20 BULLETIN 1019, U. S. DEPARTMENT OF ei aa 
On busy days buyers are every one in evidence, passing around 
- from wagon to wagon cen ne the bales and frequently examining” 
the corn by sampling or “ pulling” the brush. Usually each buyer: 
has some particular kind in mind that he is especially anxious to 
obtain to fill certain orders he may have, or, if he is buying for 
speculation, because of a known shortage of a certain kind. . For |} 
example, a buyer may have an order to purchase a carload of “good 
medium-grade brush running strong to hurl” or a car of “ fancy 
hurl” and may examine perhaps a dozen or more loads before finding _| 
what he wants. If it is not on the market, he may make conserva- 
tive bids on crops not especially desired, but which he would pur- 
chase if he could obtain them cheaply oreuele : 
When a dealer desires to bid on a certain lot of broom corn, : is 
common practice to ask the owner what offer he has had on it, and | 
the information usually is obtained. The dealer then will probably — 
make an offer. If the farmer thinks that it is as much as he will be 
_ able to obtain he may sell, but more often he waits for other bids, 
particularly if it is early in the day or his broom corn is of especially 
good quality. An offer made by a buyer is considered binding for 
the day unless it is indicated that the bid shall not “stand,” but. 
markets differ in this respect, the practice in any one market govern- 
ing no other. Ifa bid is raised, it is usually by $5 a ton. q 
Farmers as a rule have little idea what their broom corn will — 
bring when they haul it to market except as they are able to judge © 
from the sales being made or from what their neighbors may have 
received. The sale price depends entirely upon what a buyer is — 
willing to give. Buyers, while better informed on conditions, usu- — 
ally have no definite information on the value of broom corn. The 
dealers who buy on a commission basis are guided by prevailing sales — 
and by specific orders they may have to fill for manufacturers, and ~ 
they make bids accordingly. These orders frequently specify “ Buy 
at the best possible price,” or “ Buy at not to exceed so many dollars © 
per ton.” It is quite natural in such instances that in order to hold — 
future business they purchase as cheaply as competition will allow. 
Buyers,sent out by manufacturers-usually are not restricted as to © 
price, but, like the commission dealer, try to purchase as cheaply — 
as possible. It is natural to conclude, therefore, that a glutted market —* 
ripens the opportunity for dealers to beat down prices, while if there 
are but few offerings of a dependable grade these will meet with 
ready sale at a possible advance in price: Eg 
The broom corn offered on a street market, like grain and other | 
farm products, is for cash, and settlement is effected in full at the 
time of sale. Sometimes a crop may be bought and payment deferred — 
until all is delivered, but this is done ay as a matter of convenience — 
between buyer and seller. 3 
