— 27 — 
No. of Pen. 
Cost Dec. 27. 
Value of food 
eaten Dec.27 
to March 18. 
Selling price 
in Denver. 
Cost, plus 
food Dec. 27 
to March 18. 
Selling price 
more than 
cost. 
Amount re¬ 
turn for the 
hay eaten. 
1 . 
2 . 
3 . 
4 . 
6. 
Total. 
Average .... 
$ 84 70 
82 36 
84 32 
84 81 
83 44 
87 41 
$ 14 19 
29 32 
15 53 
19 68 
23 46 
27 00 
$115 24 
124 29 
114 95 
109 98 
119 87 
128 36. 
$ 98 89 
111 68 
99 85 
104 49 
106 90 
114 41 
$16 35 
12 61 
15 10 
5 49 
12 97 
13 95 
.> 26 53 
19 28 
20 98 
10 79 
19 93 
21 33 
$507 04 
87 84 
$129 18 
21 53 
$712 69 
118 78 
$636 22 
106 04 
$76 47 
12 74 
$118 84 
19 81 
It will be seen from this, that the largest increase in 
in market value is made by the pen on beets and grain, fol¬ 
lowed by the grain, and then by the beets; the least by the 
ensilage. The value of the food eaten follows in the same 
proportion for the first three, but the alfalfa pen is the 
cheapest food, and the fodder corn next, leaving the ensil¬ 
age about the middle. It should be remembered that these 
figures are based on the prices of $4 per ton for alfalfa and 
beets, $5 per ton for fodder corn, $3 for ensilage, and $15 
for grain, being as nearly as possible the relative cost of 
production, and with no relation whatever to the relative 
feeding value. The total quantity of actual nourishment is 
not much different in the food of the several pens and the 
difference in the cost price is governed by the large differ¬ 
ences made in prices compared with real feeding value. 
The feeding value of the fodder corn was probably about a 
quarter less than the alfalfa, and it has been figured to cost 
a quarter more. Ensilage has been figured at $3 per ton; 
whereas its feeding value would be one-half that as com¬ 
pared with alfalfa at $4 per ton. 
The pens having the concentrated food grew the fastest, 
hence they made the largest increase in market value, but 
the market cost of their food was so great that they did 
not yield a correspondingly large amount of net profit. 
This net profit, or difference between selling price and cost 
plus the value of food, is most in the alfalfa and least in the 
ensilage. This is principally due to the fact that alfalfa at 
$4 per ton gives a pound of digestible material at a less price 
than in any of the other foods. The fodder corn conies 
next to the alfalfa, and is nearly as much notwithstanding 
the high price set on the fodder. Grain comes next, fol¬ 
lowed by beets alone and grain and beets. The three pens 
of concentrated food are closely even in this respect. 
RETURNS FOR ALFALFA. 
If from the gross receipts is subtracted all the expense 
except the hay, the difference may be counted as what was 
