CATTLE-GROWING OUT WEST. 51 



Oar inventory for closing-out sale would be as fol- 

 lows: 



Nine horses @ $50 $450 



Wagons, mules, harness, etc. . . . . . 375 



Kanch and good- will of range ..... 1,000 



704 yearlings @ $10 . . . . . . . 7,040 



736 two-year-olds @ $16 11,776 



720 three-year-olds @ $24 17,280 



1230 cows @ $26 31,980 



450 beeves @ $33 . 14,858 



1084 calves @ $7 . 7,588 



$92,237 



Original capital $25,000 



Tive years' compound interest @ 7 per cent. . . 10,061 



$35,061 



Balance . . $57,278 



Deduct six years' expenses 6,000 



Balance* . . . $51,278 



The interest on original capital is compounded each 

 year and reckoned at 7 per cent. The average annual 

 loss by death or straying, etc., is less than 3 per cent. 

 The per cent, of cows that bear calves that mature is 84 

 per cent. Grain has been estimated for saddle-horses 

 for entire year, while they will not require it over one- 

 fourth of the time. All estimates of amounts paid out 

 are liberal and greater than they would actually be. 

 The cost of bulls is omitted in the estimate, as the grade 



* Though not altered by me, it will be seen my friend was 

 wrong in his calculations in cows and beeves, and also in his 

 general result of net profits. 



