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[Page 114]

Stock are high in price in the Riverina district, and this is against purchasing forming new runs.  The threatened glut of cotton is likely llikely to reduce the price of wool in a year or two, and if so sheep must fall in proportion.  On the other hand the demand for stock for new country will keep up the price for some time.

Land is proportionately cheap, and if good sized blocks of good quality could be had at 20/ near the Railways it might be a better investment than distant runs.  I have already said that I have just purchased a block of 9000 acres on the line of Railway on the Campaspie [Campaspe] at 20/ an acre, it was offered during 3 days sale in Melbourne

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