78 



The daily ration per head consisted of 18 to 20 ponnds of dry fodder 

 or its equivalent and G^ to 9f jjounds of grain feed. 



Summary of financial record. — The following- talinlar summary is 

 condensed from the details given in several tables in the bulletin. 

 " The estimated value of the manure " is obtained by deducting 20 

 per cent of the valuable fertilizing ingredients of the feed, which are 

 assumed to be sold witli the milk, and reckoning the rest at 16^ cents 

 per pound for nitrogen. cents for phosphoric acid, and 4^ cents for 

 potash, these being current valuations for the same ingredients in 

 connnercial fertilizers. 



Rccapltulatlou of fj/Hiiieial record of cows, extremes aiul average. 



Period diiring which cows were milked (days) 



Average yield of milk per day (quarts i . _ 



Total cost of feed consumed 



Estimated value of manure produced from feed consumed . 



Difference ( net cost of feed consumed ) 



Receipts from milk sold at 3 cents per quart 



Estimated value of manure produced from feed 



Total value received from feed consumed 



Cash paid for cow at beginning of milking period 



Cash received for cow at end of milking pei-io 1 



Difference (actual cost of cow) : __ 



Actual cost of cow _ _ 



Total cost of feed consumed _ _ _ . , 



Total cash outlay 



Most 



profitable 



cow. 



584 



n.6 



Least 



profitable 



cow. 



asi 



Average 



of twelve 



cows. 



402 

 11.1 



Total value (milk and manure) received for feed consumed . 

 Total cash outlav 



Difference (total return for feed consumed) 



Total return f (ji- feed consumed 



Estimated value of manure produced from feed 



Difference ( return in excessof estimated value of manure) 



36.32 



-34.25 



15.13 



The " return for feed " rejDresents what the feeder receives for 

 labor, housing, interest on capital invested, risk of life of animal, etc. 

 The estimated value of the manure makes up a large part of the 

 " total value received " and hence the larger part of the return. 

 Thus, in the average for the twelve cows, the total return was $r)0.-13 

 and the estimated value of the manure was $35.30, making the return 

 above the estimated value of the manure only $15.13. 



Among the noticeable results of the experiments are the wide varia- 

 tions in the profits obtained from the individual cows and the fact 

 that this profit did not depend on either the breed or the length of 

 the feeding j^eriod. The total return for the feed consumed ranged 

 from $93.25 gain to $3.97 loss. The return above value of manure in 

 like manner ranged from $36.32 gain to $34.25 loss. The most profit- 



