ASSOCIATION OF BREEDERS OF LIVE STOCK. 601 



of the Association hare a very satisfactory field in which to pursue their 

 vocation. 



The President referred to the contention between the breeders of re 

 corded live stock and the raisers of breed cattle and sheep relative to 

 their profitableness to the stock raiser, and said that the value of all live- 

 stock would be materially enchanced by the breeding from thoroughbred 

 sires entirely. The live stock industry was said to be one requiring vig- 

 ilance and learning. It is not an exact science like many of the mechan- 

 ical trades, and requires the exercise of brain as well as brawn to make 

 it a success. The general aim of the successful agricuturist in all lines 

 of production was said to be the higest average of merits at the lowest 

 minimum cost, thereby selling close to the top of the market with an 

 output that has cost less than it really sells for. 



The general business situation was said to have been greatly improved 

 during the last year. Exports have increased and live stock in general 

 has been better property than for some years. Improved and registered 

 stock is realizing higher prices and upon the whole, the Association was 

 said to meet under favorable circumstances. The President here threw 

 in a few T remarks concerning the late war and the acquisition of foreign 

 territory. He said it did not require the wisdom of seer to assume 

 that the Anglo-Saxon race is setting out on a journey that will take them 

 around the globe at no distant day. The agriculturists were advised 

 to line up on one side or the other of the great questions which the nation 

 will soon have to confront. Breeders of live stock are captains of ag- 

 riculture and agriculture is the foundation of our prosperity. 



The President announced the death of three members and former 

 officers of the Association — L. B. Townsend, Ionia; J. H. Taft, Mendon. 

 and Homer A. Flint, Detroit. 



The Secretary-Treasurer made financial report for the year as follows: 



Balance on hand from 1897 U 40 



To Postage $2 50 



Printing programs 2 25 



Paid Passenger Agents' Association 5 00 



Membership certificates '. 1 25 



Mailing same, stamped envelopes 1 20 



Additional postage 24 



Expense on Record Book to Sec'y elect 30 



Received from membership, 1808 13 50 



|12 74 $17 00 



Check to Sec'y elect 5 16 



$17 00 $17 00 



Balance on hand to 1800 5 16 



Prof. Mumford of the Agricultural College then presented a paper on 

 "Wool and Its Preparation for Market," in which he described the ideal 

 condition in which wool should be marketed ; he also gave some reasons 

 why Michigan wool does not bring the highest price in the market, the 

 main reason being lack of care in its preparation and in being kept free 

 from foreign bodies. The paper was quite thoroughly discussed by Mr. 

 Peter Voorheis of Pontiac, a gentleman who has had large experience in 



