APPENDIX. 



CATTLE-KAISING IN COLOEADO. 



Judge David W. Shekwood, of Connecticut, re- 

 cently wrote to Wilkes' " Spirit" : 



" Editor Spirit of the Times, — In a recent issue of the 

 ' Spirit' I see General Brisbin, U.S.A., your valuable 

 correspondent on ' Cattle-Growing out West,' writes as 

 follows : 



" ' I have often thought if some enterprising person 

 would form a joint-stock company for the purpose of 

 breeding, buying, and selling horses, cattle, and sheep, 

 it would prove enormously profitable. I have no doubt 

 but a company properly managed would declare an 

 annual dividend of at least 25 per cent. Such a com- 

 pany, organized with a president, secretary, treasurer, 

 and board of directors, and conducted on strictly busi- 

 ness principles, would realize a far larger profit on the 

 money invested than if put into any other kind of busi- 

 ness. Nothing, I believe, would beat associated capital 

 in the cattle trade. The ranches and ranges should be 

 located with a view of ultimately buying the land or 

 securing control of it for a long term of years.' 



" I have for some time held the same opinion as your 

 correspondent, but it never struck me so forcibly as 



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