CHICAGO REPRESENTATIVES IN LEGISLATURE

George U. Lipshulch (D), 920 S. Ashland boulevard.
John H. Lyle (R), 6305 Yale avenue.

Christian M. Madsen (S), 3220 Cortez street.
Joseph M. Mason (S), 3037 N. Spaulding avenue.
Medill McCormick (P), 909 Lake Shore Drive.
James C. McGloon (D), 1544 S. Trumbull avenue.
Benjamin M. Mitchell (D), 3246 Washington boulevard.
Robert J. Mulcahy (D), 3243 Archer avenue.
Louis J. Pierson (R), 730 Lake avenue, Wilmette.
Joseph Placek (D), 2333 S. Kedzie avenue.

James T. Prendergast (D), 1233 S. Lawndale avenue.
Solomon P. Roderick (R), 1328 S. Spaulding avenue.
Albert Rostenkowski (R), 1237. Noble street.
Isaac S. Rothschild (R), 4715 Michigan avenue.
Frank Ryan (D), 2139 W. Thirteenth street.
Frank J. Ryan (D), 6828 Bishop street.

James W. Ryan (D), 3246 E. Ninety-first street.
Edward M. Santry (D), 116 E. Thirty-sixth place.
Henry F. Schuberth (D), 7832 Lowe avenue.
Frank J. Seif, Jr. (D), 1529 Orchard street.
David E. Shanahan (R), 115 S. Dearborn street.
Edward J. Smejkal (R), 560 Bunker street.
Peter F. Smith (D), 1608 S. Union avenue.
William G. Thon (R), 2210 Cortez street.
Joseph A. G. Trandel (D), 1332 Julian street.
Sheadrick B. Turner (R), 21 E. Twenty-eighth street.
John P. Walsh (D), 701 W. Thirty-first street.
Joseph A. Weber (D), 3134 N. Robey street.
Robert E. Wilson (D), 4025 Greenview avenue.
C. A. Young (R), 2809 E. Seventy-sixth street.

199

"THE WORLD'S PRICE."

David Lubin, delegate of the United States to the International Institute of Agriculture at Rome, Italy, in a recently published article states the meaning of the term, "the world's price, "' to be as follows:

What do we mean when we say the "world's price'?

We mean the price that is tendered and accepted in the world's bourses and exchanges, which we might call the world's auction rooms.

And how is this price arrived at?

The first factor in arriving at the world's price is the prevailing opinion as to the state of the world's supply. If the supply be above the normal, the price is expected to fall below the normal; if the supply be below the normal, the price is expected to rise above the normal.

By "supply" we do not mean the quantity produced or available in any one locality, in any one country; we mean the total world's supply. The supply in any given state may be above the normal, and yet if, at the same time, it be below normal for the world, the price in that state should, nevertheless, be high. Or, vice versa, the supply in a given state may be below the normal, yet if the world's supply be above the normal the price in that state should be low.

But the supply is by no means the only factor in the formation of the world's price. There is another factor, and an important one, the cost of ocean carriage. If the average cost of ocean carriage be above the normal it should correspondingly reduce the price paid to the producer below the normal. And, on the contrary, if the average cost of ocean carriage be below the normal it should correspondingly raise the price paid to the producer above the normal.

Therefore, calculations on rational lines for arriving at a knowledge of what the world's price ought to be should, first of all, take into consideration the status of the world's supply, and, secondly, the status of the cost of ocean carriage.

ASSESSED VALUATION OF REAL AND PERSONAL PROPERTY IN THE CITY OF CHICAGO, BY TOWNS, FOR 1913.

Beginning with the year 1909, in accordance with an act passed by the State Legislature increasing the assessed valua-
tion of property from one-fifth to one-third of the full value, the assessed valuation of property for tax purposes, herewith
given, as assessed by the Board of Assessors, then reviewed by the Board of Review and finally equalized by the State Board
of Equalization, is one-third of the assessed actual, or full value.

Real Estate. Personal Property.

Capital Stock. Grand Totals.

$118,664,858

Railroads.
$ 7,250,275

$31,157,899

$397,907,413

35,085,924

12,803,930

1,589,856

216,749,372

Hyde Park

North Chicago

Lake

89,019,988

19,166,565

8,855,780

260,796

117,303,129

Lake View

56,999,752

8,724,367

2,238,376

146,981

68,109,476

TAX RATE FOR THE YEAR 1913 IN THE CITY OF CHICAGO.*