CHICAGO REPRESENTATIVES IN LEGISLATURE George U. Lipshulch (D), 920 S. Ashland boulevard. Christian M. Madsen (S), 3220 Cortez street. James T. Prendergast (D), 1233 S. Lawndale avenue. James W. Ryan (D), 3246 E. Ninety-first 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- Real Estate. Personal Property. Capital Stock. Grand Totals. $118,664,858 Railroads. $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.* (*) Tax rates apply to the $100.00 assessed valuation, which is one-third of the actual or full value. (a) Includes city corporate, interest, sinking funds, tuberculosis sanitarium and public library. (b) Includes educational and building purposes. (c) Part of township within city limits. RATE OF TAXATION AND AMOUNT OF TAXES LEVIED BY THE COUNTY CLERK FOR ALL PURPOSES IN THE CITY OF CHICAGO FOR THE YEARS 1913 AND 1912. Rate in Taxes Levied 1913. in 1913. 944,970.54 0.10 940,450.17 1.05 10,308,769.55 1.05 9,874,726.79 Public Schools, Buildings. 0.46 4,516,222.84 0.34 3,197,530.58 Public Library ..... 0.04 392,715.03 0.04 376,180.07 |