FORTIETH ANNUAL REPORT. 159 



have doue wonderful tilings, to my certain knowledge. I know of some 

 five hundred dollar per acre crops, and a few double that, but I know 

 of the same in Michigan, and my belief is that while the west has, to date, 

 averaged earlier crops and better color than Michigan, the well cared for 

 orchards of Michigan will be doing business long after those of the west 

 have stopjied bearing. 



The difference in iiavor, in cooking (juality, in freight rates and in 

 cost of land is all largely in favor of Michigan, and my own belief is 

 that the difference in net returns will average on the same side, for Mich- 

 igan is waking up. 



PROSPECTS TWO 500 ACRE ORCHARDS IN WESTERN MICHIGAN. 



The ligurcs in the left hand column are based on returns from actual 

 orchards in first-class location, Avith good soil, and that have had expert 

 care from the beginning. 



The figures in the right hand column are based on ordinary location, 

 average soil, and on the ordinaiy or average care given many Michigan 

 orchards today. 



Original Investment. 



500 acres land (cleared) |21,000 00 |14.000 00 



Ten teams, utensils, harness, tools, etc 6,500 00 3,750 00 



Packing sheds to be built when orchard starts 



bearing 2,000 00 



Sheds and fences 1,750 00 750 00 



Trees and plantings of same 8,250 00 5,000 00 



Total investment |39,500 00 |;23,500 00 



First four years' oi)eration — 1st period — in- 

 come per year on potatoes, beans, and clover, 

 alternating, average 8,500 00 1,400 00 



Expenditures per Year. 



Work on orchard including clover plantings 



on best orchard, |1.50 . .\ |5,300 00 |1,()10 00 



Taxes and ins,, depreciation, repairsi, etc 1,250 00 050 00 



Overseeing and incidentals 1,500 00 750 00 



Total expenditures' r)er year i|8,050 00 |3.010 00 



Net income per year 450 00 *1,G10 00 



Net income, four years 1,800 00 *r),440 00 



Value of orchard end four years 02,500 00 30,000 00 



Total assets end four years' 04,300 00 23,500 00 



Less original investment |39,500 00 |23,500 00 



Net profit four years $24,800 00 | 60 00 



Net profit per year 6,200 00 15 00 



Interest on investment per year 16% 1-15 of 1% 



