one dollar. By building hundreds of houses each
year, by eight or ten years of experiment, and keeping the same
foreman and crew, we have been able to develop an efficiency that
will allow us to put these buildings up at one hundred dollars less
than the best bid we could get from anyone. We would gladly give up
this detail work if some one else could do it, for we make no money
on it and barely take care of costs and our necessary overhead.

As to furnishing cattle, we made an offer to one of the local
Holstein and Guernsey associations, asking them if they would be
willing to furnish all of our settlers cows at the same price we
were asking, and deliver them at the same time we were delivering
them; we could not get anyone to accept our offer. We have lost
money right along on our live stock--not a great deal, but a small
amount. So when your informer tells you that they purchase goods
from the company at a fair profit to the company, the statement is
not correct, for we sell no goods to them at all except what goes
with the land. In no case do we buy anything from the settlers, and
in no case do we sell anything to them, except the original
equipment which goes with the original purchase.

The statement that the company's purpose is to reserve large
demonstration farms is laughable, for we only have two
demonstration farms reserved in our entire tract of 60,000 acres.
Those two demonstration farms cover 2,500 acres. Already one
demonstration farm in a colony where we sold practically all the
land has been cut up into small farms and offered for general sale.
The other demonstration farm is in the vicinity of our present
settlement and is not now broken up.

In our oldest colony we reserve not a foot of land there. The
cheese factory which we started we turned over to the co-operative
organization. The warehouse which we constructed we turned over to
a Co-operative Shippers' Association.

There is one thing that your informant is correct on, and that is
that we retain the river shores. We have retained the riparian
rights for the reason that some day we hope to turn this over to a
water-power company and develop hydroelectric power for the benefit
of that whole community. If these river shores were in the hands of
different settlers, it w