TEA AND SILK FAEMING IN NEW ZEALxVND. 



231 



before tlie reader a kind of rough balance sheet of four years 

 anticipated chasericultural outlay and returns, to serve as an 

 outline of what the reality may eventually be. 



Pro forma balance sheet of the proposed Xew Zealand Chaser- 

 cultural Company (Limited), showing the probable outlay and 

 return from year to year until the fifth year on the chasericul- 

 tural department only, when both tea and silk industries might 

 be expected to be in active operation, and the tea gardens had 

 yielded their first crop. 



