442 
MINNESOTA STATE HORTICULTURAL SOCIETY. 
has not been made to appear more favorable than can be realized in practice. 
Each item is numbered, and following the financial statement will be found 
notes on each according to number, wherever explanation seems necessary. 
(1) 
(2) 
(5) 
(6) 
(7) 
(8) 
(9) 
(10) 
(a1) 
{12) 
(13) 
(14) 
(15) 
IMMEDIATE OUTLAY. 
100,000 acres timber land containing pine estimated at 
625:000!000 Meet at Samper wIVIO s cecoticlsterets 2 cleat ser cete eaenerele $2,500,000.00 
380, JOOTAGhES AL O12 Gy PCIwaGlenen «pte ciate « seiviacriioteter. 487,237.50 
$2,987,237.50 
Prousessandthapnsmys conec sen Dae ee eee enna 15,000.00 
Elorsessumplenentsy etc n2 .arsom lee eitertciee celeron levee ns 3,000.00 
MotaleimmediatexOutlayeee ee meee eee ee cers 3,005,237.50 
IMMEDIATE INCOME. 
By sale of trees now overripe and beginning to deteri- 
orate, and which should be cut at once to save loss, esti- 
mated at two-thirds: present stand |. lis. > .tsse seeere oe 2 $1,666,666.67 
Balanceror purchase price minpaidiy. jee .-)r).feiiee cies cele $1,338,570.83 
ANNUAL INCOME. 
185 feet, board measure, per acre annual growth on 100,- 
000 acres would be 18,500,000 feet, board measure, which 
can be cut each year without intruding upon the normal 
growing stock, 1. e., the principal, at $4 per M.......... $74,000.00 
For fishing and hunting privileges, cranberries, rents 
AIG PASUUITE Ve! {i cavencs bis, ayeey «+ Giereeteyh Meret S Greek a hoe Miah RSA 21,500.00 
Total anntialGincome: cases settee oe ree naeoe eee $95,500.00 
ANNUAL OUTLAY. 
Interest ait S<per Cent ‘on YG58:5 forages seen lee $66,928.54 
For administration and protection ..... bist ss, ciseyc erstorstsketers 12,500.00 
For planting 3,000 acres with pine and spruce.......... 15,000.00 
For labor improving meadows, making roads, fire-lanes, 
C2 CONN CREE EN NR cr eats aN gC N LR Sarg eye Ae tt i St Wc, ot 8,000.00 
Hor implements anepains eucrere sce ach eee nents 5,000.00 
"Dotal: annual ioutlayy eee cece es set aR ee cee $107,428.54 
“{ debt is funded at 3 per cent instead of 5 per cent the 
Sotalh animal totttlayenwal liste sae asy-e ieee oer $80,657.12 
andere niet animiialy iCOmeusuerriec hacen cette 14,842.88 
ANNUAL INCOME AFTER TWENTY YEARS. 
Increase 185 feet, board measure, on 200,000 acres at 
SO) Gag LY As Sea eM Ure Te Mei aS Ab et A: $148,000.00 
Income from hunting and fishing privileges, rent of 
NOUuSensSites mae TIC Tindal elancerchCre seem nee ee eer 10,000.00 
Hay-ankd'nastiutes 1G: O00 sacresiat wiercies. cis aes ecient 10,000.00 
otal ‘annual income atter twenty years*.....+4.. 9. oa. $168,000.00 
