On the Reclamation of Peat-Land in the Netherlands. 447 
the " Maatschappij tot exploitatie der Peel genaamd Helena- 
veen." The director is Mr. G. van der Griendt, of 's Herto- 
genhosch, and the resident manager is Mr. Schellings. Both 
these gentlemen did all in their power to facilitate my inquiry, 
and to the latter I am specially indebted for devoting a long day 
to showing me everything of interest connected with both the 
working and the reclamation of the peat. Before describing 
this estate, 1 ought to mention that it is the most striking and 
most successful example that has come under my notice of the 
application of a large capital to the cultivation of peat-land. 
The estate comprises 2,250 acres, and the capital of the Com- 
pany is nearly 60,000/. (700,000 guilders). Every year 10 per 
cent, of the net profits is reserved as an addition to the working 
capital, and about 8000/., have thus been applied. Still the 
nominal capital on which dividends are payable remains at its 
original figure. The dividend paid has generally been at the 
rate of 5 per cent, per annum. In some years it has risen to 
6 and even 7 per cent., but the last three years it has fallen to 
under 3 per cent. The agricultural success of the Company 
must not, however, be measured solely by the amount of the 
dividends, because a large proportion of the capital has been 
expended on permanent works which yield little or no monetary 
return at present, but which are nevertheless essential to the 
reclamation of the peat-land. 
Canals. — Thus the Company has made between twenty and 
twenty-five miles of canals, and recently they have purchased a 
strip of land, about 300 yards wide, which will enable them to 
extend their main canal close to the newly opened railway station 
of Helena-veen. For years they had been trying to purchase a 
strip of land from the adjacent Commune of Deurne to enable 
them to make a canal to the station of that name, which has long 
been in existence ; but from some unexplained reason the Com- 
mune would not sell the land. The new station of Helena-veen 
is only half the distance from the estate that Deurne is, and it is 
expected that the canal will be finished in a few months. A 
small steamer already plies on the main canal, and when the 
water communication with the railway is completed, the cost of 
carriage of produce (which over peat-roads is now very great) 
will be materially diminished. Thus the profits will be larger, 
while its greatly increased accessibility will add materially to 
the capital value of the land. 
The strip of land bought for the canal being, as already 
stated, rather more than 300 yards wide, and the canal itself not 
occupying more than one-third of its width, a strip of land on 
each side, having a depth of 100 yards, will remain the property 
of the Company. This is sufficient to enable them to make a 
