Economic essays

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Identifikator:: 1753623200

URN:: urn:nbn:de:zbw-retromon-136107

Document type:: Monograph

Title:: Economic essays

Place of publication:: New York

Publisher:: Macmillan

Year of publication:: 1927

Scope:: viii, 368 S.; Ill., graph. Darst.

Digitisation:: 2021

Collection:: Economics Books

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Document type:: Monograph

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Title:: The holding movement in agriculture / Jesse E. Pope

Collection:: Economics Books

252 ECONOMIC ESSAYS IN HONOR OF JOHN BATES CLARK cents per bushel; but since the carrying charges up to August first were 11.2 cents per bushel, there was no gain from the hold- ing. The table shows that in all but one of the eleven months corn sold at a higher price than at the time it was ready for the market; but if carrying charges be taken into account, it will be seen that if the farmer had sold his corn in any month except one he would have lost by the holding, and that in that one month he would have about broken even. A similar table for cotton shows the relative average monthly receipts, and selling price (per pound), and relative average monthly price, if held, during the ten year period, 1904-13. TABLE IV CorTON gi — November December January February March April . May . June . w= July ian, August September October IX y AVERAGE MONTHLY PRICE FOR TEN YEAR PERIOD (Cents) 11.8 11.8 11.6 11.6 J1.7 ‘1.8 12.3 2.4 12.6 12.3 11.8 11.6 y RELATIVE AVERAGE MoNTHLY “RICE FOR TEN YEAR PERIOD 100 100 98 a ae 15 7 104 100 IR RELATIVE AVERAGE MONTHLY PRICE IF Herp 100 a3 96 05 5 5 as os 0 RELATIVE AVERAGE MoNTHLY RECEIPTS FOR TEN YEAR PERIOD " 100 83 49 34 29 19 134 & 6 13 47 O1 The table indicates that the maximum selling price of cotton is reached in July, when it is relatively seven points higher than the selling price in the preceding November, or 12.6 cents as compared with 11.8 cents, a difference of eight tenths of a cent; that is, if it had cost nothing for the farmer to carry his cotton and if he had sold at the high point, he would have gained eight tenths of a cent per pound; but since carrying charges up to July first were nine tenths of a cent per pound, the farmer actually lost one tenth of a cent per pound by holding. Examination of the table shows that in only three out of the eight months did cotton sell at a higher price than at the time it was ready for the

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