3

8.—15 c

(6.) Stock on Hand at 31st March and Valuations. ■;-■■.'. The following are statements of Sheep and Cattle Accounts, showing valuations as affecting Profit and Loss Account. The valuations are as made by the respective station-managers, and, whilst in individual cases I do not quite agree with them, in the aggregate advance of Bd. per head I fully concur, as representing a value derived from better selecting and grazing.

Valuation of Sheep on Hand.

Valuation of Cattle on Hand.

(7.) Wool Clip.

From this it will be seen that, although our numbers have been reduced, our clip has not shrunk to any appreciable extent, and in fact on the average we have shorn earlier. This supports the higher valuation of sheep.

(8.) Lambing.

(9.) Mortality.

1895. 1896. 1897. Number on Hand. Manager's Valuation. Average. Number on Hand. Manager's Valuation. Average. Number on Hand. Manager's Valuation. Average. North Island South Island* 258,934 212,336 £ 115,415 56,150 s. d. 8 11 5 3 222,339 188,510 £ 80,877 65,025 s. d. 7 3 6 10 203,183 149,071 £ 87,793 48,798 s. d. 8 7 6 7 471,270 171,565 7 3 410,849 145,902 7 1 352,254 136,591 7 9 * South Island, 100,000 merinos are carried.

1896. 1897. Number on Hand. Manager's Valuation. Average. Number on Hand. Manager's Valuation. Average. 21,410 £ 71,421 £ 3 s. 6 d. 8 21,351 £ 71,039 £ 3 s. 6 d. 6

Year. Sheep Bhorn. Average per Fleece. Net Weight Greasy. Net Return at Port of Shipment. Equal per Pound. Net Weight Scoured. Net Return at Port of Shipment. Equal per Pound. 1896 1897 Lb. oz. 378,670 7 1 343,330 7 4 Lb, 2,222,043 2,111,680 £ 70,365 61,503 d. 7-60 *7-0 Lb. 227,464 199,785 £ 9,273 7,483 d. 9'78 *9-0 * Estimated.

1896. i 1897. ■™ l -o ~ Lambs cut and Ewes to Ram. taile(J Percentage. ! Ewes to Ram. Lambs cut and tailed. Percentage. 152,258 117,073 77 128,241 101,089 79

Sheep. Cattle. 1896. 1897. 1896. 1897. Dead and missing. Per. Cent. Dead and missing. Per Cent. Dead and p c I Dead and p fi missing. missing. 39,892 8'44 27,183 6-61 1,205 5-39 787 3-67