(one to take charge of rams)
To Hurdles &c. 10 0 0
---------
260 0 0
To 18 Rams at 10 pounds 180 0 0
---------
440 0 0
---------
225 0 0

5th year, (E.) June, 1833.*

Income. 
By 5464 fleeces, at 2 1/4 lbs. 12,294 lbs. wool at
1s. 6d. 922 0 0
Expenditure. 
To 2 Shepherds at 30 pounds 60 0 0
To 3 Ditto 25 75 0 0
To 5 Ditto 20 100 0 0
To 3 Watchman 20 60 0 0
To Hurdles &c. 20 0 0
---------
315 0 0
To 10 Rams at 10 pounds 100 0 0
---------
415 0 0
---------
507 0 0
----------
Net profit by sales of wool in 5 years 1024 0 0

1024 0 0 divided by 5 gives 204 8 0 for annual interest on the original capital of 2814 0 0, (about 7 1/4 percent per annum) in addition to the accumulation of capital itself, shown by the valuation of stock.

These accounts are a year in advance of the sheep returns, in order to bring them to the time at which the wool would be sold.

Valuation of sheep, June, 1832——­(return E.)

1614 Ewes from 1 to 4 years old at 3 pounds each 4842 0 O 620 Do. 4 to 7 years old 2 1240 0 0 780 Female Lambs 2 1560 0 0
2405 Wethers and Male Lambs 15s. 1803 0 0
  45 Rams (original cost, 450l.) 400 0 0
          
                                                   ----------
          
                                                   9845 0 0

Note.—­About 500 pounds would be added to the Income on the fifth year, by the sale of wethers of 3 and 4 years old.

The cost of rams ought, strictly speaking, to be added to capital, and not deducted from Income; but these returns were made out in their present form at the request of a gentleman proceeding to the Colony with a limited capital, and who wished to know how much he might safely invest in sheep.

APPENDIX No.  IV.

List of geological specimens, collected in the distant interior during the first expedition, with their localities and their relative distances from each other.

It may be necessary to observe that the height of the Cataract of the Macquarie River above the sea, was ascertained by barometrical admeasurement to be 650 feet.  The country subsequently traversed is considerably lower.  The specimens refer only to the geological formation of the distant interior.