of the Wool of both the Akitio Stations is most un-satisfactory. Yours ranged from 1/4 1/2 (only one bale at that price) to 1/3 and 1/1. Mine if anything worse - Your net proceeds some £445 - You will be brought in by the 5 p.cent on Kelham's purchased Land a considerable debtor - And Kelham will beobliged to secure his run, to carry out any intention to purchase some 6000 acres of 5/- land. I am glad to hear that you have made such advantageous arrangements with Tollemache in the purchase of - and Ormond's runs.