BIKDS ON THE HALVES. 53 



10. In the event of any deaths or losses of the birds after 

 the last sale of feathers, or any deficiency at the last sale to 

 meet former losses, Mr. B. shall pay to Mr. A. the sum of £10 

 sterling for such bu'd so deficient. 



11. The feathers not to he taken ofteuer than once in eight 

 months. 



Done at tin's day of 18 . 



Witnesses to f C. cj^ i fA. 



Signatures {d. ^^^^^^Ub. 



We have here supposed tliat the farmer is to get 

 a share in the increased value of the birds when sold ; 

 we know that this is not general, but we do not see 

 that he has a fair chance of benefiting himself unless he 

 gets this, at any rate not in proportion to the risk he runs. 



Allowing for those that die having given no feathers, 

 or only a few, we cannot safely reckon on more than 

 £12 a head return all round, which would give £600 ; 

 but taking 10 per cent, to be a fair average for deaths 

 and losses, this will take off £100, leaving £250 each 

 for the year's return, but out of his share the farmer 

 will have to pay all expenses. 



But supposing present prices to be maintained, 

 at the end of the three years the birds would be worth 

 £50 each. Now, allowing 10 per cent, per annum for 

 deaths, there would be thirty-seven birds to sell, which 

 would give £1,111 more than the original cost; and 

 if the farmer got a third, he would have £370 to 

 receive. It would then have paid him handsomely. 



