46 OSTRICH-FARMING IN SOUTH AFRICA. 



return, is a half of the total investment under indifferent 

 management, or Avhere the buildings, &c., are of a 

 solid, permanent kind, and the future is looked to as 

 well as the present ; or a third, Avhere the screw is put 

 on, and the improvements are not of such a permanent 

 character. 



No doubt this statement will make many farmers 

 who are not in the habit of keeping books, and looking 

 carefully into things, exclaim ^^ Nothing of the sort." 

 To such I say, sit down, price and total up the cost of 

 everything employed, and you will be astonished. 



At any rate, taking the prospectus now before me 

 of a company lately successfully floated in Grahams- 

 town, and for which hundreds of shares were applied 

 for more than were available, and in which the pro- 

 moters promised a net return of over 40 per cent, the 

 first year, and over 100 per cent, in subsequent years, 

 the investment was : — 



Farm -with buildings, fencing, &c., &c. ... £4,225 



Birds and eggs 5,775 



Available for other purposes 2,000 



12,000 



The "available for other purposes-" would mean 

 transfer dues, wagons, oxen, horses, carts, implements, 

 current expenses, &c. So that more than one-half was 



