98 

 FINAXCIAL STATEMENT OF THE SUMMER FEEDING. 



As stated before, the cattle in Lots 4 and 5 cost 3V2 

 cents a pound in the fall of 1909. These cattle were fed 

 through the winter of 1909-"i0 on a light ration of feeds 

 as heretofore outlined. \Mien spring arrived, and the 

 expense of the winter feeding had been added to the fall 

 price, the steers had cost ip4.41 and $4.60 per hundred- 

 weight respectively. These were the values placed upon 

 them at the beginning of the summer feeding. April 2. 

 1910. On August 26, 1910, they were sold for $4.50 pe:- 

 hundredweight on the farm, after a 3 per cent shrink. 



The common cattle in Lots X and Y were also pur- 

 chased in the fall of 1909, costing, however, only 2^/4 

 cents a pound. They ate no expensive feeds during the 

 winter months as they were turned out on the open 

 range. On April 23, 1910 they were taken off this 

 winter range and weighed again, and it was learned that 

 each steer had gained 10 pounds during the winter. 

 Owing to the fact that they had been fed no feeds during 

 the winter upon which a price was placed (open rang; 

 has no value placed upon it) they were really cheaper 

 in the spring of 1910 than they were the previous fall 

 as they had gained in weight. This condition of afYairs 

 is, of course, very unusual. When this increase in 

 weight was taken into consideration, the cattle cost $2.21 

 per hundredweight the spring of 1910; at the begin- 

 ning of the summer work this value was placed upon 

 them. On September 2, 1910 they were sold and shipped 

 to the Atlanta market, realizing $3.87y2 per hundred- 

 weight for Lot X and $3.60 per hundredweight for Lot Y. 



