28 AMERICAN" EXPORT CORN ( MAIZE ) IN EUROPE. 
the relative prices that should he obtainable for American corn, as 
compared with the prices obtainable for corn from other exporting 
countries under equal and normal market conditions, provided the 
American corn was delivered in Europe in equally good condition as 
that from other countries. 
In Great Britain the consensus of opinion as expressed was that 
American corn would hring at least 1 shilling per quarter (equal to 2.8 
cents per bushel) more, although some merchants maintained that it 
would be worth from H to 2 shillings per quarter more: while in 
France, Germany, and the Netherlands the invariable answer was 
that American corn under such conditions would command at least 
5 percent higher prices than the corn from Argentina and most other 
corn-exporting countries. 
LONDON CORN" (.MAIZE) PRICES. 
Observations from time to time during the past several years of the 
various European market reports have indicated that the prices quoted 
for American corn upon those markets were often lower and fluctuated 
at times to a greater degree than seemed reasonable or than was the 
case with the prices quoted for corn from most other corn-exporting 
countries. 
Table XI shows, in addition to the average of the monthly prices 
quoted for ' ' No. 2 Corn" at Chicago in cents per bushel, the average of 
the prices (ex granary) for American corn, compared with the average 
of the prices for corn from other exporting countries quoted "off stands," 
Mark Lane, London, as reported each Monday by the Mark Lane Ex- 
press in shillings and pence per quarter of 480 pounds of corn, for a 
period of six years, extending from July 1, 1902, to June 30, 1908, 
these quotations being reduced to equivalents in cents per bushel. 
The Chicago prices shown in the table are based upon the average of 
the high and low prices for each month, and the London prices arc 
based upon the average of the high and low prices for each week as 
quoted. That is to say, that the prices shown were obtained by aver- 
aging the highest price and the lowest price quoted for the period in 
each case. In the London prices quoted the range for any one week 
in the prices for the corn of any individual country seldom exceeded 
1 shilling per quarter, but the range was more often 6 pence to 1 shil- 
ling per quarter. 
This method does not, of course, give the average prices obtained 
or that were obtainable as considered from the standpoint of the num- 
ber of bushels bought or sold, but so far as data are available it shows 
the average of values per unit of measure for the indicated limited 
periods, and the prices shown are comparable upon that basis only. 
The table is divided into periods of three months, the ""lumber of 
weeks the corn of the various countries was quoted as being on the 
[Clr. 55] a 
