52

[W. D. I'OWDKELL.

1.—13

1908-9. £ s. d. Total milk for year ... ... ... ... ... 830 11 9 Powdrell's half pigs soltl ... ... ... ... ... 23 10 (I Half calves sold (14 at 9s. 6d.) (net) ... ... ... ... 3 18 3 Half calf-skins (77 at 2s. 7t1.) ... ... .. ... 4 3 4 Total year's earnings ... ... ... ... £862 3 4 £ a. d Share milkers' wages (milk share above) ... ... ... 332 0 10 Rent or interest paid by Powdrell (5| per cent.) ... ... 269 10 10 Rates ... ... ..: "... ... ••• ... 12 4 9 Interest, cows (£1,025 Pis. at 6 per cent.) ... ... ... 61 10 0 Depreciation, cows (5 per cent.) ... ... ... ... 50 0 (I Crops and haymaking ... ... ... ... ... 25 (I 0 £750 6 5 £ s. d. Milk, pigs, &c. ... ... ... ... . . ... 862 3 4 Expenses ... ... ••• ■■• •■• ■•• 750 6 5 Profit ... ... ... ... ... £111 16 11 Powdrell's profit over interest, to cover his management, depreciation on buildings, fences, land, repairs, harness, cans, replacement of stock by deaths, meal for pigs and calves, &o. = £111 16s. lid. Share milkers received— £ s. d. Two-fifths milk ... ... ... ... ... 332 0 10 Half pigs sold ... ... ... ... ... 23 10 0 Half calves sold (14 at 9s. 6d.) (net after commission) ... 3 18 3 Half skins sold (77 at 2s. 7d.) (net) ... ... ... 434 £363 12 5 Total share milkers' wages for year, .£363 12s. stl. s 7{d. per hour. Note.—Pigs grossed 10s. 5Jd. per cow; calves grossed 3s. 7d. per cow (as nearly all were killed for skins) : total (gross) per cow (calves and pigs) 14s. I realized it was better lo sell out on any terms possible and invest the money. This I did, selling to B at £65 per acre—£4lo down on land, 7 per cent, on all money left on cows : total, £1,003 9s. 6d. at 7 per cent. Example No. 3. 1909-10. B purchased from Powdrell at £65 per acre (5 per cent.), £1,003 9s. 6d. Cows, 7 per cent. Total capital paid (land and cows), £410. £ s. d. B paid me off land and cows ... ... ... ... 639 11 2 B received— £ s. d. Milk ... ... ... ... ...' ... 1,598 15 0 Calves (gross—no feed allowed) ... ... ... ... . 28 15 3 Pigs (ditto) ... ... ... ... ... ... 66 7 1 Actual return pigs and calves produced ... ... 1,593 17 4 To reduction land ... ... ... 639 11 3 After deduction for land and cows ... ... 954 6 2 Expenses— B 's interest in land (£7,902 10s. at £ s. d. 5 percent.) ... ... ... 395 "2 6 Interest on cows (8 per cent, on £1,003) ... 80 0 0 Living for family of five at 7s. (3d., clothes ss. weekly ... ... ... 162 10 6 Rates ... ... ... ... 25 0 0 Crops, haymaking ... ... ... 20 0 0 682 12 6 Profit ... ... ... ... ... £271 13 8 Add amount paid off land (as above) ... ... ~. ... 639 11 2 911 4 10 Less wages of family at Is. per hour ... ... 600 0 0 Net profit ... ... ... ... £311 410 After allowing five milkers, working eight hours per day for 300 days, Is. per hour, or 133 hours per cow— £600, B made £311 4s. 10d., but did not allow for any depreciation for land, cows, machinery, plant, deaths of cows, or cost of bulls; and only allowed 7s. 6d. for each family for food and ss. for clothes. 1910-11. £ s. d. B paid off land to Powdrell ... ... ... ... 126 14 6