506 A Fo'-dtry Farm in Huntingdonshire. 
The capital employed in the poultry farm was taken at 300/., 
and was considered as being the same at the beginning and at 
the end of the year, and interest at 5 per cent, on that amount 
is allowed in the foregoing account ; there was, however, in 
fact, rather a larger head of poultry at the end than at the 
beginning of the year, the actual numbers being — 
On January 1st, 1880 1433 
On January 1st, 1881 1482 
but the difference in number was not sufficient to make any 
material difference in the value. Of the 300Z. capital, 200Z. 
Avas taken as the value of the poultry, and 100/. as the value of 
the fowl-houses and other dead-stock ; but the former sum 
seemed to be very inadequate, and, upon consideration, the 
farmer added this note to the above account : " I have charged 
5 per cent, interest on 300/., viz. 200/. for poultry, and 100/. for 
houses, though I consider my fowls, being pure light Bramahs of 
noted strains, are worth 400/." If then we take the whole 
capital in the concern at 400/. (the mean between the capital of 
300/. on which interest is calculated in the above account, and 
500/., the amount at which, upon further consideration, the 
farmer estimated it), which would, as far as I could make out, 
fairly represent the actual capital invested in the concern, we 
find that a return of some 40/., or 10 per cent., was made ; the 
40/. being divided in the account into 15/. for interest, and 25/. 
for profit ; but if we take the capital at 400/., and allow interest 
at 5 per cent, on that sum, we have only 20/., or 5 per cent., left 
for profit. 
This farm seems to be a fair example of what can be done by 
poultry farming, for there are no special or adventitious circum- 
stances as regards soil, position, or otherwise, connected with it, 
but the farmer thoroughly understands the business ; he is 
learned in poultry, and devotes much of his time to them. He 
is not only fond of poultry, but of other animals, as is shown by 
the fact that he keeps a large number of bees on the most ap- 
proved modern and scientific principles, from which he endea- 
vours to make a profit. I cannot, however, state whether his 
bee-keeping has been profitable, for he has only kept them in 
large numbers during the past year, and has not kept separate 
accounts for them. I need hardly add that this poultry- and 
bee-farmer does not depend upon his poultry and bees and his 
small farm alone for a livelihood. In reply to my question 
whether he thought that poultry-farming on a very large scale 
would pay, he said he thought not ; but that the best and most 
paying way to keep poultry was for the cottagers to keep a 
lew each for the farmers, — the cottagers' wives being paid so 
jiiuch per head for every chicken reared. 
