November, 1912.] 



567 



Some Statistics. 



Now of date-palms there are over ten millions in Upper and Lower 

 Egypt. But practically no more are being planted, perhaps because of 

 the capital and time required to bring them into profit. So it happens 

 that the home-grown supply does not equal the national demand, and in 

 the year 19/0 it was found necessary to import 5,350,000 kilos from other 

 lands, an increase of nearly a million kilos over the amount imported in 

 1907. An acre of suitable land Till carry from 85 to 100 trees ; at the 

 Pyramids Estates the number set is 87 per acre, These palois take ten 

 years to come into full bearing, although a fair crop is obtainable in the 

 sixth year. Prom the tenth year onwards for the remainder of their 

 profitable life of about a century the trees should produce dates to a value 

 cf 10s. a tree. The estimate of the managers of the Pyramids Estates is 

 that, allowing for an average crop of 15.0001b. of dates per acre, saleable 

 at a price of three farthings per pound, the revenue from the palm trees 

 should amount to £46 17s. 6d. per acre. To this, however, should be added 

 a return of Is. per tree for leaves and fibre sold. Further, the land be- 

 neath the trees which has the benefit of their shade, after these are three 

 years old, can be readily let at an annual rental of quite £5 the acre to the 

 fellaheen, who grow thereon grain and mai ket-gardeu produce. It would 

 seem, therefore, that when a palm grove is well established on such a 

 farm as that which I describe it may be reckoned upon to bring in a gross 

 revenue of over £50 the acre. 



The Necessary Capital. 



Now let us turn to the capital expenditure necessary to bring about 

 this result. Such land as that of the Pyramids Estates, which until it is 

 irrigated looks like desert, but is in reality extraordinarily fertile, can, I 

 understand, be bought at about £40 the leddan or acre, the same price, 

 practically as good old pasture fetches in many countries in England. 

 Doubtless similar, but in these respects less eligible, land can he purchased 

 more cheaply elsewhere. 



The cost of the levelling of the ground by aid of a special steam-worked 

 machine, of its equipment with wells, pumps, cemented canals (a great im- 

 provement on the old clay channels), necessary buildings, planting, &c, 

 may, I was told, be set at £20 the acre, and all other expenses, including 

 labour, overseeing, and so forth, until the palms come into full bearing, at 

 another £30 the acre. This brings the total expenditur e for the first ten 

 years inclusive of the price of the estate, not allowing anything for money 

 earned during that period from crops sold or rents received, to £90, or, let 

 us say, to £100 the fed dan or acre. This, according to my imformation, is 

 quite an outside estimate, but even if it be so, a varied and extensive ex- 

 perience teaches me tnat in all agricultural operations it is wise to over-rate 

 preliminary expenditure and to under-rate the calculated returns. Acting 

 on this principle, let us suppose that such an 800-acre property as the Py- 

 ramids Estates, when in full bearing ten or, since it could not be all dealt 

 with at once, 12 years after purchase represents, including an allowance 

 for iutei est, a capital value of £100,000, what would be its return to the 

 investor? It would seem that if only half of it, that is 400 acres, were 

 planted with palm trees and the produce of the other 400 acres under 

 various annual crops were written off or set against expenses, the net 

 return at £50 the acre would be £20,000 a year, or 20 per cent., while the 

 sale value of the developed property, with its great groves of palms 

 young but in full bearing, its wells and buldings, would be enormous. 



