46 Western Live-stock Management 
ranges any but pure-bred bulls of some recognized beef 
breed. The use of these good bulls has proven very prof- 
itable and to-day steers of good breeding, that is, carrying 
several crosses of Hereford or Shorthorn blood, are selling 
for $10 to $30 a head more than unimproved stock even 
when the feed has been the same. 
While there are many very large and very wealthy cattle 
outfits in the West, particularly farther south, the business 
is very largely in the hands of small cattle-men running 
from 100 to 500 cattle and having invested a capital of 
$10,000 to $50,000. While these men handle large 
numbers of stock and own or control hundreds of acres 
of land, the capital invested and the annual proceeds are 
not so far different from the capital and income of the 
general farms of the irrigated sections or of the Corn-Belt. 
The profits of the business are very hard to estimate. 
Most of the ranch-men have been in the business for many 
years and have accumulated considerable property, both 
in cattle and land. The land was in most cases obtained 
for little or nothing and the cattle were raised at little 
expense. The business was accomplished by much risk 
and considerable hardship, but on the whole those who 
have followed it for a number of vears have been successful. 
At the present time, these men value their real estate 
rather high, and this, combined with the large amount of 
hay required in the winter time, makes the expense very 
heavy. Few of these men are now making more than a 
moderate rate of interest on the value which they give 
their holdings. The situation is also complicated by the 
rapid deterioration of the range. Much land which for- 
merly produced a large amount of grass now produces prac- 
tically nothing, and in many places sage-brush and weeds 
have almost completely taken the place of grass. This 
