106 THE LAND AND ITS PROBLEMS 



situated in an eastern county, that it is in an arable rather 

 than a grass land district, and further that such grass as 

 there is is not first-class but just average, or perhaps 

 somewhat below average. 



As Mr. Strutt manages and farms the area with which 



Note. — Losses are shown in heavy type. 



we are here concerned on behalf of a company, the book- 

 keeping is careful and accurate ; and, in passing, it may 

 be noted that the shareholders have received a very good 

 rate of dividends throughout the whole period. 



