A knows I am going to buy 1,000 cases, or 500 cases, or 200 cases of
eggs, and he sends an agent over. He says, ''Do you want to buy
some eggs?'' ''Yes,'' I say, "What have you got?" "I have got
1,000 cases down in the warehouse." They may be "nice extras,"
"extra firsts," or "dirties" or whatever they are, and he mentions
two lots that seem to be attractive to me. I say, "What is your
price on those two lots?" He says, "Well, I will sell you these for
35 cents and those over there for 38 cents." I say, "Send me up
five cases of each kind."

The Chairman. And he examines the eggs ?

Mr. Briggs. No; I examine the eggs. He then goes down and
orders five cases of each lot sent to my place of business. I run
them through my candling room. I may do it myself, or if I have a
man to do it he reports back to me what the general conditions of
those eggs is, how much shrinkage they show, and so on. If his price
is right, I buy them. If I believe the loss is too great, I won't give
him within 5 cents of what he asks for them.
The Chairman. Still, if I should place an order with you for five
cases of extras, it would be up to you to make them extras.
Mr. Briggs. Yes, sir.
The Chairman. And you would grade them.
Mr. Briggs. Yes, sir.
The Chairman. According to the rules of your exchange?

Mr. Briggs. Yes, sir.
The Chairman. Well, you really apply a standard, do you not ?

Mr. Briggs. In a way, yes.
