598 REPORT OF COMMISSIONER OF FISH AND FISHERIES. 



For the second year: 



For two permanent workmen $550. 00 



Imi^lements and materials, about 48. 12 5 



Loss of interest, 5 per cent, of previous outlay 



($2,337.50) 110. 87 5 



$715 00 



For the third year : 



For two permanent workmen 550. 00 



Implements and materials, about 35. 75 



Loss of interest, 5 per cent, of previous outlay, 



($3,052.50) 152. 02 5 



738. 37 5 



For the fourth year : 



For two steady w^orkmen 550. 00 



Implements and materials, about 42. 02 5 



Loss of interest, 5 -per cent, of previous outlay, 



($3,790.875) ..... 189. 54 3 



782. 16 8 



The combined outlay in advance and loss of in- 

 terest 4, 573. 04 3 



or, in round numbers, $4,075, which is to be considered as the fixed cap- 

 ital invested in the enterprise. 



From the fifth year, when the period of preparation may be consid- 

 ered ended, and when the regular harvesting may first be supposed to 

 begin — though, as repeatedly remarked previously, there is nothing to 

 prevent it from beginning earlier, and that possibly with profit — the an- 

 nual expenses at a very high estimate may be stated at : 



Two permanent workmen $660. 00 



Transient labor in summer 330. 00 



Implements and materials 165, 00 



Stock of ice 137.50 



2J per cent, for repairs of buildings and appara- 

 tus of a value highly estimated at $2,200 ... 55. 00 

 For x)acking, transfer, and conveniences 

 for selling, 20 per cent, of the gross profit, 

 $3,437.50 687. 50 



Combined annual expenses $2, 035. 00 



Gross profit on 30 hectares equals 2,500 x 10, 



which equals 25,000 kilograms x .1375 3, 437. 50 



Estimated net profit 1, 402. 50, 



which amount {$l,'i02. 60), divided hy the sum of $4,675 invested as fixed cap- 

 ital, gives a yearly interest of 30 per cent. 



