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HOUSES, SHOPS AND COTTAGES.

Well built house property in good positions, let on repairing leases, may be bought to produce a perfectly secure income, ranging from four to six per cent. for freehold, or from five to six-and-a-half per cent. for leasehold.

Good shop property in leading thoroughfares of London, or other large towns, is a class of investment much sought after, for the reason that there is a goodwill attaching to the premises. Goodwills range in

value from hundreds to thousands, and thus there is an additional security.

Cottage property, if in positions where cottages are greatly needed and, if really well built, forms also a safe investment. The income is ready money, it comes in regularly every week; and the owner generally employs a local man to collect the rents, attend to tenancies and repairs, so that the owner receives a liberal interest devoid of any anxiety or trouble. Poor weekly property brings trouble, and should never be purchased by prudent investors.

HOUSES FOR OCCUPATION.

By the purchase of a house, whether it be a mansion. and park, a moderate residence, a villa, or a cottage, the owner is always certain of one thing, regular payment of interest for his outlay.

If he did not live in his own house he would have to live in a house belonging to some one else, and to pay rent for it; but inasmuch as houses pay a higher rate of interest than many other investments, it is a wise and safe way of employing money by purchasing a house for occupation. It has also this additional advantage that whatever money is spent upon it by the occupier, goes to improve his own and not another's property.

346

LAND ITS ATTRACTIONS AND RICHES.

Lands and houses, if prudently purchased under advice, would return more profitable results in the main than could be secured by dealings at the Stock Exchange.

The following Equivalent Tables will be found useful to purchasers of income-producing property. I have constantly used them since I commenced practice in 1859. EQUIVALENT TABLES.

Years.

£ S. d.

Years.

£ S. d.

Per cent. Years. Months.

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34

30

28

41

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26

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18

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EXAMPLE. To purchase

a property to pay 5 per cent., multiply the net income by 18 years and 2 months' purchase, i.e., 18

C. F. DowSETT.

2

SECTION IV.

CHAPTER XXXIX.

AGRICULTURAL EDUCATION.

BY PROFESSOR

PRIMROSE MCCONNELL, B.Sc.

Author of " Agricultural Notebook,” and numerous other agricultural works; High. Soc. First Prizeman in Agriculture, Edinburgh University; Fellow of the Highland and Agricultural Society of Scotland; Member of the Royal Agricultural Society of England (by exam.); Assistant Examiner, Principles of Agriculture," Science and Art Department; Lecturer on Agricultural Science to the Indian Civil Service Students, Oxford University; etc.

66

For the last century and a half the farmers of Great Britain have been noted as the best all round practical men in the world. They have produced more crop per acre of good quality than any other country can show, while the breeds of live stock which they have developed have been brought to so great a pitch of perfection, that they are without rivals, and foreign countries continually come here for supplies to improve their native varieties. But we have not by a long way reached the limits of possible improvements yet, and history shows us that the march of civilisation and development goes on, and that those who do not keep moving are left behind. We see this exemplified in the activity developed of recent years in foreign countries, for though we have hitherto beat them, yet in spite of their peasant proprietorship (a system inimical to advanced farming) they are slowly coming upon us, and have in fact long passed us in some departments, as in dairying, seed-testing, and various other matters, which could be named. If there

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