Range Sheep 151 



CAPITAL REQUIRED 



The capital invested in a sheep ranch must necessarily 

 vary within very wide limits. A band is the unit of man- 

 agement and necessarily the business cannot be conducted 

 with less than this number. A very good start can be 

 made with 1500 ewes, while with wethers a larger num- 

 ber would be needed. The minimum capital required to 

 start in the business might be estimated as follows : 



1500 ewes, at $5.00 a head $7,500 



Horses, wagons, and general camp equipment . . . 1,000 



Home ranch capable of raising winter feed for 1500 ewes 5,000 



Total $13,500 



This represenfs about the minimum capital with which 

 the business can be started, but of course a considerable 

 part of this $13,500 may be borrowed. The cost of the 

 home ranch is the most variable factor. In the early 

 days no land at all was necessary, but at the present 

 time it is very difficult to succeed without at least some 

 land. The price given would usually purchase a ranch 

 that would furnish hay for 1500 ewes. A larger area 

 would, perhaps, in addition to furnishing the necessary 

 amount of hay, give considerable winter and summer 

 range. As a rule, however, ranches handling only one 

 band of sheep will seldom cost more than $10,000 to 

 $12,000. 



When large numbers of sheep are raised, the capital 

 invested is much in the same proportion, although per- 

 haps hardly as great as with the small outfits. By far 

 the larger number of sheep-men, however, are running 

 only one band. 



be sold for $2.50. This would make a total depreciation of 

 $2.50, which would amount to about 42 cents a year. 



