THE VALUATION OF LANDED ESTATES. 331 



some years ; and he must estimate, accordingly, the annual rent that 

 should be got for the quarry, and its full value for a transfer. 



I believe that there are good seams of rock on many landed estates 

 which are either not worked at all, or are not fully developed. A 

 valuator should therefore not only take into consideration all the dif- 

 ferent departments of an estate which are paying an annual rent, but 

 he should also endeavour, by close observation, to discover where it 

 may be possible to find out new sources of profit. There are many 

 quarries of different descriptions oil several landed estates which give 

 a very handsome revenue, and this is the case more particularly in 

 Scotland. Granite is becoming more used for building purposes than 

 it was some years ago. The demand for good granite for building 

 houses in large towns in Scotland is now much in request ; and there is 

 also a large demand for it for paving the streets of towns, not only in 

 Scotland, but also in England. The seams of rock on an estate should 

 therefore be examined by a valuator, and a judgment of the value of the 

 rock should be come at from its position for transit, the quality of the 

 stone, and the amount likely to be got from the property, and also by 

 the saleable value of the stone in the market. 



Having fixed a yearly rental on a quarry, its transferable value may 

 be taken at from twelve to fourteen years' purchase. 



SECTION 7. The Valuation of Shootings and Fishings. 



In the valuation of shootings there are three classes, which must be 

 taken separately, these are 



Deer-Forests ; 



Grouse or Hill Shooting ; and 



Low-Country Shooting. 



The first description of game-preserves that of deer-forests is some- 

 times formed at considerable expense ; and from the amount expended 

 on them, they ought to pay, and indeed do in many instances pay, a 

 good profit. They, at all events, usually give satisfactory returns to the 

 holders of them, either in the form of money or pleasure. If part of 

 an estate is devoted to a deer-forest alone, there being neither cattle nor 

 sheep grazing where the deer pasture, then, taking into consideration 

 any other expenses of forming the forest, and presuming that there is 

 a good stock of deer in the forest, such a forest ought to give a rental 

 equal to twice the amount the extent of the land would pay if devoted 

 to sheep-grazing purposes. In some instances it is a custom to value 

 a deer-forest by the number of deer which *are allowed to be shot upon 



