At the end of another 5-day period, on November 14, the average of 
4 middling bales taken at random was within $1.17 per bale of the 
same port price. 
The most striking fact brought out by this table, however, is the 
extremely wide range in prices paid for bales of identical grade in 
the same markets on the same days. The fact should be borne in 
mind that there is every reason to believe that actual variations in 
price were much more pronounced than those here shown. In two 
cases only have we sampled more than 10 middling bales, and in 
most cases only 4 or 5. In many of these markets there were 
probably sold from 20 to 200 bales of middling cotton in a single 
da}-, and the chances are very remote that we happened in any 
particular case to secure data upon either the highest or the lowest 
price paid. It is with the utmost confidence, then, that we state that 
the range in price here shown is very much less than that which 
actually occurs for the same grade of cotton on the same day in 
most of the primary markets in Oklahoma. 
A glance at the table shows that this condition of widely varying 
prices paid for middling cotton is not localized, but occurs in every 
part of the State. The extreme variations shown in column 5, Table 
I, are : A difference of $6 between bale 1 and bale 4 at Erick, in Beck- 
ham County, on November 6, and a similar variation at Mountain 
Park, in Kiowa County, on November 18; these towns are both in 
the western section of the State ; but the difference of $5.60 between 
bale 1 and bale 4 at Bennington, in Bryan County, on November 13, 
and a variation of $4.38 between the price of 2 bales of middling in 
Caddo, also in Bryan County, on November 5, and of $4 at Arcadia, 
Oklahoma County, on November 11, show conclusively that similar 
conditions exist in the southeastern and central portions of the State. 
It will be observed that while 4 or more middling bales were sampled 
at Mountain Park on three different days, in no case was the range 
