8.— 15 d

Cattle.

Note.—lB97 : Estates since sold are omitted. Our sales have, owing partly to the disposal of the Arowhenua and Albury Estates, and part of Eskbank Estate, been less by 43,827 sheep; but, comparing the sales on the stations we are at present working there is an increase of 9,929. Cattle show a decline on last year's rates of ss. per head, thus affecting profits as compared with last year to the extent of £959.

Stock on Hand and Valuations at 31st March, 1898.

The valuations of sheep stand practically as at March last year. In the North, market values have held somewhat better than elsewhere. In the South, under forced sale, prices were depressed, but for good stock with holding capabilities values kept firm. Cattle values have not been so fortunate, an estimated decline over all of 2s. lid. per head having been provided for, or £3,224, which, added to the reduced amount on sales, &c.—£9s9—would, had prices remained as last year, have enhanced this twelve months' profits by a total of £4,183.

Wool-clip.

Note.—Stations disposed of are excluded.

3

Year. Number sold. Net Proceeds. Average. 1897 1898 3,606 3,836 £ 20,761 21,078 £ s. 5 15 5 10

1897. 1898. N Tand. 0n 1 Average. Number on hand. Valuation. Average. Shi ;ep. North Island South Island 203,183 149,071 £ 87,794 48,797 £ s. d. 0 8 7 0 6 7 192,454 141,543 £ 83,075 45,556 £ s. a. 0 8 7 0 6 5 Total 352,254 136,591 0 7 9 333,997 128,631 0 7 9 Ga, ■■tie. 21,351 I 71,039 i 3 6 6 I 22,111 70,284 3 3 7

1897. 1898. Sheep shorn. Lambs shorn. Average per Fleece. Sheep shorn. Lambs shorn. Average per Fleece. 300,282 17,084 Lb. oz. 7 4 2 10 298,263 20,727 Lb. oz. 7 14 2 4 Net Beturn for the Two Years. 1897. 1898. Net Weight. Net Return at Port of Shipment (exoluding Insuranoe). Equal per Pound. Net Weight. Net Return at Port of Shipment (excluding Insuranoe). Equal per Pound. rreasy Icoured 1,866,251 180,569 £ 53,762 6,980 d. 6-91 9-27 1,979,878 227,462 £ 57,214 8,399 d. 6-93 8-86 2,046,820 60,742 7-12 2,207,340 65,613 7-13