and shipments since the year 1901, receipts in 1901 being 10,232,285 barrels.

On page 7 may be seen a statement of prices of various grades in each week of the year.

A statement of the prices at the close of each year from 1899 to 1901, inclusive, is submitted:

The expansion of our foreign trade may be realized by a perusal of the following statement of our exports of flour each fiscal year from 1870 to 1902, inclusive:

There have been some features of this trade during the year which have been of advantage to the miller in Chicago with reference to his export business. There has not been so much discrimination in freight rates nor for so long a period against Chicago, and in favor of mills located north and west of Chicago, as formerly. Since December, however, a decided discrimination has been in operation in favor of mills north and west of us of at least five cents per barrel. Another feature is that allowance has been made by transportation lines of 2 cents per 100 pounds on all shipments destined for export. This concession was the result of strong efforts to place, as far as freight rates are concerned, flour on an equal basis for export with wheat.

HAY.

The trade in this article was an active one during the year and was greater in volume than during the preceding year. The crop as reported by the United States Agricultural Department was, in tonnage, 59,857,576 tons, valued at $542,036,364, the the largest ever recorded. The State of New York raised 70,748,364 tons; Pennsylvania 51,702,028 tons; Ohio 40,382,024 tons; Illinois 36,553,749 tons. The importance and value of this crop, considered both in its direct and indirect effect upon manifold industries, can scarcely be overestimated. The average quality of the crop was below that of the preceding year, it being 85.7 per cent, as against 91.3 per cent in November, 1901, and 89.7 per cent in November, 1900.

The local demand for hay absorbed nearly all of the receipts; a comparatively small quantity was shipped to the eastern markets from Chicago, those markets being supplied mainly by Michigan and Indiana.

On page 96 of this volume may be seen a statement showing the receipts and shipments of hay; the lines by which received and shipped, and also a statement showing the monthly receipts and shipments.

On page 97 may be found a statement of prices of various grades of hay for each month of the year. The United States exports of hay during the fiscal year ended June 30, 1902, aggregated 153,431 tons, valued at $2,580,622, as against 89,364 tons, valued at $1,476,870 exported during the preceding fiscal year; 72,716 tons, valued at $997,741, exported during the fiscal year ended June 30, 1900, and 64,916 tons, valued at $58,992, exported during the fiscal year ended June 30, 1899.

Efforts are being made, which we trust will meet with early success, to increase the facilities for disposing of consignments of hay promptly upon arrival. This will be of immense advantage not only to the railroads, but to all parties concerned. Efforts are also being made through the local trade here, supplemented by the efforts of the National Hay Association, to secure uniformity in the manner of packing hay, in order that it may be handled with rapidity and economy.

SEEDS.

The receipts of timothy seed during the year aggregated 49,959,011 pounds and shipments 40,111,410 pounds, as against 33,685,111 pounds received and 40,661,267 pounds shipped during the preceding year; 43,764,951 pounds received and 46,218,163 pounds shipped during the year 1900; 66,233,991 pounds received and 52,430,340 pounds shipped during 1899; 73,734,806 pounds received and 54,330,625 pounds shipped during 1898, and 57,079,591 pounds received and 46,417,248 pounds shipped during the year 1897. The receipts of clover seed during the year aggregated 7,770,868 pounds and shipments 6,339,522 pounds, as against 7,570,308 pounds received and 8,301,434 pounds shipped during the preceding year; 10,393,821 pounds received and 8,812,802 pounds shipped during the year 1900; 7,855,759 pounds received and 12,330,932 pounds shipped during 1899; 9,105,852 pounds received and 11,303,427 pounds shipped during 1898; 13,007,821 pounds received and 17,230,467 pounds shipped during the year

1897.

Of other kinds of grass seeds, the receipts during the year aggregated 13,363,688 pounds and shipments 11,723,284 pounds, as against 16,369,131 pounds received and 11,324,410 pounds shipped during the year 1901; 10,628,523 pounds received and 13,594,203 pounds shipped during 1900, and 10,136,159 pounds received and 11,318,254 pounds shipped during the year 1899.

CLOVER SEED.

The market for clover seed was in the main a conservative one and the general trend of prices was downward; the contract grades sold from $8.25 to $11.30, which did not materially vary from that of 1901. The spring trade was active and there was an evident willingness to realize, as prices had held high since 1900; and from $10 at the beginning of the year the prices declined to from $8.50 to $8.35. Dealers were fortunate in disposing of their accumulations, to a large extent, at good prices. From this point the market was slow and dragging until September, when prices improved to $9.00 to $9.50. Unfavorable weather produced some anxiety as to the crop, which restored confidence in prices for good to choice seed, and sales were made at $11.00 to $11.25 in October. The element of uncertainty, however, was not eliminated and transactions were devoid of any speculative character.

The year closed with sales of prime seed at $10.85 per 100 pounds. A statement of weekly prices may be seen on page 91 of this volume.

The month of the largest receipts was November, when 2,612,460 pounds were received. The month of the largest shipments was March when 1,807,307 pounds were shipped.

A comprehensive statement may be found on page 89, showing the names of the transportation lines over which received and over which shipped; and also showing monthly receipts and ship

ments.

The exports of clover seed for the year aggregated 7,256,573 pounds, valued at $594,733, of which 2,894,027 pounds were shipped to Germany and 2,441,008 pounds to the United Kingdom.

TIMOTHY SEED.

Timothy seed ranged in value from $5.00 to $6.20 per cental at the beginning of the year for ordinary to prime contract grades. The range for the year was from $2.00 for very undesirable lots, to $7.35, the lowest prices prevailing in November and December, and the highest prices in May. The advent of the new crop year, promising a large yield, imparted a downward tendency to prices. The prevalence of rains over the producing regions caused considerable damage and much of the seed was badly discolored, resulting in wide fluctuations in prices. The closing sales of the year were made at $4.25 for strictly prime.

The Chicago, Burlington & Quincy Railway brought 20,441,867 pounds, which was largely in excess of the number of pounds brought by any other line. The 4 ports aggregate 5,966,986 pounds.

On page 89 may be found a statement showing the routes by which received and shipped, and also showing the monthly receipts and shipments. The month of the largest receipts and shipments was September, when 14,906,715 pounds were received and 11,047,211 pounds shipped.

A large portion of the sales of this seed was made by sample and without special reference to grade. Some samples of a particularly good color, on account of an admixture of dirt, may not inspect "prime," and yet at the same time may be very desirable and command high prices somewhat out of proportion to the prices

paid for regular contract grades. A very close examination is made of samples, and experts select lots adapted to the character of the demand. For this reason there is a great variation in quotations, and it is difficult to give an accurate idea of prices obtained for a great variety of lots of this seed.

FLAXSEED.

The trade in flaxseed was dull throughout the year.

The crop was estimated at about 25,000,000 bushels; its quality was inferior to that of the preceding year, it being estimated that only 53 per cent. was of "Contract" grade as against 80 per cent. of the crop of 1901.

The quantity exported aggregated 3,874,033 bushels, valued at $6,031,887, of which 1,098,323 bushels were shipped to the United Kingdom; 695,905 bushels to the Dominion of Canada; 995,527 bushels to the Netherlands; 597,323 bushels to Belgium, and 286,595 bushels to France. There was an extensive demand for oil and a steady foreign trade in oil cake, owing to the prevailing high prices for feeding grades of all kinds of grain.

A comprehensive table of prices may be seen on pages 86, 87 and 88 of this volume; and on pages 104 and 105, a statement showing receipts and shipments of flaxseed for a series of years. Speculative business in this article was smaller during the year than for several years. A marked feature of this business was that a small portion of the flaxseed arriving in this market was handled through public warehouses.

The receipts of flaxseed, as elsewhere stated, during the year aggregated 4,737,667 bushels and shipments 1,254,780 bushels. I refer for a full statement of receipts and shipments found on page 90 of this volume.

PROVISION TRADE.

The trade in provisions was one with unusual characteristics, mainly occasioned by high prices for the coarser grains used for feeding stock. Under ordinary conditions receipts of hogs would have been quite small during the first months of the year, as there were comparatively few good hogs to come to market, but it soon developed that high prices, for corn and oats particularly, induced free shipments to market of immature hogs, and as a result there were large stocks of pork at provision packing points for which