131 THE ESTATES GAZETTE January 28, 1899. 80 acres corn crops, and 20 acres seeds. About 10 or 12 acres of the grass will be mown and the rest grazed. The farmer keeps about 30 bullocks, which he buys in as stores and sells olf fat after keeping them about six months ; six horses are required to work the farm, and he does a little breeding and rears perhaps two colts every year. He keeps a few breeding ewes and sells the lambs off fat, some of the ewe hoggs, however, he will keep to replenish his flock, drafting a similar number of old ewes to the butcher. He buys about 100 store sheep in the autumn and feeds them during the winter on his roots; he will also keep some pigs and poultry. He purchases cake and other foods to the extent of £100 or £120 per annum ; and spends £30 on artificial manure. His labour bill is from £250 to £300; his furniture and the implements on the farm will be worth perhaps £300 as they stand ; rates and taxes come to £40 a year, and his house expenses reach £120 to £150 per annum. The capital invested in the farm, therefore, works out׳ as follows: — £ s. d. £ s. d. Half year’s rent 175 0 0 ditto rates and taxes 2(1 0 0 ditto living expenses 75 0 0 6 horses 210 0 0 2 two year olds 00 0 0 2 colts ., 45 0 0 315 0 0 Breeding ewes and lambs—say .. 60 0 0 100 store sheep purchased .. 150 0 0 30 store bulb ck s purchased 300 () 0 Pigs and poultry 20 0 0 530 0 0 Seeds, cake, foods and manures .. 150 0 0 Labour and wages 6 months 150 0 0 Im lements and furniture—say .. 300 0 0 Tillage* and te״ ant-right.. 200 0 0 £1.915 0 0 or about £8 per acre. A cheese-making farm in Leicestershire, 200 acres in extent, with only 50 acres of arable, is rented at £250. The arable land is farmed on a five-course rotation of roots, oats, wheat, seeds and oats; 120 acres of grass are grazed, and the remaining 30 mown for hay; the rates come to £25; 30 to 40 cows are kept and the calves sold off. About 12 store bullocks are also purchased during the year and fatted; three horses are kept, together with one or two yearlings and colts. A flock of 60 breeding ewes are kept all the year round; the lambs are sold fat as soon as they can be got ready for market. A large number of pigs are kept to consume the whey. All the corn grown is consumed on the holding, and cake and manures purchased to the extent of £100 a year. The implements required on the farm itself are not so numerous as in the last case, but the dairy required to be well fitted up. Altogether they will cost about £150. The capital, therefore, works out somewhat as follows: — £. s. 125 0 13 0 75 0 ■170 0 0 - 845 0 100 0 100 0 150 0 95 0 Half year’s rent ditto rates and taxes ditto living expenses 3 hordes........................105 0 1 two-year old ..................30 0 2 yearlings ....................35 0 35 cows........................ 525 0 6 bullocks ......................75 0 60 ewes and 2 rams .. .. .. 125 0 100 pigs of all ages............120 0 Seed״, manures and foods .. Labour for 6 months v Implements ............... Tillages and tenant-right .. £1,673 0 0 or about £8 7«. 6d. per acre. Manchester, Salford and District Property Owners’ Association.—We have received the 7th annual report and president’s address to the members of this association. Of particular importance is that part of the report in which is summarised everything which has been published during the past four years, bearing on the subject of the Death Duties and Finance Acts. Also of importance are the sections relating to leasehold enfranchisement and municipal trading. A large space is devoted to cases of interest to property owners during the year. These embody repairs of private, drains, responsibility for ■injury arising from explosion of gas in sewers, property compulsorily closed, important right of light case, liability of local authorities as to providing sewers■ for large works, water carriage system (important appeal), and injury to a wail by the overflow from a sewer. In concluding his address, Mr. Theodore Sington (the president) remarked “ Individual owners can do practically nothing to protect and forward their interests, but organised into one body, with an experienced and energetic council, we can do a great deal; our interest has been and is being felt. It must steadily grow pari passu with the increase of our numbers. I look forward to the time when everyone interested in property, included in that term being both land and buildings, domestic, commercial and manufacturing, will have joined us. Locally our influence must then be very great; we are already, as you know, affiliated with kindred associations in other towns, and the united association is continually adding to its strength.” THE FARM: ITS CARE AND MANAGEMENT.* By H. W. RAFFETY, F.S.I. IY. FARM CAPITAL. When we come to discuss legal questions, we shall see that an agent is liable to׳ be charged with negligence if he omits to take every proper precaution to secure a suitable tenant for any property he is required by his employer to let. It is usual for an agent to demand references as! to the applicant’s means and character, and, if possible, he should take any opportunity offered of inspecting his late farm, so as to see with his own eyes in what state of cultivation and tidiness he is leaving the land and premises. A most important point to decide is the amount of capital a farmer should possess■ before undertaking a farm of the size of that for which he is applying. The character of the holding will have a׳ considerable effect upon the capital required to farm it to advantage. The sum that would be sufficient to fully equip a light land arable farm would be quite inadequate to stock a high-class grass farm, but while the labour required in the first case would be considerable, the proportion of the same item would be much less in the second. A common rough and ready method is to assume that £10 an acre is׳ required, but a reference to the examples given later on will show that this is not by any means reliable in all cases, and many farmers would be only too happy to possess that amount for every acre they hold. In considering this subject the various items for which capital is required must be looked at separately under the following principal heads: — (1) The valuation to be paid to the outgoing tenant. (2) The cost of the horses, implements, and machinery required to work the farm. (3) The purchase of cattle and sheep to properly stock the farm. (4) The first half-year’s rent, rates and taxes. (5) The bill for seeds and purchased foods and manures. (6) The expenditure on labour. (7) The cost of house furniture and living for a time. In estimating these, regard must be had to the likelihood of sales of produce. Thus, on a purely tillage farm, a new tenant entering at Michaelmas would receive hardly anything until he could sell his first years’ crop of corn. Even when he feeds sheep on his roots and stock in his homestead, and sells them at the end of the winter, he needs additional capital in the first instance to purchase his store stock. On a dairy farm, on the other hand, the sales oi milk, butter and eggs begin at once, and a smaller proportionate allowance can be made for labour and cost of living. Rent is hardly ever payable till the tenant has been at least nine months on the farm, so that he may reasonably expect to pay his second half-year out of income. In calculating the number of horses and stock and the amount of labour required, the system of farming and the rotation of cropping to be adopted must be considered. One team, whether of two or three horses, is usually considered sufficient to work 15 acres of root or green crop. Thus a farm with 60 acres of arable land in the four course shift will have 15 acres of roots in an ordinary case, requiring one team and their attendants. One horse may be added for every 50 acres of pasture. Ten acres of an ordinary crop of swedes will maintain 100 to 150 sheep during the winter if helped with a little cake or corn. A method of calculating the stock required is somewhat as follows׳:—A sheep eats about׳ a quarter of a cwt. ■of green food a day, a horse is reckoned equal to eight or nine sheep, a cow or bullock to seven or ■eight, and yearlings and young stock as equal to about three or four sheep. A ton ■of cake equals 15 tons of roots or other green foods, one quarter of corn is equivalent to two or two and a half tons, and hay represents five times, and straw three times their weight in green food. The difficulty in such cases is to calculate with any degree of accuracy, the amount of produce to be sold on the one hand, and the quantity of foods purchased on the other. The only reliable way is to take note of the actual stock in similar cases, where the land is well farmed, and to endeavour by comparison to arrive at an estimate of what should be necessary in the circumstances you are considering. The following particulars are taken from actual practice on farms of varying descriptions, to give some idea■ of the principal points to be noticed. Take the case of a mixed husbandry farm in the Midlands, where stock I breeding is the principal object. There are 240 acres of which half are grass. The rent : is £350; 20 acres of the arable land are roots, I NORTH WALES. BANGOR Messrs. W. DEW and SON, Auctioneers, Valuer», Estate Agents, Land Surveyors, &c., WELLFIELD, BANGOR, and Trinity Square, Llandudno. PROPERTIES TO BE SOLD & LET PRIVATE TREATY. * From " Land Agency,” new edition, revised and brought up to date by H. W. Eaflety, F.S.I. DEVON, SOMERSET & WEST OF ENGLAND W. J. WINSLEY & CO., KJOTIONEJfcGKS, HUKVEYOR8, TENANT-RIGHT HOTlfiL AND GffiNfcRAL VALUERS, MORTGAGE aJNO INSURANCE BROKERS. City and County Auction and Estate Agency Offices: 6, SOUTH STREET, EXETER, and HIGH STREET, HONITON. Telegraphic Addresses: “ Estates, Exeter“ Wins leg, Honiton¡' Nab. Telephone No 203 {Exeter). Auction Sales at Honiton Horse and Carriage Repository the first Saturday in every month. AN the BORDERS of DEVON and SOMER 'J SET (two miles from railway station).—Capital little Freehold Holding of 40 acres, about five of which only are tillage, with good modern dwelling house and farm buildings. Let to excellent tenant at £38 per annum and outgoings. No tithe charge on greater portion. Price asked £900, Freehold. A very sound investment. AEVON, one mile from railway station.— Poultrjr Farm of 12 acres, and right of common 10 acres; newly-built Dwelling House and suitable out-houses. Price £500, Freehold. Well let to pay five per cent. AULLOMPTON, DEVON.—Freehold Resi- dential Estate of nearly 200 acres (more than half being well-watered meadow and old pasture). Can be let at £450 per annum. Price £12,000, including timber. Foi occupation or investment. Parties seeking Farms, Residential Properties, Country and Town Residences (furnished or unfurnished), and investments of any description in the West of England should send particulars of their requirements to W. J. Winsley and Co., who will be happy to furnish details of likely properties on tlieir extensive registers. WEST KENT DARTFORD DISTRICT Messrs. DANN and LUCAS, Auctioneers, Surveyors and Land Agents-Dartford and Bexley, Kent, and 123, Cannon Street, E.C. Auction Sales conducted and Valuations made of Estates, Farms, Residences, Building Land, Farming Stock, Timber, Underwood, Tenant Right, Furniture, Fixtures, and other effects. Properties surveyed and valued for Sale, Mortgage and Appeals against Bating, dc. Yaluations for Probate and Legacy Duties. Dilapidations assessed, Railway and other Compensation Claims adjusted. Rents, Tithes, &c., collected, and the manangement of large or small Estates, Farms, or Building Properties under taken. Surveys made, and the erection of Farm Buildings and Cottages superintended• Agents to the Guardian Fire and Life Assurance Office, and the Ocean, Railway, and General Accident Assurance and Guarantee Companies. ESTABLISHED 1852. LONDON & SOUTHEND ON SEA. A. PREVOST AND SON , Auctioneers, Surveyors, Yaluers, Land and Estate Agents, 176, MILE END ROAD, LONDON, E , AND 102, HIGH STREET, SOUTHEND-ON-SEA. (Opposite Middleton Hotel). SALES BY AUCTION AND PRIVATE TREATY. Surveys and Reports, Valuations for Probate and other Purposes ; Mortgages negotiated at reduced rates ; Compensation Cases prepared and conducted ; Estates managed and Rents collected. Insurances of every description effected. Telegraphic Address : “ Notedness,” London. Telephones: London, No. 31 Eastern; Southend-on-Sea, No. 31. i?q £AA —SOUTHEND, near sea, sta c£<׳ O • t) \J \/ • tions &c—Superior detached freehold J Residence, well appointed, approached by carriage drive, spacious well-matured grounds well stocked with fruit trees, tennis lawns, &c.; seven bed rooms, bath room, hot and cold, spacious hall, three reception rooms, offices, conservatory, stabling, coachhouse, harness room, &c. J remediate possession. 700 —^ear station, church, &c. cXjjUi) i vl/• Detached freehold Residence, fine frontage, good position, excellent gardens, orchard, vineries, &c. ; eight bed rooms, bath room, spacious hall, three reception rooms, offices, stabling, coach-house, <&c. Vacant possession. CO £AA —Finest position in SOUTH-a/^uVV• END, double-fronted detached freehold Residence, close to sea, station, &c.; eightbed and dressing rooms, double drawingroom, opening to conservatory, dining and other rooms and offices. Vacant possession. ¿062,000. —TO BREWERS, distillers, CAPITALISTS AND OTHERS. — Freeh Id Ground Rent of £1,200 per annum, secured on two old-established commodious and highly prosperous fully-licensed hotels, stabling, etc., etc. Reversion in about 13 years to property of enormous value. D] O —SOUTHEND ON-SEA — oD JL & % *J V/ V_/ • To Bankers and Capitalists — Magnificent Freehold corner business premises, occupying commanding position in best business part of High-street,to which it has an important frontage of 40ft׳. and a return front >ge of 140ft. : eminently adapted for a bank, wine merchant’s or brewer’s br.inch. A־l K AA —SOUTHEND-ON-SEA — ot׳ -L ^ t) V/ V/ • Picturesque semi-detached residence, facing the sea- and close to stations.