Sheep Land Values. 91 



directed effort that counts in the success of anything. 

 Many sheep farms in the Canterbury Province have 

 changed hands at as high a price as 10 an acre for 

 one-ewe capacity, and where the labour of turnip-grow- 

 ing is involved. It is a high price, based upon a 100 per 

 cent, lambing, which is usual. After all expenses are 

 provided nothing much is visible by way of return to 

 the owner. If wool, and lamb, fattened on cultivated 

 feed, make, say, 25/-, from which comes 10/- interest 

 on outlying capital, there is as a set-off in this class of 

 sheep farming heavy expenses for cropping, labour, up- 

 keep, which quickly dissolve the bulk of the 15/-. 

 Relatively 10 an acre for one-ewe country is the equiva- 

 lent of a full 25 an acre for two-ewe country, and 

 this sounds more like a dairying price. 



Speaking generally, and taking the Dominion as a 

 whole, it may be said that prices ruling for sheep 

 country, where the chief or sole reliance is placed upon 

 pasture, and where a.n experienced man may hope to 

 engage himself in a profitable occupation, are, except 

 where access is bad, 4 an acre for one-sheep country, 

 5 or 6 for one-ewe country, 8 or 9 for one and 

 a-half ewe country, and 13 to 15 for two-ewe country, 

 and in some parts 18 to 20 for two and a-half ewe 

 country of fallen bush land not yet ploughable, and 

 where lambs are sold as stores for about 10/-, with 

 lambing of 100 per cent, and over. Where the country 

 is really suitable, and access and locality reasonably 

 favourable, such prices are paid by experienced men. 

 The sheep farm that has a good proportion of cultivable 

 land fetches considerably more, but then the mixed 

 farming capabilities of such and prospective use for 

 dairying enter into consideration, and it may be said to 

 be more, or less speculatively held as a sheep farm, 

 ultimately destined for dairying. v r 



The foregoing prices are for sheep farms of a gene- 

 ral average area of up to a thousand or two acres. The 



