46 MONTANA EXPERIMENT STATION 



FINANCIAL STATEMENT FOR THE FIVE YEARS 



The figures so far given indicate very costly production and 

 tend toward discouragement, but they are not complete. An article 

 "well bought is half sold," and this is especially true in feeding 

 cattle. The profit usually comes from the shrink secured when 

 purchased and from the increase in the selling price when sold. 

 This is not in the field of experimentation and is not considered at 

 this time. To buy and sell well is a business question out of the 

 realm of this bulletin. 



The steers fed during the winter of 1907-1908 had been driven 

 150 miles and were weighed within 36 hours after the trip and on 

 a 2% shrink. The second weighing was made a month later, at 

 which time they weighed 150 pounds more per head. This was not 

 all actual gain, but partially a filling up process. 



Financial statements, showing the profit or loss by years on all 

 lots fed. 



FOR 19001901 



Nov. 13, 1900. To 31 steers at $25.00 per head $ 775.00 



March 30, 1901. To cost of feed Lot l 146.34 



March 30, 1901. To cost of feed Lot II 124.53 



March 30, 1901. To cost of feed Lot III 124.74 



March 30, 1901. To cost of shipping to Seattle 150.80 



To net profit 122 . 59 



April 6, 1901. By 31 steers 2880 Ibs. at 5c ..$1444.00 



$1444.00 $1444.00 



Net profit per head $ 3.95 



FOR 1901 1902 



Jan. 2, 1902. By clover first period, 14,295 Ib. at $5.00 per ton .$ 35.73 



Jan. 2, 1902. By barley first period, 1,141 Ib. at .90 per cwt. 10.26 



Mar. 28, 1902. By clover test period, 36,600 Ib. at 5.00 per ton . 91.50 



Mar. 28, 1902. By barley test period, 13,040 Ib. at .90 per cwt. 117.35 



Apr. 12, 1902 By clover third period, 6,435 Ib. at 5.00 per ton . 16.08 



Apr. 12, 1902. By barley third period, 2,267 Ib. at .90 per cwt. 20.40 



Dec. 9, 1901. By 20 steers at $33.00 per head 660.00 



Dec. 9, 1901. By 2 steers at $34. 00 -per head 68.00 



Apr. 15, 1902. By net profit on 22 steers 168.68 



$1188.00 



Apr. 15, 1902. To 22 steers at $54.00 per head $1188.00 



$1188.00 $1188.00 

 Net profit per head 7.66 



