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[Page 226]

deeply mortgaged.  They were offered for sale by auction a week or two ago but without any of them being sold.  Furlonge told me that the pure flock is on the upper Lachlan.  It is possible that the Mortgagees may take a reasonable price for them.  The only doubt I should have whether they have been kept pure - though I should think the oldest of the Ewes could be still identified from the fire brand.  I shall try and get more information about them.

We have a great depression in the price of stock and men like Furlonge who are in the hands of money lenders are very hard pressed:  and many of the stations far inland are not worked at a profit.  Long carriage and light fleeces are permanent obstacles to sheep farming beyond a certain distance.

Amongst the samples there is one from Mr. Bayly one of your breeders in N. South Wales - it is very dirty and wants that clearness which is peculiar to the

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