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crude and refined petroleum. There was no considerable variation in the price of coal during the year.

In the metals and implements group the increase in the average price for 1910 over 1909 was 3 per cent. Twenty-two of the 38 articles in this group increased in price, 4 remained unchanged, and 12 decreased in price.

Twenty-one of the 28 articles included under lumber and building materials increased in price in 1910 as compared with 1909. Some of the products showing an increase in price were linseed oil, tar, turpentine, and glass. All the grades of lumber except spruce and yellow pine siding advanced in price during the year. In this group as a whole there was an increase in price of 10.7 per cent; one of the articles showed no change, and 6 articles decreased in price in 1910 compared with 1909.

The increase in the average price of drugs and chemicals in 1910 over 1909 was 4.1 per cent, the articles showing an increase in price being glycerin and opium. Muriatic acid, grain alcohol, and quinine showed a decrease in price.

House-furnishing goods as a whole decreased 0.1 per cent in price. Six of the 14 articles decreased, while 5 increased in price.

In the miscellaneous group there was a marked increase in the prices of rubber, cottonseed oil, and malt. There was no change in the price of plug tobacco and wrapping paper, while there was a decrease in the prices of 4 articles. Taken together, the group of miscellaneous articles increased in price 5.7 per cent.

The per cent of increase or decrease in the average wholesale price for 1910 in each of the 257 articles as compared with the price for 1909 is shown on pages 340 to 343.

In addition to the classification into the nine groups named above, the 257 articles included in the investigation have been divided into two general groups, designated as raw commodities and manufactured commodities. A clearly defined classification of this character can not be made, but the commodities here designated as raw may be said to be such as are marketed in their natural state and such as have been subjected to only a preliminary manufacturing process, thus converting them into a marketable condition, but not to a suitable form for final consumption, while the commodities here designated as manufactured are such as have been subjected to more than a preliminary factory manipulation and in which the manufacturing labor cost constitutes an important element in the price. In the group designated as raw are included all farm products, beans, coffee, eggs, milk, rice, pepper, tea, vegetables, raw silk, wool, coal, crude petroleum, copper ingots, pig lead, pig iron, bar silver, spelter, pig tin, brimstone, jute, and rubber--a total of 54 articles. All the other articles are classed as manufactured commodities.

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As thus grouped, the average wholesale price of raw commodities for 1910 was 2.1 per cent above that for 1909, and the average wholesale price of manufactured commodities for 1910 was 4.6 per cent above that for 1909.

The following table shows for all commodities the per cent that the average price for each month of the year 1910 was above or below the average price for the year and, in the last column, the per cent of decrease of the average December price below the average price for each preceding month:

COMPARISON OF AVERAGE PRICE FOR EACH MONTH OF 1910 WITH THE AVERAGE PRICE FOR THE YEAR, AND OF THE AVERAGE PRICE FOR DECEMBER, 1910, WITH THE AVERAGE PRICE FOR EACH PRECEDING MONTH OF THE YEAR.

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In March, 1910, prices were at the highest point of the year, being 1.7 per cent above the average price for the year. Prices advanced from January to March, declined each month from April to July, advanced slightly during August and September, declined slightly again in October and November, and advanced slightly in December.

From the figures in the last column of the table it is seen that the average of wholesale prices in November, 1910, were lower than the average price for any other month of the year. The price for December was 0.2 per cent above the November price and 2.5 per cent lower than that for March, the month of highest prices.

The change that took place in wholesale prices month by month during 1910 in each of the nine groups already referred to will be seen in the following table:

COMPARISON OF THE AVERAGE PRICE FOR EACH MONTH OF 1910 WITH AVERAGE PRICE FOR THE YEAR, AND OF AVERAGE PRICE FOR DECEMBER, 1910, WITH THE AVERAGE PRICE FOR EACH PRECEDING MONTH OF THE YEAR, BY GROUPS OF COMMODITIES.

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1 Same as average price for the year.

COMPARISON OF THE AVERAGE PRICE FOR EACH MONTH OF 1910 WITI AVERAGE PRICE FOR THE YEAR, AND OF AVERAGE PRICE FOR DECEMBER, 1910, WITH THE AVERAGE PRICE FOR EACH PRECEDING MONTH OF THE YEAR, BY GROUPS OF COMMODITIES–Concluded.

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1 Same as average price for the year.

2 Same as price for December. In March, 1910, the wholesale prices of farm products were 10 per cent above the average price for the year, this being the highest point of the year. The lowest monthly price of the year was December, being 16.9 per cent below the price for March. The movement in prices during the year for each of the articles in this and other groups will be found in Table II, pages 412 to 464, or the full details of the prices throughout the year may be found in Table I, pages 362 to 411.

Food commodities were at their highest price in March and at their lowest in June, when they were 1.5 per cent below the average price for the year. In December they were 1.7 per cent higher than in June.

The price of cloths and clothing was above the average price for the year during the first five months and below the average for the other seven months. From January to August each month showed a recession from the price for the previous month. From September to December prices advanced each month over the prices for the month before. The January price was 2.6 per cent above the average price for the year and the December price was 3.2 per cent lower than the price in January.

The price of the fuel and lighting group was above the average price for the year from January to March, the same price in April, and below the average from May to December. The highest price was in January, when the price was 4.5 per cent above the average for the year. In December the price was 1.2 per cent above the average price for October, the month of lowest prices, and 5.6 per cent lower than the price for January.

The price of the metals and implements group was at the highest point of the year in April, when the price was 2.3 per cent above the average price for the year; from that time to August the price de clined each month. The month of lowest price was December, when the average price was 3.6 per cent below that for April.

The price of lumber and building materials in the month of January was 2.5 per cent below the average price for the year. There was a material advance from January to November, when the average price was 2.2 per cent above the average price for the year. The price in December was 2.1 per cent above the average for the year and 4.8 per cent higher than the price for January.

Drugs and chemicals as a group were at their lowest price for the year in April and August, being 0.7 per cent below the average price for the year. In December the price was 1.5 per cent above the average for the year and higher than the price for any other month

of the year.

House-furnishing goods were below the average price for the year during the first three months of the year, above the average for the next eight months, and the same as the yearly average for the last month of the year. The lowest price for this group was in January, when the price was 2.2 per cent below the average price for the year. The price for December was 2.3 per cent higher than in January.

The price of miscellaneous articles was below the average price for the year during the first three and last three months and above the average price from April to September. The price in December was 2.9 per cent below the average price for the year and 5.6 per cent lower than in May, the month of highest prices.

A few of the articles showing the most marked variation in price within the year 1910 are here noted. Plain to choice wethers declined from an average of $8.2750 in March to $3.6813 in November, this being a decline of 55.5 per cent. Heavy hogs declined 28.7 per cent from March to November; corn, 26.4 per cent from January to December; d'essed mutton, 50.2 per cent from April to November; corn meal, 31.9 per cent from February to December; mess pork, 27.7 per cent from March to November; short-rib bacon, 26.4 per cent from March to December; smoked hams, 25.1 per cent from July to December; lard 25.4 per cent from March to December; dressed poultry, 24.2 per cent from April to December; Elgin creamery butter, 19.7 per cent from January to June; Bessemer pig iron, 20.6

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