10 March, 1916.] Share-farminrj Rcsult.<. 179 



SHARE-FARMING RESULTS. 



Last year an appeal was made to the farmers of the State to sow as 

 large an area as possible with wheat in anticipation of good prices. The 

 capacity of many wheat-growers to respond, however, was limited in 

 many cases by lack of capital, owing to the failure of the previous 

 harvest through drought. A number of city investors interested them- 

 selves in the extension of the wheat area, and expressed a desire to 

 invest money in wheat growing without engaging in the work them- 

 selves. 



They wanted to get in touch with men wlio had land but who were 

 without the means to secure extra plant and extra teams to put in addi- 

 tional areas of wheat. 



Through the Department of Agriculture a number of such farmers 

 and investors were put in touch with one another, and arrangements 

 made for the investors to finance additional areas sown to wheat. One 

 investor has just forwarded to the Depai'tment a summary of the results 

 of his investment, and in expressing his satisfaction at the result inti- 

 mates that he has concluded arrangements for financing larger areas for 

 th'i coming year. 



The investor referred to financed 204 acres in Borung, and 500 acres 

 in the Mallee on the share system. He paid the farmer a fixed sum for 

 putting in and taking off the crop, supplied two-thirds of the seed and 

 manure, and took two-thirds of the crop. The results were as follows: — 



Borung. 



Outlay — 



£ s. d. 



1. Cash advance to farmer for working 204 acres of land at £1 . . 204 



2. Seed wheat, at 7s. per bushel . . . . . . . . .50 



3. Two-thirds of .5 tons of superphosphate .. .. .. 15 10 3 



4. Sacks . . . . . . . . . . . . 35 15 



Total cost . . . . . . . . .. 305 13 3 



lift urn — 



Investor's share of wheat, 2,034 bnsh(^!s. 



Mali.ee. 

 OtitUiil — 



1. Cash advance to farmer for wi>rkini; .■•00 acres of wheat at His. 



2. Seed wheat and freight . . 



3. Manure 



4. Hags and freight 



5. Cartage, 8 miles 



Total cost . . . . . . .■)S-> (•) () 



Return. — 



Investor's share of wheat. 3,744 luisiicls .md .j2 ions \\\y. 



For a total investment of £890 19s. 9d., therefore, lie has received 

 6,678 bushels of wheat at the railway siding, and 5'J tons of hay. 



If the value of the hay is placed at 30s. a ton, the total cost of the 

 wheat to Ihe investor would be £813. or 2s. 5}d. per bushel. His initial 

 advance from the wheat pool, however, amounts to 2s. Gd. per bushel, 



