44 POSSIBLE DEVELOPMENTS 



5. About 1000 acres, three-quarters arable. 



Capital per acre, £7 10s. 

 Men per 100 acres, i\. 



Average earnings per man, 21s. 2d. per week, 

 Profit, after paying 5 per cent, on capital, but in- 

 cluding management, 21.6 per cent. 



6. About 550 acres, half arable. 



Capital per acre, £10. 

 Men per 100 acres, 3. 

 Average wages per man, 16s. per week. 

 Profit, after paying 5 per cent, on capital, but 

 including management, 16. 1 per cent. 



It may be explained that the gross production per 

 acre is not given, because this figure -must vary with 

 the style of farming adopted — for example, a business 

 which buys store stock heavily and fattens them to a 

 large extent on purchased feeding stuffs will show a far 

 larger gross output than an equally profitable business 

 which purchases little and depends entirely upon the 

 sale of crops. The profits shown represent the net 

 proceeds after rent, manures, labour and all outgoings 

 have been paid, and after 5 per cent, has been set aside 

 as interest on the capital employed in the undertaking. 

 In the cases of 2 and 3 the management charges are set 

 down too low ; they represent what had been actually 

 paid, but they take no account of the considerable super- 

 vision exercised by the proprietors of the respective 

 businesses. It should also be pointed out that the six 

 enterprises in question, though differing widely in 

 character, are normal agricultural businesses, deriving 

 their returns from farm crops, stock and milk, and not 

 from fruit, market garden produce, pedigree stock or 

 other special developments. The accounts are abstracted 



