CATTLE-GROWINQ OUT WEST. 37 



in open market. Making every allowance for exagger- 

 ations and mistakes, evidently Mr. Keith's cattle opera- 

 tions have been enormously profitable to him. 



The next establishment examined was a combined 

 dairy- and stock-farm, near the Union Pacific Railroad, 

 in Wyoming Territory. The returns showed as fol- 

 lows : 



1871. 



April, 1871, bought 50 dairy cows, @ $50 each . . $2500 



" " " 2 bulls 500 



Expended on ranch and improvements .... 1500 



Total capital invested $4500 



Expenses of labor $1500 



Return of butter and milk sold $1500 



47 calves sold 500 



Total $2000 



Deduct labor 1500 



Profit, 11 per cent $500 



1872. 



Original capital brought down $4500 



Bought 30 cows, @ $50 each 1500 



Bought 320 acres of land 800 



Expended on improvements 1000 



Total capital $7800 



Expenses of labor $1000 



Returns of butter and milk sold $2500 



Increased value of 47 yearlings 500 



62 calves 500 



Total $3500 



Deduct labor 1000 



Profit, 33J per cent $2500 



4 



