THE MARKETING OF MILL FEEDS. 5 
It often happens that shippers are advised, either by telephone or 
telegram, that a certain price per ton can be realized for their 
shipment, and after obtaining consent to sell at that price the ship- 
ment is immediately sold at a higher quotation. The shipper may or 
may not receive more than the price which he had said would be 
satisfactory to him. Frequently he does not. This practice, while 
not general, unfortunately is indulged in with too great frequency, 
and steps should be taken by the trade and exchanges to abolish it, 
because it is inimical to their interests and those of bona fide dealers. 
Sales to self-owned concerns or those in which the commission man 
may have an interest, or concerns solely established for the purpose 
of having shipments booked to them temporarily, at prices not fully 
representing prevailing market values, with the intent to sell im- 
mediately at higher prices, should not be permitted. 
The handling of wheat feeds in distributing markets. — Jobbers 
in distributing markets differ from jobbers in producing markets in 
their methods of handling wheat feeds. The latter, while they 
have the option of placing shipments in transit unsold when tender is 
made by mills on contract, do not follow this method to the same 
extent as jobbers in the heavy consuming sections. They generally 
prefer to make sales through brokers or direct to jobbers in dis- 
tributing markets in principal dairy sections. 
A large volume of the business of jobbers or wholesale dealers 
in distributing markets is done " on rails." When it becomes neces- 
sary for the jobber or wholesale dealer to furnish billing instruc- 
tions for the stuff he has contracted, and transit offerings are heavv, 
he will, particularly during times of light demand, order shipments 
direct to destination according to his open orders on file. 
If he has no open orders on file he has the option of reselling to 
another jobber, of placing the feed in storage, or of placing the ship- 
ment in transit to be held at a designated point for orders. 
In the more important feed-consuming sections facilities are ex- 
tended by the railroad companies whereby shipments may be billed 
to so-called holding or diversion points, from which shipments may 
be reconsigned at the through freight rate. A diversion charge is 
assessed for this privilege and demurrage charges are assessed if the 
car is held beyond the free-time period. 
If the jobber, therefore, has no open orders on file, he often orders 
his shipments to such holding points with the view of disposing of 
them prior to their arrival at such points. He may select a holding 
point close to the point of shipment or one located in the section 
in which the bulk of his business is transacted, depending upon 
prevailing conditions. 
In the selection of the holding point the jobber is not restricted 
to one located in the territory as indicated by the rate-basing point 
shown on the contract and on which basis the sale was consummated. 
In the northeastern section, for instance, it is a well-established rule 
that in all delivered sales to any of the following trunk-line terminal 
points — Boston, New York, Philadelphia, and Baltimore — the point 
specified shall be considered as a rate basis only and not necessarily 
the final destination of the goods, and that shipment shall be made to 
any point and via any line open for business in the eastern trunk 
line territory designated by the buyer which is reached by lake or 
