═════════╤══════╤══════╤══════╤══════╤══_Agricultural prices

│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.

─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────

│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $

January │ .541│ .845│ .506│ .684│ .497│ .706│ 1.473│ 1.210│ 1.161│ 1.786

February │ .551│ .944│ .531│ .697│ .504│ .880│ 1.724│ 1.229│ 1.144│

March │ .553│ 1.020│ .520│ .707│ .504│ .944│ 2.407│ 1.203│ 1.094│

April │ .555│ 1.171│ .503│ .700│ .478│ .976│ 2.347│ .926│ 1.054│

May │ .625│ 1.273│ .482│ .714│ .505│ .948│ 2.796│ .801│ 1.189│

June │ .633│ 1.197│ .552│ .713│ .508│ .988│ 2.740│ .755│ 1.214│

July │ .963│ 1.036│ .498│ .815│ .521│ 1.023│ 2.479│ .949│ 1.284│

August │ 1.360│ .865│ .692│ .871│ .563│ .954│ 1.708│ 1.416│ 1.928│

September│ 1.137│ .650│ .753│ .749│ .505│ 1.093│ 1.391│ 1.488│ 1.875│

October │ .883│ .511│ .739│ .647│ .488│ 1.120│ 1.221│ 1.436│ 1.642│

November │ .763│ .455│ .696│ .528│ .608│ 1.357│ 1.278│ 1.272│ 1.528│

December │ .799│ .505│ .687│ .487│ .617│ 1.461│ 1.228│ 1.192│ 1.614│

─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────

RETAIL PRICES OF SIRLOIN.

(Per pound—fifteenth of each month.)

═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════

│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.

│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $

January │ .202│ .207│ .238│ .250│ .253│ .256│ .276│ .326│ .410│ .405

February │ .202│ .207│ .238│ .250│ .248│ .256│ .286│ .331│ .410│

March │ .202│ .213│ .245│ .253│ .245│ .263│ .293│ .336│ .417│

April │ .202│ .220│ .256│ .253│ .250│ .268│ .316│ .364│ .435│

May │ .204│ .235│ .256│ .258│ .256│ .276│ .321│ .397│ .443│

June │ .204│ .240│ .258│ .261│ .261│ .286│ .326│ .425│ .430│

July │ .207│ .243│ .263│ .268│ .266│ .286│ .326│ .420│ .433│

August │ .207│ .245│ .263│ .278│ .263│ .283│ .329│ .412│ .420│

September│ .204│ .243│ .261│ .271│ .263│ .281│ .331│ .415│ .409│

October │ .202│ .240│ .256│ .261│ .261│ .273│ .329│ .407│ .398│

November │ .202│ .235│ .253│ .253│ .256│ .268│ .314│ .402│ .393│

December │ .202│ .233│ .250│ .256│ .250│ .268│ .319│ .402│ .391│

RETAIL PRICES OF ROUND STEAK.

(Per pound—fifteenth of each month.)

│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.

│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $

January │ .172│ .177│ .203│ .225│ .225│ .225│ .245│ .303│ .387│ .370

February │ .172│ .177│ .206│ .225│ .221│ .225│ .259│ .312│ .385│

March │ .175│ .179│ .212│ .228│ .219│ .230│ .263│ .316│ .391│

April │ .175│ .188│ .219│ .228│ .221│ .239│ .287│ .343│ .402│

May │ .175│ .201│ .221│ .232│ .228│ .248│ .294│ .376│ .413│

June │ .177│ .206│ .223│ .234│ .232│ .259│ .298│ .402│ .400│

July │ .177│ .206│ .230│ .241│ .236│ .256│ .303│ .400│ .404│

August │ .177│ .210│ .230│ .250│ .236│ .254│ .305│ .393│ .391│

September│ .170│ .206│ .230│ .243│ .234│ .254│ .294│ .393│ .379│

October │ .175│ .203│ .230│ .236│ .230│ .245│ .305│ .387│ .369│

November │ .172│ .199│ .225│ .232│ .225│ .239│ .294│ .382│ .362│

December │ .172│ .199│ .223│ .228│ .223│ .236│ .296│ .378│ .359│

RETAIL PRICES OF RIB ROASTS.

(Per pound—fifteenth of each month.)

│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.

│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $

January │ .166│ .168│ .188│ .198│ .200│ .200│ .216│ .257│ .327│ .314

February │ .168│ .170│ .188│ .200│ .198│ .202│ .226│ .263│ .327│

March │ .168│ .172│ .194│ .200│ .196│ .206│ .234│ .267│ .335│

April │ .170│ .180│ .200│ .202│ .198│ .210│ .251│ .293│ .347│

May │ .168│ .192│ .200│ .202│ .200│ .218│ .257│ .319│ .352│

June │ .168│ .196│ .202│ .204│ .204│ .224│ .261│ .335│ .339│

July │ .168│ .194│ .202│ .208│ .206│ .222│ .257│ .333│ .325│

August │ .168│ .196│ .202│ .214│ .206│ .220│ .255│ .327│ .312│

September│ .168│ .192│ .200│ .208│ .204│ .218│ .259│ .327│ .312│

October │ .168│ .190│ .200│ .206│ .202│ .214│ .257│ .323│ .306│

November │ .166│ .188│ .198│ .204│ .200│ .210│ .251│ .321│ .302│

December │ .166│ .184│ .198│ .200│ .198│ .210│ .253│ .319│ .303│

RETAIL PRICES OF PORK CHOPS.

(Per pound—fifteenth of each month.)

│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.

│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $

January │ .184│ .171│ .188│ .209│ .186│ .188│ .238│ .344│ .407│ .373

February │ .181│ .162│ .190│ .211│ .179│ .194│ .264│ .338│ .380│

March │ .181│ .173│ .205│ .211│ .179│ .219│ .281│ .340│ .388│

April │ .175│ .192│ .217│ .217│ .198│ .226│ .308│ .359│ .416│

May │ .175│ .194│ .211│ .224│ .209│ .230│ .308│ .369│ .433│

June │ .175│ .192│ .209│ .217│ .207│ .232│ .312│ .377│ .426│

July │ .179│ .194│ .217│ .224│ .211│ .234│ .319│ .380│ .464│

August │ .190│ .211│ .219│ .251│ .217│ .245│ .346│ .424│ .471│

September│ .192│ .222│ .228│ .238│ .226│ .264│ .390│ .464│ .460│

October │ .188│ .222│ .226│ .232│ .232│ .249│ .390│ .456│ .443│

November │ .169│ .196│ .215│ .219│ .209│ .234│ .348│ .435│ .421│

December │ .162│ .181│ .205│ .196│ .184│ .224│ .340│ .416│ .381│

RETAIL PRICES OF BACON.

(Per pound—fifteenth of each month.)

│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.

│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $

January │ .257│ .235│ .257│ .268│ .276│ .276│ .300│ .491│ .592│ .504

February │ .254│ .232│ .259│ .268│ .270│ .276│ .311│ .489│ .560│

March │ .251│ .232│ .265│ .270│ .268│ .281│ .336│ .494│ .554│

April │ .248│ .240│ .270│ .270│ .268│ .284│ .385│ .500│ .579│

May │ .248│ .243│ .273│ .270│ .268│ .287│ .423│ .511│ .573│

June │ .248│ .246│ .276│ .273│ .270│ .292│ .431│ .521│ .579│

July │ .251│ .246│ .284│ .276│ .273│ .292│ .434│ .530│ .587│

August │ .254│ .248│ .287│ .292│ .273│ .295│ .437│ .546│ .584│

September│ .251│ .257│ .284│ .295│ .273│ .300│ .448│ .568│ .556│

October │ .248│ .265│ .281│ .289│ .276│ .300│ .486│ .584│ .528│

November │ .240│ .265│ .276│ .284│ .276│ .303│ .489│ .590│ .510│

December │ .238│ .262│ .270│ .281│ .276│ .300│ .494│ .592│ .503│

RETAIL PRICES OF HAM.

(Per pound—fifteenth of each month.)

│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.

│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $

January │ .236│ .231│ .247│ .260│ .261│ .269│ .303│ .431│ .529│ .503

February │ .236│ .229│ .250│ .263│ .255│ .271│ .314│ .434│ .513│

March │ .234│ .229│ .258│ .263│ .253│ .277│ .333│ .436│ .508│

April │ .234│ .237│ .263│ .263│ .250│ .285│ .362│ .442│ .524│

May │ .234│ .239│ .263│ .263│ .253│ .290│ .383│ .452│ .524│

June │ .239│ .242│ .271│ .266│ .258│ .293│ .386│ .460│ .545│

July │ .245│ .245│ .277│ .274│ .261│ .295│ .391│ .481│ .561│

August │ .247│ .245│ .282│ .287│ .261│ .295│ .391│ .479│ .564│

September│ .245│ .247│ .277│ .287│ .258│ .303│ .404│ .513│ .552│

October │ .239│ .250│ .271│ .279│ .263│ .303│ .423│ .513│ .524│

November │ .234│ .250│ .266│ .271│ .266│ .303│ .423│ .519│ .505│

December │ .231│ .247│ .263│ .266│ .266│ .303│ .428│ .527│ .499│

RETAIL PRICES OF LARD.

(Per pound—fifteenth of each month.)

│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.

│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $

January │ .155│ .136│ .153│ .158│ .153│ .147│ .215│ .329│ .333│ .340

February │ .155│ .136│ .155│ .156│ .153│ .149│ .218│ .330│ .321│

March │ .145│ .136│ .156│ .156│ .152│ .152│ .239│ .332│ .333│

April │ .139│ .141│ .158│ .156│ .152│ .158│ .264│ .330│ .352│

May │ .136│ .147│ .158│ .155│ .152│ .167│ .278│ .329│ .389│

June │ .134│ .149│ .158│ .153│ .150│ .171│ .280│ .325│ .401│

July │ .133│ .149│ .160│ .153│ .147│ .174│ .275│ .325│ .420│

August │ .134│ .150│ .161│ .156│ .141│ .175│ .278│ .330│ .420│

September│ .137│ .155│ .161│ .156│ .139│ .186│ .297│ .337│ .382│

October │ .137│ .160│ .160│ .155│ .144│ .194│ .313│ .341│ .361│

November │ .137│ .160│ .160│ .156│ .145│ .213│ .327│ .341│ .364│

December │ .136│ .158│ .198│ .153│ .145│ .216│ .333│ .341│ .349│

RETAIL PRICES OF WHEAT FLOUR.

(Per eighth barrel—fifteenth of each month.)

│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.

│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $

January │ .835│ .827│ .803│ .787│ .996│ .964│ 1.373│ 1.614│ 1.606│ 1.968

February │ .819│ .835│ .803│ .795│ 1.108│ 1.004│ 1.373│ 1.614│ 1.630│

March │ .811│ .835│ .803│ .795│ 1.092│ .964│ 1.397│ 1.614│ 1.554│

April │ .803│ .843│ .803│ .795│ 1.100│ .956│ 1.654│ 1.614│ 1.751│

May │ .803│ .875│ .811│ .795│ 1.116│ .956│ 2.136│ 1.614│ 1.823│

June │ .803│ .883│ .811│ .795│ 1.044│ .940│ 1.975│ 1.630│ 1.823│

July │ .803│ .875│ .811│ .787│ 1.004│ .931│ 1.767│ 1.630│ 1.823│

August │ .811│ .859│ .803│ .851│ .996│ 1.076│ 1.839│ 1.654│ 1.799│

September│ .811│ .843│ .803│ .907│ .940│ 1.188│ 1.791│ 1.654│ 1.775│

October │ .827│ .827│ .795│ .891│ .907│ 1.245│ 1.718│ 1.630│ 1.775│

November │ .827│ .819│ .795│ .899│ .907│ 1.397│ 1.670│ 1.630│ 1.799│

December │ .827│ .803│ .795│ .907│ .915│ 1.341│ 1.646│ 1.630│ 1.871│

RETAIL PRICES OF CORN MEAL.

(Per pound—fifteenth of each month.)

│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.

│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $

January │ .270│ .284│ .287│ .302│ .316│ .310│ .383│ .676│ .600│ .660

February │ .270│ .284│ .284│ .299│ .319│ .313│ .394│ .676│ .580│

March │ .267│ .284│ .284│ .299│ .319│ .310│ .397│ .696│ .574│

April │ .270│ .290│ .284│ .299│ .316│ .313│ .447│ .687│ .580│

May │ .270│ .299│ .284│ .299│ .316│ .313│ .516│ .676│ .600│

June │ .270│ .302│ .284│ .299│ .316│ .313│ .528│ .647│ .609│

July │ .273│ .302│ .284│ .299│ .313│ .313│ .566│ .637│ .629│

August │ .276│ .302│ .290│ .305│ .313│ .319│ .635│ .658│ .638│

September│ .278│ .302│ .296│ .316│ .313│ .328│ .789│ .667│ .670│

October │ .281│ .305│ .299│ .316│ .313│ .339│ .673│ .658│ .660│

November │ .281│ .299│ .302│ .316│ .310│ .365│ .682│ .629│ .660│

December │ .281│ .290│ .302│ .310│ .310│ .380│ .682│ .618│ .660│

RETAIL PRICES OF EGGS.

(Per dozen—fifteenth of each month.)

│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.

│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $

January │ .398│ .429│ .365│ .425│ .436│ .415│ .534│ .659│ .737│

February │ .316│ .392│ .309│ .358│ .331│ .341│ .496│ .598│ .497│

March │ .267│ .269│ .259│ .303│ .246│ .277│ .341│ .432│ .473│

April │ .243│ .258│ .247│ .250│ .253│ .267│ .378│ .415│ .483│

May │ .239│ .253│ .258│ .262│ .256│ .277│ .392│ .415│ .521│

June │ .242│ .259│ .273│ .276│ .263│ .294│ .402│ .415│ .524│

July │ .261│ .278│ .292│ .296│ .273│ .314│ .412│ .479│ .554│

August │ .286│ .303│ .323│ .326│ .297│ .354│ .452│ .523│ .588│

September│ .317│ .341│ .368│ .361│ .341│ .405│ .513│ .574│ .619│

October │ .355│ .382│ .408│ .381│ .395│ .446│ .540│ .628│ .706│

November │ .426│ .439│ .486│ .442│ .449│ .503│ .587│ .727│ .794│

December │ .443│ .412│ .466│ .469│ .456│ .520│ .621│ .794│ │

RETAIL PRICES OF BUTTER.

(Per pound—fifteenth of each month.)

│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.

│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $

January │ .365│ .431│ .411│ .400│ .388│ .386│ .454│ .569│ .708│

February │ .343│ .400│ .415│ .360│ .377│ .381│ .469│ .581│ .574│

March │ .330│ .371│ .415│ .352│ .361│ .404│ .465│ .554│ .670│

April │ .303│ .378│ .408│ .331│ .361│ .415│ .512│ .508│ .716│

May │ .296│ .367│ .361│ .328│ .350│ .373│ .469│ .512│ .681│

June │ .298│ .340│ .353│ .337│ .346│ .365│ .473│ .512│ .635│

July │ .308│ .338│ .350│ .343│ .346│ .358│ .462│ .527│ .631│

August │ .328│ .342│ .356│ .363│ .338│ .365│ .477│ .542│ .643│

September│ .360│ .379│ .379│ .379│ .338│ .392│ .496│ .596│ .662│

October │ .359│ .377│ .384│ .378│ .354│ .419│ .512│ .654│ .716│

November │ .385│ .392│ .388│ .396│ .365│ .438│ .531│ .670│ .758│

December │ .411│ .415│ .400│ .396│ .388│ .454│ .546│ .731│ │

RETAIL PRICES OF MILK.

(Per quart—fifteenth of each month.)

│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.

│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $

January │ .088│ .088│ .091│ .092│ .091│ .091│ .102│ .137│ .160│

February │ .088│ .088│ .091│ .092│ .091│ .091│ .102│ .137│ .158│

March │ .088│ .088│ .091│ .092│ .090│ .091│ .102│ .137│ .151│

April │ .087│ .088│ .090│ .091│ .090│ .090│ .104│ .135│ .154│

May │ .085│ .088│ .090│ .091│ .090│ .090│ .107│ .135│ .152│

June │ .085│ .088│ .090│ .090│ .090│ .090│ .108│ .132│ .154│

July │ .085│ .088│ .090│ .090│ .090│ .091│ .114│ .136│ .154│

August │ .085│ .088│ .090│ .091│ .090│ .091│ .117│ .140│ .159│

September│ .086│ .088│ .091│ .091│ .090│ .092│ .120│ .146│ .160│

October │ .087│ .090│ .091│ .091│ .091│ .095│ .130│ .151│ .164│

November │ .088│ .091│ .092│ .091│ .091│ .099│ .131│ .158│ .167│

December │ .088│ .091│ .092│ .091│ .091│ .101│ .134│ .160│ │

RETAIL PRICES OF POTATOES.

(Per peck—fifteenth of each month.)

│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.

│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $

January │ .259│ .378│ .236│ .280│ .220│ .352│ .583│ .486│ .487│

February │ .259│ .393│ .234│ .280│ .218│ .365│ .492│ .486│ .471│

March │ .259│ .422│ .228│ .277│ .212│ .363│ .769│ .380│ .443│

April │ .275│ .468│ .226│ .272│ .222│ .332│ .878│ .334│ .471│

May │ .313│ .438│ .237│ .290│ .230│ .363│ .912│ .334│ .502│

June │ .427│ .438│ .269│ .341│ .256│ .433│ .948│ .442│ .580│

July │ .510│ .329│ .285│ .401│ .220│ .347│ .637│ .593│ .730│

August │ .420│ .287│ .282│ .287│ .212│ .365│ .534│ .593│ .761│

September│ .357│ .246│ .285│ .271│ .204│ .417│ .445│ .593│ .655│

October │ .311│ .235│ .274│ .230│ .243│ .427│ .461│ .534│ .580│

November │ .318│ .232│ .277│ .214│ .251│ .513│ .474│ .502│ .593│

December │ .339│ .259│ .275│ .217│ .275│ .513│ .461│ .487│ │

│ │ │ │ │ │ │ │ │ │

Jan. │ │ │ │ │ │ │ │ │ │

Feb. │ │ │ │ │ │ │ │ │ │

Mar. │ │ │ │ │ │ │ │ │ │

Apr. │ │ │ │ │ │ │ │ │ │

May │ │ │ │ │ │ │ │ │ │

June │ │ │ │ │ │ │ │ │ │

July │ │ │ │ │ │ │ │ │ │

Aug. │ │ │ │ │ │ │ │ │ │

Sep. │ │ │ │ │ │ │ │ │ │

Oct. │ │ │ │ │ │ │ │ │ │

Nov. │ │ │ │ │ │ │ │ │ │

Dec. │ │ │ │ │ │ │ │ │ │

Totals │ │ │ │ │ │ │ │ │ │

│ │ │ │ │ │ │ │ │ │

Jan. │ │ │ │ │ │ │ │ │ │

Feb. │ │ │ │ │ │ │ │ │ │

Mar. │ │ │ │ │ │ │ │ │ │

Apr. │ │ │ │ │ │ │ │ │ │

May │ │ │ │ │ │ │ │ │ │

June │ │ │ │ │ │ │ │ │ │

July │ │ │ │ │ │ │ │ │ │

Aug. │ │ │ │ │ │ │ │ │ │

Sep. │ │ │ │ │ │ │ │ │ │

Oct. │ │ │ │ │ │ │ │ │ │

Nov. │ │ │ │ │ │ │ │ │ │

Dec. │ │ │ │ │ │ │ │ │ │

Totals │ │ │ │ │ │ │ │ │ │

PACKERS’ CHICAGO HAM PRICES.[16]

(No. 1 Reg., Smoked, 16 pounds.)

(Per hundredweight)

═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════

│1910.│1911.│1912.│1913.│1914.│1915.│1916.│1917.│1918.│1919.│Ten-yr.

│ │ │ │ │ │ │ │ │ │ │ av.

─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────

│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $

January │14.80│13.70│12.70│15.20│15.30│14.70│16.20│19.70│30.00│37.00│ 18.93

February │15.60│13.70│12.70│15.50│15.30│13.70│16.20│20.50│30.50│34.00│ 18.77

March │17.60│12.00│13.30│15.80│15.20│13.30│17.30│22.50│30.50│35.50│ 19.30

April │17.60│11.90│13.40│16.50│14.80│13.00│18.00│25.00│31.50│37.50│ 19.92

May │16.80│13.50│13.40│17.00│14.80│14.00│18.20│25.30│31.50│38.50│ 20.30

June │17.20│14.50│13.40│17.60│16.60│14.70│17.70│25.30│30.00│38.50│ 20.55

July │17.20│15.30│13.50│17.80│16.60│14.70│17.70│25.30│31.00│39.00│ 20.91

August │15.60│15.30│14.50│17.80│18.20│14.10│18.50│24.50│33.25│39.00│ 21.07

September│15.40│15.00│14.70│17.00│18.30│14.10│18.70│26.30│33.25│37.00│ 20.97

October │15.20│14.00│15.40│16.00│16.30│15.70│19.30│28.30│34.50│33.50│ 20.82

November │14.30│13.00│15.20│15.10│15.00│15.70│19.40│28.00│37.00│29.25│ 20.19

December │13.70│13.00│15.20│15.10│15.00│15.70│19.60│28.00│37.50│29.25│ 20.20

Yearly │15.92│13.74│13.95│16.37│15.95│14.45│18.07│24.89│32.54│35.66│ 20.15

aver. │ │ │ │ │ │ │ │ │ │ │

─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────

PACKERS’ CHICAGO BACON PRICES.[17]

(No. 1 Bacon, smoked, 10–12 pounds.)

(Per hundredweight)

│1910.│1911.│1912.│1913.│1914.│1915.│1916.│1917.│1918.│1919.│Ten-yr.

│ │ │ │ │ │ │ │ │ │ │ av.

│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $

January │16.30│17.00│12.50│16.30│16.20│17.20│15.40│21.00│36.50│44.00│ 21.24

February │17.00│16.40│12.50│17.00│17.00│16.30│16.40│23.50│37.00│38.50│ 21.16

March │20.20│15.40│14.20│17.50│17.20│15.30│18.50│26.40│38.50│40.00│ 22.32

April │20.10│15.30│14.70│17.80│17.20│15.00│19.70│30.60│39.50│40.00│ 22.99

May │20.00│15.30│14.70│18.70│17.20│15.60│19.70│33.30│39.25│41.50│ 23.52

June │21.50│15.30│14.80│18.70│17.70│16.60│19.10│33.30│39.00│41.50│ 23.75

July │21.50│15.30│14.80│18.70│18.60│16.60│19.00│31.20│39.00│41.00│ 23.57

August │19.70│15.50│15.70│18.70│20.40│16.20│19.00│33.50│42.50│41.00│ 24.22

September│20.80│15.50│16.30│17.60│20.40│17.00│19.10│35.70│42.50│37.50│ 24.24

October │20.80│14.20│17.50│17.20│20.30│17.70│19.10│36.70│45.50│35.50│ 24.45

November │20.80│13.70│17.50│17.00│19.70│17.70│19.10│35.50│47.00│33.00│ 24.10

December │18.00│13.40│17.00│17.10│19.00│16.70│19.00│35.40│47.50│33.00│ 23.61

Yearly │19.72│15.19│15.19│17.69│18.41│16.49│18.59│31.34│41.15│38.87│ 23.26

aver. │ │ │ │ │ │ │ │ │ │ │

PRICES OF COTTONSEED MEAL AT MEMPHIS.

(Per ton, in car lots)

│1908.│1909.│1910.│1911.│1912.│1913.│1914.│1915.│1916.│1917.│ 1918.

│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $

January │22.50│23.50│29.63│24.13│24.25│25.38│26.50│24.25│32.75│37.50│ 46.50

February │22.50│23.63│29.50│23.25│25.13│24.88│26.13│27.25│29.00│36.25│ 46.50

March │22.63│24.25│28.50│23.38│26.00│25.13│26.75│26.88│28.38│35.75│ 46.50

April │23.25│26.25│28.00│23.88│27.25│26.75│27.75│26.88│28.87│38.00│ 46.50

May │23.38│27.50│27.13│23.88│28.00│28.00│27.75│25.75│28.12│40.50│ 46.50

June │23.75│28.50│27.13│24.50│27.00│28.75│27.50│25.00│26.75│40.50│ 46.50

July │24.00│29.00│26.50│25.38│26.75│30.63│27.25│25.63│26.75│42.00│ 46.50

August │24.50│28.25│26.00│26.50│26.75│31.75│28.00│25.75│28.75│44.00│ 46.50

September│24.00│27.50│25.75│25.00│25.00│27.25│23.75│27.13│30.75│42.00│ 46.50

October │23.75│27.38│25.25│24.63│24.38│27.13│22.75│30.75│35.25│44.00│ 46.50

November │23.63│28.50│24.38│24.63│24.63│27.38│22.38│32.00│39.25│47.00│

December │23.63│28.50│24.38│24.38│25.75│27.25│23.75│33.75│39.00│46.50│

Previous to February, 1916, the price is for 41 per cent protein meal.

From February, 1916, to November, 1917, the price is for 38.5 per cent

protein meal, and from December, 1917, on, the price is the government

fixed price for 36 per cent protein meal. Quotations are averages of

high and low for month, taken from the News-Scimitar of Memphis.

AVERAGE PRICES OF MILL-FEEDS, 1908–1915.

(Per ton)

═════════╤══════════╤══════════════╤══════════════╤══════════════╤══════════════╤══════════════

│41 per ct.│ Cottonseed │ Oil meal at │Hominy feed at│ Bran at │ Brown

│ protein │ meal at │Milwaukee.[18]│Milwaukee.[18]│Milwaukee.[18]│ middlings at

│cottonseed│Milwaukee.[18]│ │ │ │Milwaukee.[18]

│ meal at │ │ │ │ │

│ Memphis. │ │ │ │ │

─────────┼──────────┼──────────────┼──────────────┼──────────────┼──────────────┼──────────────

January │ $25.00│ $29.76│ $33.42│ $26.06│ $23.20│ $23.31

February │ 25.28│ 29.44│ 33.60│ 25.50│ 23.39│ 23.14

March │ 25.44│ 29.14│ 32.15│ 24.61│ 23.32│ 23.09

April │ 26.25│ 29.49│ 31.05│ 24.52│ 22.88│ 23.08

May │ 26.42│ 30.90│ 30.64│ 24.93│ 22.37│ 23.25

June │ 26.52│ 29.54│ 30.67│ 25.20│ 20.57│ 22.68

July │ 26.95│ 30.05│ 31.77│ 25.41│ 20.66│ 23.20

August │ 27.19│ 29.74│ 32.86│ 26.75│ 21.45│ 23.96

September│ 25.67│ 29.19│ 33.33│ 27.46│ 21.24│ 22.96

October │ 25.75│ 29.82│ 32.62│ 25.81│ 20.58│ 22.11

November │ 25.94│ 30.05│ 33.09│ 24.52│ 21.81│ 21.43

December │ 26.42│ 30.20│ 33.31│ 25.46│ 21.68│ 21.80

Yearly │ 26.06│ 29.74│ 32.38│ 25.53│ 21.93│ 22.83

aver. │ │ │ │ │ │

─────────┴──────────┴──────────────┴──────────────┴──────────────┴──────────────┴──────────────

BRAN AT MINNEAPOLIS.

(Per ton)

│1906. │1907. │1908. │1909. │1910. │1911. │1912. │1913. │1914. │1915.

Jan. │$15.38│$17.63│$21.25│$20.38│$22.50│$21.63│$23.88│$19.00│$21.50│$22.50

Feb. │ 15.25│ 18.68│ 21.50│ 22.13│ 22.00│ 20.75│ 25.00│ 18.25│ 22.38│ 22.25

Mar. │ 14.88│ 18.88│ 22.63│ 22.13│ 20.25│ 20.63│ 24.50│ 16.50│ 24.00│ 20.63

Apr. │ 16.13│ 17.88│ 22.50│ 22.50│ 18.38│ 21.75│ 24.38│ 15.88│ 23.25│ 21.63

May │ 16.25│ 18.25│ 22.75│ 23.75│ 17.38│ 20.63│ 22.75│ 16.63│ 21.63│ 19.75

June │ 15.38│ 17.88│ 20.63│ 21.63│ 16.25│ 19.00│ 20.25│ 16.75│ 19.75│ 19.75

July │ 14.13│ 17.38│ 20.00│ 20.25│ 18.75│ 19.25│ 20.00│ 16.50│ 18.50│ 20.38

Aug. │ 13.63│ 19.13│ 19.88│ 19.13│ 19.13│ 20.13│ 19.00│ 19.25│ 21.13│ 19.63

Sep. │ 14.88│ 21.50│ 19.88│ 19.13│ 18.13│ 20.75│ 19.00│ 20.63│ 20.50│ 18.13

Oct. │ 16.38│ 23.25│ 19.50│ 18.88│ 17.38│ 21.38│ 18.63│ 19.13│ 18.88│ 17.75

Nov. │ 17.88│ 21.00│ 19.50│ 19.25│ 18.88│ 21.88│ 17.75│ 19.50│ 20.63│ 18.25

Dec. │ 17.80│ 20.38│ 19.50│ 20.63│ 20.25│ 22.33│ 18.25│ 20.25│ 20.88│ 18.50

│1916. │1917. │1918. │1919. │1920. │1921. │1922. │1923. │1924. │1925.

Jan. │$19.13│$28.50│$34.00│$45.25│ │ │ │ │ │

Feb. │ 19.25│ 32.00│ 36.25│ 38.50│ │ │ │ │ │

Mar. │ 17.63│ 35.00│ 36.00│ 37.20│ │ │ │ │ │

Apr. │ 18.25│ 38.25│ 33.25│ 38.00│ │ │ │ │ │

May │ 18.63│ 36.50│ 31.38│ 36.00│ │ │ │ │ │

June │ 18.13│ 25.50│ 31.38│ 34.25│ │ │ │ │ │

July │ 17.88│ 33.25│ 29.23│ 39.75│ │ │ │ │ │

Aug. │ 19.88│ 31.75│ 29.73│ 41.25│ │ │ │ │ │

Sep. │ 21.50│ 29.50│ 29.15│ 38.25│ │ │ │ │ │

Oct. │ 25.00│ 30.50│ 28.90│ 37.00│ │ │ │ │ │

Nov. │ 26.63│ 34.38│ 28.39│ 38.00│ │ │ │ │ │

Dec. │ 25.38│ 36.25│ 37.87│ 41.00│ │ │ │ │ │

│ │ │ │ │ │ │ │ │ │

Jan. │ │ │ │ │ │ │ │ │ │

Feb. │ │ │ │ │ │ │ │ │ │

Mar. │ │ │ │ │ │ │ │ │ │

Apr. │ │ │ │ │ │ │ │ │ │

May │ │ │ │ │ │ │ │ │ │

June │ │ │ │ │ │ │ │ │ │

July │ │ │ │ │ │ │ │ │ │

Aug. │ │ │ │ │ │ │ │ │ │

Sep. │ │ │ │ │ │ │ │ │ │

Oct. │ │ │ │ │ │ │ │ │ │

Nov. │ │ │ │ │ │ │ │ │ │

Dec. │ │ │ │ │ │ │ │ │ │

Totals │ │ │ │ │ │ │ │ │ │

MIDDLINGS AT MINNEAPOLIS.

(Per ton)

(Minneapolis middlings are evidently a lower grade than Kansas City

shorts.)

│1906. │1907. │1908. │1909. │1910. │1911. │1912. │1913. │1914. │1915.

Jan. │$15.38│$16.75│$20.63│$20.25│$22.13│$21.00│$23.38│$19.13│$21.13│$22.00

Feb. │ 15.38│ 17.80│ 21.13│ 22.00│ 21.88│ 20.50│ 24.88│ 18.13│ 21.50│ 22.13

Mar. │ 14.88│ 18.25│ 22.50│ 22.13│ 20.50│ 20.00│ 24.38│ 17.13│ 22.75│ 20.63

Apr. │ 16.13│ 17.88│ 22.75│ 22.50│ 18.50│ 21.00│ 24.38│ 16.38│ 22.88│ 22.63

May │ 16.38│ 19.00│ 22.88│ 23.88│ 18.75│ 21.25│ 23.75│ 17.38│ 22.13│ 22.88

June │ 15.50│ 18.88│ 20.63│ 22.25│ 17.88│ 20.50│ 22.75│ 18.63│ 21.25│ 23.13

July │ 15.88│ 19.25│ 20.50│ 20.75│ 20.50│ 21.88│ 23.25│ 18.63│ 21.00│ 25.13

Aug. │ 15.38│ 21.25│ 21.75│ 20.13│ 21.00│ 23.50│ 22.25│ 20.50│ 23.50│ 12.25

Sep. │ 15.88│ 23.50│ 20.75│ 19.00│ 19.50│ 23.88│ 21.75│ 22.63│ 21.50│ 20.00

Oct. │ 16.75│ 24.00│ 19.50│ 18.63│ 19.25│ 23.38│ 20.00│ 21.63│ 19.00│ 18.50

Nov. │ 17.75│ 21.00│ 19.25│ 19.00│ 20.38│ 22.75│ 17.63│ 21.25│ 20.50│ 18.13

Dec. │ 17.13│ 20.00│ 19.38│ 20.38│ 21.50│ 22.38│ 18.13│ 20.50│ 21.00│ 18.33

│1916. │1917. │1918. │1919. │1920. │1921. │1922. │1923. │1924. │1925.

Jan. │$19.88│$29.00│$35.25│$46.00│ │ │ │ │ │

Feb. │ 21.00│ 31.25│ 38.00│ 39.75│ │ │ │ │ │

Mar. │ 19.50│ 35.50│ 37.75│ 38.75│ │ │ │ │ │

Apr. │ 19.00│ 39.00│ 35.25│ 42.25│ │ │ │ │ │

May │ 20.00│ 36.00│ 33.25│ 45.00│ │ │ │ │ │

June │ 19.50│ 32.25│ 33.25│ 43.50│ │ │ │ │ │

July │ 19.13│ 40.00│ 30.85│ 50.00│ │ │ │ │ │

Aug. │ 21.00│ 39.75│ 31.71│ 54.00│ │ │ │ │ │

Sep. │ 23.50│ 34.00│ 31.26│ 51.00│ │ │ │ │ │

Oct. │ 27.25│ 36.50│ 30.81│ 44.00│ │ │ │ │ │

Nov. │ 30.00│ 34.50│ 30.21│ 41.50│ │ │ │ │ │

Dec. │ 27.50│ 37.75│ 40.24│ 42.25│ │ │ │ │ │

│ │ │ │ │ │ │ │ │ │

Jan. │ │ │ │ │ │ │ │ │ │

Feb. │ │ │ │ │ │ │ │ │ │

Mar. │ │ │ │ │ │ │ │ │ │

Apr. │ │ │ │ │ │ │ │ │ │

May │ │ │ │ │ │ │ │ │ │

June │ │ │ │ │ │ │ │ │ │

July │ │ │ │ │ │ │ │ │ │

Aug. │ │ │ │ │ │ │ │ │ │

Sep. │ │ │ │ │ │ │ │ │ │

Oct. │ │ │ │ │ │ │ │ │ │

Nov. │ │ │ │ │ │ │ │ │ │

Dec. │ │ │ │ │ │ │ │ │ │

Totals │ │ │ │ │ │ │ │ │ │

BRAN AT KANSAS CITY.

(Per ton)

│1906. │1907. │1908. │1909. │1910. │1911. │1912. │1913. │1914. │1915.

Jan. │$15.70│$17.70│$20.40│$19.60│$22.10│$20.10│$24.50│$19.00│$21.50│$21.90

Feb. │ 16.20│ 18.30│ 21.50│ 21.80│ 22.40│ 19.90│ 26.30│ 19.30│ 23.45│ 21.10

Mar. │ 16.70│ 18.30│ 22.30│ 22.80│ 21.50│ 20.10│ 25.90│ 17.00│ 23.50│ 20.90

Apr. │ 17.40│ 17.30│ 22.10│ 24.30│ 20.90│ 21.56│ 27.70│ 16.70│ 24.00│ 23.40

May │ 16.60│ 18.80│ 22.20│ 26.10│ 19.90│ 21.50│ 26.10│ 16.30│ 22.00│ 21.20

June │ 15.50│ 18.90│ 20.20│ 23.80│ 17.10│ 19.40│ 22.00│ 16.40│ 19.00│ 18.80

July │ 14.00│ 16.40│ 19.50│ 20.20│ 17.60│ 20.70│ 20.00│ 16.10│ 17.40│ 19.60

Aug. │ 13.50│ 18.50│ 19.30│ 18.50│ 18.40│ 20.40│ 18.50│ 20.20│ 20.80│ 18.50

Sep. │ 14.45│ 21.20│ 19.00│ 18.80│ 17.80│ 20.70│ 18.40│ 22.10│ 19.50│ 17.20

Oct. │ 16.15│ 22.60│ 18.60│ 20.20│ 17.20│ 21.70│ 18.15│ 20.20│ 18.10│ 17.60

Nov. │ 17.85│ 19.90│ 18.50│ 19.45│ 18.40│ 22.75│ 17.00│ 20.00│ 15.92│ 17.30

Dec. │ 17.70│ 19.70│ 18.80│ 20.20│ 19.00│ 23.20│ 17.60│ 20.10│ 20.20│ 17.90

│1916. │1917. │1918. │1919. │1920. │1921. │1922. │1923. │1924. │1925.

Jan. │$17.90│$28.60│$37.30│$46.75│ │ │ │ │ │

Feb. │ 18.30│ 32.90│ 36.50│ 39.00│ │ │ │ │ │

Mar. │ 17.40│ 36.70│ 36.20│ 37.50│ │ │ │ │ │

Apr. │ 19.20│ 38.70│ 34.70│ 38.00│ │ │ │ │ │

May │ 19.00│ 33.80│ 34.00│ 35.50│ │ │ │ │ │

June │ 17.50│ 29.00│ 33.25│ 34.00│ │ │ │ │ │

July │ 17.20│ 35.60│ 27.72│ 37.50│ │ │ │ │ │

Aug. │ 20.10│ 34.00│ 28.70│ 46.25│ │ │ │ │ │

Sep. │ 21.50│ 28.70│ 28.63│ 36.50│ │ │ │ │ │

Oct. │ 25.20│ 30.90│ 28.16│ 35.50│ │ │ │ │ │

Nov. │ 27.80│ 39.00│ 27.81│ 37.00│ │ │ │ │ │

Dec. │ 27.00│ 35.70│ 38.41│ 40.00│ │ │ │ │ │

│ │ │ │ │ │ │ │ │ │

Jan. │ │ │ │ │ │ │ │ │ │

Feb. │ │ │ │ │ │ │ │ │ │

Mar. │ │ │ │ │ │ │ │ │ │

Apr. │ │ │ │ │ │ │ │ │ │

May │ │ │ │ │ │ │ │ │ │

June │ │ │ │ │ │ │ │ │ │

July │ │ │ │ │ │ │ │ │ │

Aug. │ │ │ │ │ │ │ │ │ │

Sep. │ │ │ │ │ │ │ │ │ │

Oct. │ │ │ │ │ │ │ │ │ │

Nov. │ │ │ │ │ │ │ │ │ │

Dec. │ │ │ │ │ │ │ │ │ │

Totals │ │ │ │ │ │ │ │ │ │

SHORTS AT KANSAS CITY.

(Per ton)

│1906. │1907. │1908. │1909. │1910. │1911. │1912. │1913. │1914. │1915.

Jan. │$17.20│$17.50│$20.80│$21.40│$23.40│$21.90│$26.90│$20.30│$25.00│$24.60

Feb. │ 17.30│ 18.40│ 21.10│ 22.10│ 24.00│ 22.00│ 27.00│ 20.10│ 24.60│ 23.50

Mar. │ 17.60│ 18.75│ 22.70│ 23.60│ 22.80│ 21.60│ 26.70│ 19.00│ 24.20│ 22.70

Apr. │ 18.50│ 18.20│ 23.10│ 25.60│ 21.70│ 22.50│ 27.70│ 19.00│ 25.00│ 25.60

May │ 17.80│ 19.20│ 23.10│ 27.00│ 21.40│ 22.70│ 26.70│ 19.30│ 23.50│ 22.00

June │ 16.70│ 20.10│ 21.20│ 24.60│ 19.20│ 21.10│ 23.70│ 19.40│ 22.70│ 22.90

July │ 16.00│ 18.70│ 20.70│ 20.90│ 19.20│ 22.00│ 23.20│ 20.00│ 22.50│ 24.10

Aug. │ 16.10│ 20.40│ 20.70│ 19.60│ 20.50│ 24.30│ 23.40│ 23.50│ 24.00│ 24.00

Sep. │ 16.70│ 23.20│ 21.30│ 20.00│ 20.60│ 24.40│ 23.00│ 26.10│ 23.00│ 21.80

Oct. │ 18.05│ 23.70│ 21.40│ 21.80│ 20.50│ 25.80│ 22.50│ 23.80│ 20.70│ 21.30

Nov. │ 18.90│ 20.80│ 21.30│ 20.80│ 20.90│ 25.80│ 20.00│ 24.10│ 22.40│ 20.90

Dec. │ 18.40│ 20.20│ 21.30│ 21.30│ 21.20│ 26.20│ 19.00│ 24.10│ 23.70│ 20.60

│1916. │1917. │1918. │1919. │1920. │1921. │1922. │1923. │1924. │1925.

Jan. │$19.70│$31.60│$41.00│$54.00│ │ │ │ │ │

Feb. │ 21.20│ 35.50│ 41.00│ 44.00│ │ │ │ │ │

Mar. │ 20.80│ 39.30│ 39.20│ 41.50│ │ │ │ │ │

Apr. │ 21.40│ 41.50│ 38.20│ 46.50│ │ │ │ │ │

May │ 21.80│ 40.50│ 38.00│ 45.00│ │ │ │ │ │

June │ 21.20│ 39.50│ 38.00│ 46.50│ │ │ │ │ │

July │ 21.30│ 44.70│ 30.72│ 52.00│ │ │ │ │ │

Aug. │ 24.60│ 45.00│ 29.97│ 54.00│ │ │ │ │ │

Sep. │ 26.90│ 42.50│ 30.50│ 52.00│ │ │ │ │ │

Oct. │ 27.70│ 41.50│ 29.65│ 48.50│ │ │ │ │ │

Nov. │ 32.91│ 44.25│ 29.31│ 45.50│ │ │ │ │ │

Dec. │ 31.30│ 44.50│ 41.16│ 45.50│ │ │ │ │ │

│ │ │ │ │ │ │ │ │ │

Jan. │ │ │ │ │ │ │ │ │ │

Feb. │ │ │ │ │ │ │ │ │ │

Mar. │ │ │ │ │ │ │ │ │ │

Apr. │ │ │ │ │ │ │ │ │ │

May │ │ │ │ │ │ │ │ │ │

June │ │ │ │ │ │ │ │ │ │

July │ │ │ │ │ │ │ │ │ │

Aug. │ │ │ │ │ │ │ │ │ │

Sep. │ │ │ │ │ │ │ │ │ │

Oct. │ │ │ │ │ │ │ │ │ │

Nov. │ │ │ │ │ │ │ │ │ │

Dec. │ │ │ │ │ │ │ │ │ │

Totals │ │ │ │ │ │ │ │ │ │

WAGES IN THE CITY AND ON THE FARM, WITH DUN’S INDEX NUMBER.

(On the basis of 1913 equals 1.00.)

Year.│ [19]City wages. │ Farm-hand wages by │ Dun’s index number.

│ │month without board. │

─────┼─────────────────────┼─────────────────────┼─────────────────────

1860 │ .41│ │ .97

1861 │ .41│ │ .85

1862 │ .43│ │ .99

1863 │ .49│ │ 1.44

1864 │ .55│ │ 2.33

1865 │ .61│ │ 1.62

1866 │ .64│ .89│ 1.73

1867 │ .67│ │ 1.58

1868 │ .68│ │ 1.53

1869 │ .68│ .85│ 1.38

1870 │ .68│ │ 1.24

1871 │ .68│ │ 1.27

1872 │ .68│ │ 1.26

1873 │ .68│ │ 1.19

1874 │ .67│ │ 1.19

1875 │ .65│ .66│ 1.13

1876 │ .62│ │ .97

1877 │ .59│ │ .92

1878 │ .58│ │ .80

1879 │ .57│ .54│ .81

1880 │ .59│ │ .91

1881 │ .62│ │ .94

1882 │ .63│ .63│ 1.02

1883 │ .65│ │ .89

1884 │ .64│ │ .83

1885 │ .64│ .60│ .76

1886 │ .64│ │ .74

1887 │ .64│ │ .78

1888 │ .65│ .60│ .79

1889 │ .67│ │ .75

1890 │ .69│ .61│ .77

1891 │ .69│ │ .80

1892 │ .69│ .61│ .75

1893 │ .69│ .63│ .76

1894 │ .67│ .58│ .69

1895 │ .67│ .58│ .69

1896 │ .69│ │ .62

1897 │ .69│ │ .60

1898 │ .69│ .64│ .65

1899 │ .70│ .67│ .71

1900 │ .73│ │ .76

1901 │ .73│ │ .77

1902 │ .77│ .73│ .85

1903 │ .80│ │ .83

1904 │ .80│ │ .81

1905 │ .82│ │ .82

1906 │ .85│ │ .88

1907 │ .89│ │ .95

1908 │ .89│ │ .90

1909 │ .90│ │ .99

1910 │ .93│ .91│ .99

1911 │ .95│ .95│ .98

1912 │ .97│ .98│ 1.02

1913 │ 1.00│ 1.00│ 1.00

1914 │ .95│ .99│ 1.00

1915 │ 1.00│ .99│ 1.04

1916 │ 1.20│ 1.08│ 1.21

1917 │ 1.40│ 1.33│ 1.76

1918 │ 1.75│ 1.55│ 1.94

1919 │ 1.85│ 1.85│ 1.95

─────┴─────────────────────┴─────────────────────┴─────────────────────

PIG IRON.

(No. 2 foundry, per ton, at Birmingham, first of month.)

Compiled from Bradstreet’s Journal, by the Babson Statistical

Organization.

│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.

Jan. │$21.50│$10.00│$13.50│$14.50│$23.50│$13.50│$13.50│$14.00│$11.00│$10.00

Feb. │ 21.50│ 10.00│ 14.00│ 14.50│ 23.50│ 13.50│ 13.00│ 14.00│ 11.00│ 10.00

Mar. │ 18.50│ 9.50│ 14.00│ 14.50│ 23.50│ 12.50│ 12.00│ 13.00│ 11.00│ 10.25

Apr. │ 18.50│ 10.00│ 14.00│ 14.50│ 23.50│ 12.25│ 11.00│ 12.00│ 11.00│ 10.50

May │ 17.50│ 10.00│ 13.50│ 14.50│ 23.00│ 11.00│ 11.50│ 12.00│ 11.00│ 11.50

June │ 15.50│ 9.50│ 12.50│ 14.50│ 22.50│ 11.00│ 11.00│ 11.50│ 10.50│ 11.50

July │ 15.50│ 9.50│ 12.00│ 13.50│ 23.00│ 11.50│ 11.00│ 11.00│ 10.50│ 11.50

Aug. │ 13.50│ 9.50│ 12.00│ 13.50│ 21.50│ 11.50│ 13.50│ 11.00│ 10.00│ 12.00

Sep. │ 12.00│ 9.50│ 12.00│ 16.00│ 20.00│ 12.00│ 14.00│ 11.00│ 10.00│ 13.00

Oct. │ 12.00│ 9.50│ 12.50│ 17.00│ 18.50│ 12.00│ 15.00│ 11.25│ 10.00│ 13.25

Nov. │ 10.00│ 12.00│ 14.00│ 22.00│ 18.00│ 12.50│ 15.00│ 11.00│ 10.00│ 14.00

Dec. │ 9.25│ 13.50│ 14.50│ 22.00│ 15.00│ 13.00│ 14.00│ 11.00│ 9.50│ 13.50

(No. 2 foundry, per ton, at Birmingham, first of month.)

Compiled from Bradstreet’s Journal, by the Babson Statistical

Organization.

│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.

Jan. │$14.00│$10.50│$ 9.50│$15.00│$23.00│$33.00│$31.00│ │ │

Feb. │ 13.50│ 10.50│ 9.50│ 15.00│ 24.00│ 33.00│ 31.00│ │ │

Mar. │ 13.00│ 10.75│ 9.50│ 15.00│ 26.00│ 33.00│ 31.00│ │ │

Apr. │ 13.00│ 10.50│ 9.25│ 15.00│ 33.00│ 33.00│ 26.75│ │ │

May │ 12.00│ 10.50│ 9.50│ 15.00│ 37.50│ 33.00│ 26.75│ │ │

June │ 11.00│ 10.50│ 9.50│ 15.00│ 40.00│ 33.00│ 25.75│ │ │

July │ 10.50│ 10.25│ 9.75│ 14.00│ 47.00│ 33.00│ 24.75│ │ │

Aug. │ 10.50│ 10.00│ 10.25│ 14.00│ 47.00│ 33.00│ 26.75│ │ │

Sep. │ 11.00│ 10.00│ 11.00│ 14.00│ 47.00│ 33.00│ 27.75│ │ │

Oct. │ 11.00│ 10.00│ 11.50│ 14.50│ 30.00│ 34.00│ 28.00│ │ │

Nov. │ 11.00│ 10.00│ 13.00│ 17.00│ 33.00│ 34.00│ 28.00│ │ │

Dec. │ 11.00│ 9.75│ 14.00│ 23.00│ 33.00│ 34.00│ 34.00│ │ │

│ │ │ │ │ │ │ │ │ │

Jan. │ │ │ │ │ │ │ │ │ │

Feb. │ │ │ │ │ │ │ │ │ │

Mar. │ │ │ │ │ │ │ │ │ │

Apr. │ │ │ │ │ │ │ │ │ │

May │ │ │ │ │ │ │ │ │ │

June │ │ │ │ │ │ │ │ │ │

July │ │ │ │ │ │ │ │ │ │

Aug. │ │ │ │ │ │ │ │ │ │

Sep. │ │ │ │ │ │ │ │ │ │

Oct. │ │ │ │ │ │ │ │ │ │

Nov. │ │ │ │ │ │ │ │ │ │

Dec. │ │ │ │ │ │ │ │ │ │

Totals │ │ │ │ │ │ │ │ │ │

COPPER.

(Electrolytic, per pound, at New York, first of month.)

Compiled from Bradstreet’s Journal, by the Babson Statistical

Organization.

│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.

Jan. │ $.119│ $.122│ $.151│ $.187│ $.241│ $.138│ $.145│ $.137│ $.128│ $.143

Feb. │ .126│ .126│ .152│ .181│ .252│ .139│ .139│ .138│ .126│ .142

Mar. │ .134│ .124│ .151│ .185│ .252│ .129│ .129│ .136│ .126│ .146

Apr. │ .150│ .129│ .153│ .186│ .253│ .131│ .129│ .135│ .123│ .156

May │ .148│ .131│ .150│ .186│ .253│ .129│ .129│ .129│ .123│ .159

June │ .144│ .128│ .148│ .188│ .248│ .127│ .136│ .129│ .123│ .168

July │ .141│ .124│ .148│ .187│ .238│ .127│ .135│ .127│ .127│ .175

Aug. │ .129│ .125│ .153│ .187│ .213│ .133│ .133│ .126│ .127│ .176

Sep. │ .135│ .125│ .161│ .187│ .179│ .138│ .133│ .128│ .126│ .178

Oct. │ .130│ .127│ .164│ .201│ .149│ .135│ .132│ .127│ .124│ .178

Nov. │ .136│ .137│ .164│ .223│ .145│ .139│ .130│ .128│ .124│ .176

Dec. │ .119│ .150│ .176│ .228│ .138│ .144│ .134│ .129│ .133│ .176

│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.

Jan. │ $.177│ $.149│ $.130│ $.229│ $.295│ $.235│ $.230│ │ │

Feb. │ .162│ .148│ .148│ .254│ .330│ .235│ .188│ │ │

Mar. │ .148│ .144│ .146│ .271│ .365│ .235│ .155│ │ │

Apr. │ .153│ .144│ .156│ .275│ .340│ .235│ .154│ │ │

May │ .146│ .142│ .186│ .285│ .310│ .235│ .153│ │ │

June │ .156│ .140│ .188│ .280│ .325│ .235│ .165│ │ │

July │ .146│ .134│ .200│ .265│ .318│ .235│ .190│ │ │

Aug. │ .150│ .130│ .183│ .263│ .290│ .260│ .235│ │ │

Sep. │ .164│ .124│ .178│ .280│ .253│ .260│ .228│ │ │

Oct. │ .169│ .118│ .180│ .285│ .235│ .260│ .215│ │ │

Nov. │ .165│ .113│ .179│ .285│ .235│ .260│ .218│ │ │

Dec. │ .146│ .128│ .199│ .345│ .235│ .260│ .183│ │ │

│ │ │ │ │ │ │ │ │ │

Jan. │ │ │ │ │ │ │ │ │ │

Feb. │ │ │ │ │ │ │ │ │ │

Mar. │ │ │ │ │ │ │ │ │ │

Apr. │ │ │ │ │ │ │ │ │ │

May │ │ │ │ │ │ │ │ │ │

June │ │ │ │ │ │ │ │ │ │

July │ │ │ │ │ │ │ │ │ │

Aug. │ │ │ │ │ │ │ │ │ │

Sep. │ │ │ │ │ │ │ │ │ │

Oct. │ │ │ │ │ │ │ │ │ │

Nov. │ │ │ │ │ │ │ │ │ │

Dec. │ │ │ │ │ │ │ │ │ │

Totals │ │ │ │ │ │ │ │ │ │

CRUDE PETROLEUM.

(Per barrel, at New York, first of month.)

Compiled from Bradstreet’s Journal, by the Babson Statistical

Organization.

│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.

Jan. │$ 1.54│$ 1.85│$ 1.50│$ 1.58│$ 1.58│$ 1.78│$ 1.78│$ 1.43│$ 1.30│$ 1.35

Feb. │ 1.50│ 1.85│ 1.39│ 1.58│ 1.58│ 1.78│ 1.78│ 1.40│ 1.30│ 1.50

Mar. │ 1.50│ 1.77│ 1.39│ 1.58│ 1.63│ 1.78│ 1.78│ 1.40│ 1.30│ 1.50

Apr. │ 1.50│ 1.68│ 1.36│ 1.58│ 1.78│ 1.78│ 1.78│ 1.40│ 1.30│ 1.50

May │ 1.53│ 1.62│ 1.29│ 1.64│ 1.78│ 1.78│ 1.78│ 1.35│ 1.30│ 1.55

June │ 1.50│ 1.62│ 1.27│ 1.64│ 1.78│ 1.78│ 1.68│ 1.35│ 1.30│ 1.55

July │ 1.50│ 1.57│ 1.27│ 1.64│ 1.78│ 1.78│ 1.63│ 1.30│ 1.30│ 1.60

Aug. │ 1.56│ 1.50│ 1.27│ 1.61│ 1.78│ 1.78│ 1.58│ 1.30│ 1.30│ 1.60

Sep. │ 1.56│ 1.53│ 1.27│ 1.58│ 1.78│ 1.78│ 1.58│ 1.30│ 1.30│ 1.60

Oct. │ 1.62│ 1.56│ 1.51│ 1.58│ 1.78│ 1.78│ 1.58│ 1.30│ 1.30│ 1.60

Nov. │ 1.77│ 1.56│ 1.61│ 1.58│ 1.78│ 1.78│ 1.53│ 1.30│ 1.30│ 1.65

Dec. │ 1.82│ 1.60│ 1.58│ 1.58│ 1.78│ 1.78│ 1.48│ 1.30│ 1.30│ 1.85

│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.

Jan. │$ 2.00│$ 2.50│$ 1.45│$ 2.25│$ 2.85│$ 3.75│$ 4.00│ │ │

Feb. │ 2.40│ 2.50│ 1.45│ 2.35│ 3.05│ 3.75│ 4.00│ │ │

Mar. │ 2.50│ 2.50│ 1.50│ 2.40│ 3.05│ 4.00│ 4.00│ │ │

Apr. │ 2.50│ 2.50│ 1.40│ 2.60│ 3.05│ 4.00│ 4.00│ │ │

May │ 2.50│ 2.00│ 1.35│ 2.60│ 3.10│ 4.00│ 4.00│ │ │

June │ 2.50│ 1.80│ 1.35│ 2.60│ 3.10│ 4.00│ 4.00│ │ │

July │ 2.50│ 1.75│ 1.35│ 2.60│ 3.10│ 4.00│ 4.00│ │ │

Aug. │ 2.50│ 1.65│ 1.35│ 2.50│ 3.10│ 4.00│ 4.00│ │ │

Sep. │ 2.50│ 1.45│ 1.60│ 2.30│ 3.50│ 4.00│ 4.25│ │ │

Oct. │ 2.50│ 1.45│ 1.70│ 2.40│ 3.50│ 4.00│ 4.25│ │ │

Nov. │ 2.50│ 1.45│ 1.80│ 2.60│ 3.50│ 4.00│ 4.25│ │ │

Dec. │ 2.50│ 1.45│ 2.00│ 2.60│ 3.50│ 4.00│ 4.50│ │ │

│ │ │ │ │ │ │ │ │ │

Jan. │ │ │ │ │ │ │ │ │ │

Feb. │ │ │ │ │ │ │ │ │ │

Mar. │ │ │ │ │ │ │ │ │ │

Apr. │ │ │ │ │ │ │ │ │ │

May │ │ │ │ │ │ │ │ │ │

June │ │ │ │ │ │ │ │ │ │

July │ │ │ │ │ │ │ │ │ │

Aug. │ │ │ │ │ │ │ │ │ │

Sep. │ │ │ │ │ │ │ │ │ │

Oct. │ │ │ │ │ │ │ │ │ │

Nov. │ │ │ │ │ │ │ │ │ │

Dec. │ │ │ │ │ │ │ │ │ │

Totals │ │ │ │ │ │ │ │ │ │

LUMBER.

(Combined quotation on 1,000 feet each of yellow pine, Pennsylvania

hemlock and eastern spruce.)

Compiled from Bradstreet’s Journal, by the Babson Statistical

Organization.

│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.

│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $

Jan. │ 58.00│ 61.00│ 58.50│ 74.00│ 78.00│ 68.00│ 68.00│ 71.00│ 66.00│ 71.00

Feb. │ 58.00│ 61.00│ 59.50│ 74.00│ 74.00│ 66.00│ 69.50│ 69.00│ 67.50│ 71.00

Mar. │ 58.00│ 61.00│ 59.50│ 74.00│ 74.00│ 66.00│ 69.50│ 69.00│ 68.50│ 71.00

Apr. │ 58.00│ 60.00│ 59.50│ 80.00│ 70.00│ 65.00│ 69.00│ 70.00│ 70.00│ 71.00

May │ 59.00│ 60.00│ 60.00│ 80.00│ 71.00│ 61.00│ 69.00│ 70.00│ 70.00│ 71.00

June │ 59.00│ 60.00│ 62.25│ 80.00│ 71.00│ 61.00│ 69.00│ 70.00│ 70.00│ 70.00

July │ 59.50│ 60.00│ 62.00│ 78.00│ 71.00│ 61.00│ 69.00│ 69.00│ 70.00│ 69.50

Aug. │ 61.00│ 60.00│ 63.00│ 78.00│ 71.00│ 61.00│ 67.75│ 66.00│ 70.00│ 70.50

Sep. │ 61.00│ 60.00│ 67.00│ 78.00│ 71.00│ 61.00│ 70.50│ 66.00│ 70.00│ 71.00

Oct │ 61.00│ 59.00│ 69.00│ 79.00│ 71.00│ 62.50│ 71.00│ 66.00│ 70.00│ 71.50

Nov. │ 61.00│ 59.00│ 70.00│ 79.00│ 71.00│ 64.50│ 71.00│ 66.00│ 70.00│ 72.50

Dec. │ 61.00│ 59.00│ 73.00│ 79.00│ 68.00│ 66.50│ 71.00│ 66.00│ 70.00│ 75.00

│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.

│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $

Jan. │ 75.00│ 71.50│ 71.00│ 80.00│ 80.00│ 98.50│117.50│ │ │

Feb. │ 77.00│ 71.50│ 71.00│ 81.00│ 82.00│100.50│119.00│ │ │

Mar. │ 79.50│ 71.50│ 71.00│ 83.00│ 83.00│100.50│119.00│ │ │

Apr. │ 84.00│ 71.50│ 71.00│ 84.00│ 83.00│107.50│112.00│ │ │

May │ 80.00│ 71.50│ 71.50│ 84.00│ 87.00│120.50│112.00│ │ │

June │ 79.50│ 71.00│ 70.50│ 84.00│ 86.00│121.50│112.00│ │ │

July │ 76.50│ 71.00│ 70.00│ 78.00│ 96.00│124.00│112.00│ │ │

Aug. │ 73.50│ 71.00│ 70.00│ 73.75│ 96.00│124.00│128.00│ │ │

Sep. │ 73.50│ 71.00│ 70.50│ 73.75│ 96.50│114.00│140.00│ │ │

Oct. │ 73.50│ 71.00│ 70.50│ 73.75│ 97.50│114.00│139.00│ │ │

Nov. │ 71.50│ 71.00│ 72.50│ 73.75│ 98.50│114.00│144.00│ │ │

Dec. │ 71.50│ 71.00│ 79.00│ 79.00│ 98.50│117.50│162.00│ │ │

│ │ │ │ │ │ │ │ │ │

Jan. │ │ │ │ │ │ │ │ │ │

Feb. │ │ │ │ │ │ │ │ │ │

Mar. │ │ │ │ │ │ │ │ │ │

Apr. │ │ │ │ │ │ │ │ │ │

May │ │ │ │ │ │ │ │ │ │

June │ │ │ │ │ │ │ │ │ │

July │ │ │ │ │ │ │ │ │ │

Aug. │ │ │ │ │ │ │ │ │ │

Sep. │ │ │ │ │ │ │ │ │ │

Oct. │ │ │ │ │ │ │ │ │ │

Nov. │ │ │ │ │ │ │ │ │ │

Dec. │ │ │ │ │ │ │ │ │ │

Totals │ │ │ │ │ │ │ │ │ │

│ │ │ │ │ │ │ │ │ │

Jan. │ │ │ │ │ │ │ │ │ │

Feb. │ │ │ │ │ │ │ │ │ │

Mar. │ │ │ │ │ │ │ │ │ │

Apr. │ │ │ │ │ │ │ │ │ │

May │ │ │ │ │ │ │ │ │ │

June │ │ │ │ │ │ │ │ │ │

July │ │ │ │ │ │ │ │ │ │

Aug. │ │ │ │ │ │ │ │ │ │

Sep. │ │ │ │ │ │ │ │ │ │

Oct. │ │ │ │ │ │ │ │ │ │

Nov. │ │ │ │ │ │ │ │ │ │

Dec. │ │ │ │ │ │ │ │ │ │

Totals │ │ │ │ │ │ │ │ │ │

│ │ │ │ │ │ │ │ │ │

Jan. │ │ │ │ │ │ │ │ │ │

Feb. │ │ │ │ │ │ │ │ │ │

Mar. │ │ │ │ │ │ │ │ │ │

Apr. │ │ │ │ │ │ │ │ │ │

May │ │ │ │ │ │ │ │ │ │

June │ │ │ │ │ │ │ │ │ │

July │ │ │ │ │ │ │ │ │ │

Aug. │ │ │ │ │ │ │ │ │ │

Sep. │ │ │ │ │ │ │ │ │ │

Oct. │ │ │ │ │ │ │ │ │ │

Nov. │ │ │ │ │ │ │ │ │ │

Dec. │ │ │ │ │ │ │ │ │ │

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Nov. │ │ │ │ │ │ │ │ │ │

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Totals │ │ │ │ │ │ │ │ │ │

│ │ │ │ │ │ │ │ │ │

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Totals │ │ │ │ │ │ │ │ │ │

│ │ │ │ │ │ │ │ │ │

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Nov. │ │ │ │ │ │ │ │ │ │

Dec. │ │ │ │ │ │ │ │ │ │

Totals │ │ │ │ │ │ │ │ │ │

│ │ │ │ │ │ │ │ │ │

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Totals │ │ │ │ │ │ │ │ │ │

│ │ │ │ │ │ │ │ │ │

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Nov. │ │ │ │ │ │ │ │ │ │

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Totals │ │ │ │ │ │ │ │ │ │

│ │ │ │ │ │ │ │ │ │

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Feb. │ │ │ │ │ │ │ │ │ │

Mar. │ │ │ │ │ │ │ │ │ │

Apr. │ │ │ │ │ │ │ │ │ │

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│ │ │ │ │ │ │ │ │ │

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Dec. │ │ │ │ │ │ │ │ │ │

Totals │ │ │ │ │ │ │ │ │ │

│ │ │ │ │ │ │ │ │ │

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Totals │ │ │ │ │ │ │ │ │ │

│ │ │ │ │ │ │ │ │ │

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Totals │ │ │ │ │ │ │ │ │ │

│ │ │ │ │ │ │ │ │ │

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[Illustration]

Index to Tables in Appendix

Bacon prices, wholesale, 204

Bacon prices, retail, 200

Bran prices in Illinois, 197

Bran prices in Iowa, 195

Bran prices at Kansas City, 208

Bran prices at Minneapolis, 206

Butter prices on the farm, 198

Butter prices at Elgin and Chicago, 161

Cattle grades, percentage of each slaughtered at central markets, 184

Cattle prices, average native beef, 900 to 1,900 pounds, at Chicago,

147

Cattle prices, average native beef, 1,200 to 1,500 pounds, at Chicago,

148

Cattle prices, average fat cows and heifers, at Chicago, 149

Cattle prices, average canners and cutters, at Chicago, 150

Cattle prices, average native calves, at Chicago, 151

Cattle prices, average grass-fed westerns, at Chicago, 152

Cattle prices, average feeders and stockers, at Chicago, 153

Cattle prices in Illinois, 197

Cattle prices in Iowa, 195

Cattle receipts, monthly, at six markets, 172

Cattle receipts, monthly, at Chicago, 173

Cattle shipments of stockers and feeders from Omaha, 185–186

Cattle shipments of stockers and feeders from Kansas City, 189

Cattle weights at Chicago, 182

Chicago ten-year average daily prices, 126–133

Copper prices, 212

Corn exports, 193

Corn-hog ratios by decades, 120

Corn prices in Illinois, 196

Corn prices in Iowa, 194

Corn prices, monthly, at Chicago, 118–119

Corn prices in Argentina, 190

Corn receipts, monthly, at Chicago, 176

Cottonseed meal prices at Memphis, 205

Crude petroleum prices, 213

Daily prices, ten-year averages, at Chicago, 126–133

Dun’s index number, yearly, 134–135

Dun’s index number, by months since 1903, 135–139

Egg prices on the farm, 198

Exports of corn, 193

Exports of pork products, 191

Exports of wheat, 192

Greenback currency values, 125

Ham prices, wholesale, 204

Ham prices, retail, 200

Hog prices, in Illinois, 196

Hog prices in Iowa, 194

Hog prices, heavy, at Chicago, 116–117

Hog prices, average, at Chicago, 140

Hog prices, average, at Sioux City, 140

Hog prices, light, at Chicago, 141

Hog prices, pigs, at Chicago, 142

Hog prices, top, at Chicago, 143

Hog prices, top at St Louis, 144

Hog prices, top, at Omaha, 145

Hog prices, top, at Kansas City, 146

Hog receipts, monthly, at eleven markets, 164

Hog receipts, monthly, at six markets, 165

Hog receipts, monthly, at Chicago, 166

Hog receipts, monthly, at Kansas City, 169

Hog receipts, monthly, at Omaha, 167

Hog receipts, monthly, at St Louis, 168

Hog receipts, monthly, at Sioux City, 170

Hog receipts, monthly, at St Joseph, 171

Hog weights at Chicago, 178

Hog weights at Kansas City, St Joseph and Sioux City, 180–181

Hog weights at Omaha, 179

Hog weights at St Louis, 179

Horse prices on farms, 163

Horse prices, draft, at Omaha and Chicago, 163

Lard prices at Chicago, 160

Live stock movements, yearly, Bureau of Markets, 190

Lumber prices, 214

Middlings at Kansas City, 209

Middlings at Minneapolis, 207

Milk prices in Elgin-Chicago district, 162

Mill-feed price averages, 205

Oats prices in Illinois, 196

Oats prices in Iowa, 194

Oats prices, monthly, at Chicago, 121–122

Oats receipts, monthly, at Chicago, 177

Packers’ prices of ham and bacon, 204

Petroleum, crude, prices, 213

Pig iron prices, 211

Potato prices on the farm, 197

Pork exports, 191

Prices, daily ten-year averages, at Chicago, 126–133

Retail prices of bacon, 200

Retail prices of butter, 202

Retail prices of corn meal, 201

Retail prices of eggs, 202

Retail prices of flour, 201

Retail prices of ham, 200

Retail prices of lard, 201

Retail prices of milk, 202

Retail prices of pork chops, 200

Retail prices of potatoes, 203

Retail prices of rib roasts, 199

Retail prices of round steak, 199

Retail prices of sirloin steak, 199

Sheep prices, average of native lambs, at Chicago, 155

Sheep prices, average of native sheep, at Chicago, 156

Sheep prices, average of western lambs, at Chicago, 157

Sheep prices, average of western sheep, at Chicago, 158

Sheep prices, average of yearlings, at Chicago, 154

Sheep receipts, monthly, at Chicago, 175

Sheep receipts, monthly, at six markets, 174

Sheep, shipments of stockers and feeders from Omaha, 187–188

Sheep weights at Chicago, 183

Short-rib sides, prices at Chicago, 159

Shorts, prices at Kansas City, 209

Wages on city and farm, 210

Wheat exports, 192

Wheat prices at Chicago, 123–124

Wheat prices in Argentina, 190

Wool prices in Illinois, 197

Wool prices in Iowa, 195

-----

Footnote 1:

It is suggested that those who are especially interested in a study of

speculative markets read “Braces’ Organized Speculation,” or “Emery’s

Speculation on the Stock and Produce Exchanges of the United States.”

Footnote 2:

The following defense of the functions of the Board of Trade was

compiled by Mr. John R. Mauff, the secretary: “The Chicago Board of

Trade has exclusive characteristics, indispensable to the welfare of

the producer and consumer. It offers the producer a constant and

infallible fluctuating market, determined and regulated by the

inexorable law of supply and demand. It creates, thru the trading of

its large membership, representing the various branches of

agricultural and industrial activity, continuous quotations that are

collected and distributed generally and without cost to the public.

There is thus presented the opportunity for the producer to determine

at any time the exact value of his products. A further advantage is

that he can dispose of these products at any time by making a future

delivery ‘hedging’ contract to suit his inclination, regardless of bad

roads or transportation problems. Another benefit is the large and

daily open competitive market in which to display his wares before a

multitude of buyers simultaneously, obviating the otherwise impossible

task of communicating with this diversity of demands by personal

effort. Protected at all times by a set of rules and regulations

holding its members to a strict accountability for their proper

conduct as commission merchants; mandatory for suspension or expulsion

for any violation of the ethics of trade. Having at their disposal a

variety of ability only to be found in a large membership, insuring in

this way proper handling and attention because a strenuous effort is

always masterful and resourceful where competition is rife.

Dissemination of statistics relating to agriculture; the benefits of

terminal elevators equipped with modern apparatus for the proper care

of sample grades. For consumers, car shortage and other transportation

difficulties productive of business stagnation overcome by the

opportunity to purchase for future delivery the raw material where

‘short’ sales of product call for protection. Consummation of

contracts possible at all times thru the machinery of a market for

future delivery at continuous prices, reliable to the fluctuations of

a small fraction—one-eighth of one cent per bushel. In conclusion, and

by no means least, the facilities offered for thus establishing value

in every part of the United States, with no inequality because of

geographical location, and so a death knell to the exploiters of

producers and consumers because of this knowledge widely disseminated

and so easy of understanding.”

Footnote 3:

The skew curves of supply and demand, as derived by H. L. Moore, in

his book on “Economic Cycles,” furnish mathematical proof of this

statement so far as corn and oats are concerned.

Footnote 4:

The chart printed in connection with the chapter, “Pork Exports, the

Barometer of Corn Belt Prosperity,” gives forty-four years of profit

and loss areas per acre of corn in the twelve north central states,

the method used being the ratio method as described in the above.

Footnote 5:

It may be argued that the price of hogs determines the price of corn,

and that the price of corn determines the price of land. This to a

large extent may be true, and yet not interfere with the usefulness of

the ratio method for purposes of price judging.

Footnote 6:

The link relative method of finding the normal seasonal variation, as

used by Warren M. Persons, in the January, 1919, Review of Economic

Statistics, is far more difficult than the method here used, and for

our purposes is not worth while.

Footnote 7:

Warren M. Persons, in a footnote on page 35 of the January, 1919,

Review of Economic Statistics, expresses the method of ascertaining

percentage departure from the secular trend in mathematical symbols as

follows: “Let the original series beginning with January be X_{1},

X_{2}, X_{3}, ... X_{n}, the ordinates of secular trend be O_{1},

O_{2}, O_{3}, ... O_{n}, and the adjusted indices of seasonal

variation for twelve months be S_{1}, S_{2}, S_{3}, ... S_{12} per

cent, respectively. Then the items for secular trend and seasonal

variation are:

X_{1} − S_{1}O_{1}/O_{1}, X_{2} − S_{2}O_{2}/O_{2}, X_{3} −

S_{3}O_{3}/O_{3}, ... X_{3} − S_{1}O_{13}/O_{13} etc.”

Footnote 8:

These figures are based on seasonal correction factors as follows:

January, 96; February, 100; March, 105; April, 104; May, 101; June,

101; July, 103; August, 101; September, 103; October, 100; November,

94; December, 92. These factors are practically the same as those used

on page 84.

Footnote 9:

Since the chapter, “Limitations of the Mathematical Method,” was

written, it has been discovered that hog receipts at eleven markets

are a more accurate indicator of hog prices than receipts at Chicago,

and that prices of Connelsville coke are a better indicator of the

demand for hogs than bank clearings outside New York City. The

multiple coefficient of correlation between hog prices on the one hand

and Chicago hog receipts and bank clearings outside New York City on

the other hand is .65, whereas between hog prices and hog receipts at

eleven markets and coke prices the multiple coefficient of correlation

is .70.

Footnote 10:

This is the average as given in the Drovers’ Journal Year Books. It

evidently is a weighted average based on varying receipts.

Footnote 11:

This is a simple average and not strictly comparable with the Chicago

averages, which are weighted on the basis of varying receipts.

Footnote 12:

Interpolated from Kansas City market, on account of foot-and-mouth

disease closing Chicago market.

Footnote 13:

Omaha prices, 1903 to 1907, inclusive; Chicago prices after 1907.

Footnote 14:

Prices for both wheat and corn are taken from the Year Books of the

Rosario Board of Trade. Rosario is the Chicago of Argentina. The

Argentine unit of weight, the quintal, is taken as equivalent to 3.67

bushels of wheat and 3.936 bushels of corn. The Argentine dollar is

taken as equivalent to 42.6 cents. After July of 1918, prices are

taken from the International Institute of Agriculture.

Footnote 15:

Flour exports converted into wheat at the rate of four and one-half

bushels of wheat to a barrel.

Footnote 16:

These figures, previous to 1917, were taken from charts furnished by

Dr. L. D. H. Weld, of Swift Company. Since 1917, the source has been

the Daily Trade Bulletin of Howard Bartels. The top price for the

month is used in every case.

Footnote 17:

These figures, previous to 1917, were taken from charts furnished by

Dr. L. D. H. Weld, of Swift Company. Since 1917, the source has been

the Daily Trade Bulletin of Howard Bartels. The top price for the

month is used in every case.

Footnote 18:

The Milwaukee prices were compiled by Professor F. A. Pearson, of the

University of Illinois, from the reports of the Western Feed Bureau.

Footnote 19:

From 1860 to 1890, wages are based on the investigation made by the

Department of Labor for the senate committee investigating prices and

wages, and reported in Senate Document 1394. Wages from 1890 to 1907

are based on Bulletin 77 of the Bureau of Labor Statistics, and from

1907 to 1913 on unpublished data of the Bureau of Labor Statistics,

prepared for the San Francisco Exposition. Figures since 1913 are

estimated from reports of manufacturing establishments in New York

state, reports of wages paid by the United States Steel Corporation,

and reports of the Bureau of Labor Statistics as to wages existing in

cotton goods, men’s clothing, lumber, and furniture industries. It is

believed that the figures since 1913 are roughly accurate, but that

they may have to be revised to make them comparable with the preceding

series. Farm-hand wages are derived from the December, 1919, Monthly

Crop Reporter of the Bureau of Crop Estimates.

------------------------------------------------------------------------

TRANSCRIBER’S NOTES

● Typos fixed; non-standard spelling and dialect retained.

● Enclosed italics font in _underscores_.

● Enclosed blackletter font in =equals=.