EXPENSE OF CONVERSION 279 



Expense of Conversion. The land being let in 

 fields already fenced out, there was no expendi- 

 ture entailed in converting it into smaller lots. 

 One small field alone needed subdivision for the 

 needs of the smaller tenant, which was done 

 with posts and wire for 2 11s., the landlord 

 not charging for his own timber ; l 15s. was 

 spent in helping to lay down old fences which the 

 late tenant had let fall into decay. The land 

 in the smaller lots is all under grass. About 6 

 acres of this was originally arable, in two lots. 

 They were let to two farmers under special con- 

 ditions for their being laid down, the landlord find- 

 ing manure and seed. The cost of this was 



s. d. 



Seed 9 14 



Manure.. 18 5 5 



21 19 5 



There is no separate charge for interest on this 

 amount, and the interest must therefore be debited 

 to the increase in rent. But in another two years 

 the leases will have run out, when higher rents will 

 be received, as the land will then be good pasture, 

 and is close to the village. 



The whole cost of conversion can therefore be 



given as follows : 



s. d. 



Draining 15 10 



Laying down to grass ... ... ... 27 19 5 



Fencing 2 11 



Hedging 1 15 



4,1 15 5 



