I believe a full allowance has been made for most of 

 the expense items and that some of the stock birds can 

 be purchased at a lower price than is stated. The club 

 may, also, decide to purchase some eggs and to save in 

 other ways.* 



It is desirable to have at least 100 or 200 shares, in or- 

 der that the dues may be small, but the number of guns 

 that can be accommodated depends, of course, upon the 

 size of the preserve. It is not a bad plan to fix the value 

 of the shares at from $25 to $30 and to provide that mem- 

 bers can own from one to twenty shares each, since those 

 who can afford to contribute to practical game protection 

 will take a number of shares, and the amount needed to 

 pay the expenses of the shoot can be realized without 



RECEIPTS FROM SALE OF SHARES. 



200 Shares at $30 each, $6,000. 



ESTIMATED EXPENSES OP PLANT AND ORGANIZATION. 



Hatching House and Breeding and Rearing Yards, $500; 

 Extra Wire, $200; Coops, Setting Boxes, Tins, $250; Pheasant 

 Pen, $200; Expenses of Securing Leases and of Organization, 

 500; Stock: Wild Turkeys, $150; Wild Ducks, $450; Pheasants 

 or Hungarian Partridges, $300; Quail, $225; Rabbits, $45; 500 

 Hens, $180. Total, $3,000. 



Surplus in hands of Directors, $3,000. 



RECEIPTS. 

 Annual Dues, $6,000. 



OPERATING EXPENSES (ESTIMATED.) 



Shooting Rent, 10,000 acres at 8c. per acre, $800; Wages of 

 Gamekeeper, $1,000; Rent Keeper's House, $300; Extra Labor, 

 $1,200; Managing Director's Salary and Expenses, $800; Food 

 for Birds, $1,500. Total, $5,600. 



This syndicate hopes to rear from five to ten thousand birds 

 (including birds breeding wild and in captivity) the first year. 



