8.—15 a,

(6.) Comparison of Operations, 1899 with 1900.

(7.) Working-expenses. Working-expenses show a decrease on the previous year of £5,108. The only items showing any increase are for regrassing and permanent improvements. 1899. 1900. Eenewing pastures ... ... ... ... ... £9,401 £11,146 Implements—depreciation ... ... ... ... ... 1,260 1,366 Cost of turniping ... ... ... ... ... ... 17,708 16,525 General expenses, wages, repairs, rates, feed, &c. ... ... 38,612 34,955 Eent and interest ... ... ... ... ... ... 3,967 1,684 Babbiting ... ... ... ... ... ... 1,490 1,201 Grain-growing for sale (at Bskbank and Waimana) ... ... 857 906 73,295 67,783 Permanent improvements ... ... ... ... ... 8,951 9,355 £82,246 £77,138

(8.) Sales of Stock. Comparison of sales for the two years ending 31st March, 1900:—

Sheep. —The total number of sheep sold during the year is 86,906, and frozen 19,382, averaging 9s. 10d. and 13s. respectively, or an average of 2s. 2d. per head more than the previous year, equal to £11,514. Cattle have not returned so well in the aggregate, but the reduced average per head is due to the clearing sale at Pencourt, at which young cattle only were disposed of. Belatively to age, however, our sales have been more profitable. 2—B. 15a.

9

;s Year. Rape. Turnips (alone).* Grasi ling. Oa: is. Tons Acres, per Acre. Oaten Hay. 00 a 'a 1 _o m a a o With Plough. Surfacesown. Acres. Bush. per Acre. 1899 1900 Acres. 3,047 2,243 Acres. 10,915 9,015 Acres. 11,079 15,488 Acres. 5,085 1,874 2,094 762 Est. 26 24 1,827 1,972 Est. 1 1 Chains. 1,157 669 Acres. Acres. 1,603 3,654 736 1,393 Increase Decrease 804 1,900 4,409 3,211 1,332 2 145 *48i I 867 2,261 * In mi ist cases ti irnipe vn ire also iwn wii ;h grass.

,eep. Year. Number sold. Net Average Number Net Averaffe Total disProceeds. Avera S e - frozen. Proceeds. Avera 8 e - posed of. Net Proceeds. Average. 1899 ... 89,770 £ £ a. d. j , „ -tc aoq 33,312 0 7 5 (J; 1 *;** 42,609 0 9 10 jf 1 !;^ £ £ s. d. 10,153 0 12 4) 12 R 2,963 0 9 4[ liAM8 10,292 0 13 1) 1f)R 9Rft 2,278 0 12 5f 106 > 288 £ 46,428 £ s. d. 0 8 3 1900 ... 86,906 55,178 0 10 5 Oα, ;«e. .899 ... .900 ... 4,191 24,570 5 17 5,276 27,249 5 3 3 3 407 4,191 24,570 5 17 3 2,683 6 11 10 5,683 29,932 5 5 4 * Value of frozen meat is estimated.