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there was but a limited demand during the early months of the year.

The receipts of pork during the year 1902 aggregated 9,824 barrels, and shipments 189,609 barrels. On pages 104 and 105 may be seen a statement of the receipts and shipments of pork from 1860 to 1902, inclusive. Our exports of pork from the port of Chicago during 1902 aggregated 5,119 barrels, valued at $88,397.

Sales of cash mess pork were made at the beginning of the year at $16.85 to $16.90 per barrel, and at the close of the year at $17.00 per barrel; for May delivery at $17.20 to $17.37* on the 2d of January, and at $15.80 to $15.90 on the last day of that month. The market during February was a dull one with a declining tendency recording sales on the 28th at $15.30 to $15.47* per barrel. The trade in March improved and at the close of that month sales were made for May delivery at $16.60 per barrel; the improvement continued through the month of April at a steady pace, sales on the 30th of April being made at $16.75 and at $17.00 on the 15th, for May delivery. Trade increased during May, and sales for July delivery were made at from $16.62* to $17.57|; the improvement continued during the month of June and was distinctly marked at the close, round lots of cash pork selling at $18.30 per barrel.

The following statement is submitted, showing the highest, lowest and closing cash prices of mess pork in each month of the year, and also showing the highest and lowest prices of the year 1901:



Our export trade in live stock during 1902 amounted in value to $44,670,946, or $7,387,930 less than during 1901. The miniber of cattle exported was 392,884; of hogs, 8,268; of horses, 103,029; of mules, 27,586; of sheep, 358,720.

On pages 196 and 197 may be seen statements showing, by states, the number of different kinds of animals on farms and ranches, the average price per head, and value.

On page 48 a statement may be found showing the range of prices per 100 pounds, of cattle, hogs and sheep for each month during the year 1902.

The following table shows the number of animals, including cattle and calves, hogs, sheep and horses, received in Chicago each year from 1880 to 1902, inclusive:
















1894. ...









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Aggregate value.

$148,057,626 183,003,710 196,670,221 201,252,772 187,387,680 173,598,002 166,741,754 176,644,597 182,202,789 203,321,924 231,344,879 239,434,777 253,836,502 249,542,375 228,153.029 200,584.380 187,745,655 216,305,396 229.301.296 233,711.180 262.154.272 283,955,239 312,984.386

The market for lard was an active one throughout the year and prices were higher than during 1901; stocks were kept within moderate dimensions under the management of leading operators, and the influence of a strong demand. Speculative trading was large, both on domestic and foreign account. The export demand was extensive, quite uniform in volume and well sustained during the year, sales ranging from $9.20 to $11.60, the lowest price ruling in February and the highest in September. A weekly statement of prices may be found on page 50 of this report; on page 54 may be seen a statement of monthly stocks of lard in Chicago for a series of years, and onpage 58 a statement of weekly shipments of lard from Chicago. "Seller the month" at the beginning of the year sold from $9.95 to $10.00 per 100 pounds, closing on the last day of January at from $9.25 to $9.27£. Sales of lard for May delivery, at the beginning of the year, were made from $9,874. to $10.02$, closing on the last day of January at from $9.37$ to $9.40. During March prices improved and lard for May delivery sold from $9.27$, during a short period of dullness in that month, to $9.87J, the higher figures prevailing during the latter part of March. The market during April acquired additional strength and sales were made as high as $10.20 for July delivery, and for "seller the month" at $10.07$. An increased demand visited the market in May, causing sales of July lard to reach $10.45. During the month of June the speculative trade was mostly in transactions for September delivery, sales on the last day of June for that delivery were made at from $10.57$ to $10.65. Prices still further improved during the month of July; "seller the month" sold as high as $11.42$ and sales for September delivery at $11.50. Prices during the month of August fell off; "seller the month" was quoted on the 30th at $10.40 to $10.45, and for October delivery at $9.47* to $9.70.

The trade in September showed some improvement in prices for "seller the month," opening at about the same prices as prevailed during the latter part of August, but soon improved and closed at about $11.50 per 100 pounds. On the 30th sales for January delivery were made at from $8.27$ to $8.S5. Prices improved during the month of October and sales for December delivery were made from $8.90 to $10.05, closing at $9.80 to $9.85 on the last day of that month. There was no material change in prices during November and the trade was comparatively dull. Sales for January delivery made in December showed a slight improvement in prices over those ruling during the previous month.

The receipts of lard for the year aggregated 40,758,916 pounds and shipments 382,498,069 pounds, as against 71,504,703 pounds received and 483,379,116 pounds shipped during the year 1901. On page 42 may be found a statement of receipts and shipments, designating the transportation lines over which received and shipped, also showing the monthly receipts and shipments for the year.

The following statement shows the highest, lowest and closing prices realized for prime steam lard during the year; and also the highest and lowest prices obtained each month of the year 1901:

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The history of railroads in this country is not simply remarkable, it is startling. The total railway mileage in the United States at the close of the calendar year 1901 was 198, 787 miles, showing an increase over the mileage of the preceding year of 4,453 miles. The total miles in operation in 1864, at the close of the war, was 33,908 miles. The railway mileage of the country has more than doubled since 1880. The railway mileage of the Southwestern States was, in 1901, 39,242 miles, and of the Northwestern States, comprising Iowa, Minnesota, Nebraska, North and South Dakotas, Wyoming and Montana, designated as Group 7 in the classification of railway returns, 32,640 miles. The railway mileage of the New England States was 7,518 miles, and of the Middle Atlantic States 22,497 miles. The number of locomotive engines at the close of the year 1901 was 39,729, of passenger cars 27,144, of baggage, mail, etc., cars 8,667, and of freight cars 1,409,472. The locomotive works are behind in filling orders, and car works are unable to turn out freight cars fast enough to meet the demand. The capital stock of the railroads of this country amounts to $5,978,796,249, and the funded debt $6,035,469,741. The total cost of construction per mile is $62,926.00 and the net traffic earnings amount to $520,294,727.00.

The number of miles of railroad in Europe, at the close of the year 1900 as published by Archiv fur Eisenbahnwesen for May andJune, 1902, was 176,174; in Asia, 37,469; in Africa, 12,498; in Australasia, 14,922; in North America, 223,447, and in South America, 26,449 miles. The total railway mileage of the world in 1900, as given by the same authority, was 490,959 miles.

Very Respectfully,



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