especially the tendency of the offspring of broken-winded sires or dams to go wrong also. In fact, as much attention ought to be paidthough, as a rule, it is not-to sound mares as to sound sire horses at the stud.

"C NEW YOR'

KOPER

LIBRARY.

This magnificently-shaped and roomy brood mare -hunters type --won prizes all over England and abroad. She was bred by Mr. F. H. Wilkinson, of Cavendish Lodge, Edwinstowe, by whose kind permission the

photograph is published here.

[face p. 195.

PART VI

CHAPTER XX

BREEDING HORSES FOR PROFIT

A WELL-KNOWN judge of high-class hunters, who was judging at a big show in the North, made the remark that "It seems incredible that farmers should expect to breed first-rate hunters out of those sort of mares." He pointed contemptuously to an indifferently bred stableful of mares who had been exhibited as huntress dams, with foals who were bred anyhow, owing to their mother's absence of the best points in breeding for activity, combined with grace and strength.

We now come to the natural sequence, "Does it pay to breed?" In horse-breeding this is largely dependent on how you set about it. But, generally speaking, there is more to be got out of breeding high-class flat racehorses, under good management, than anything else. The figures are certainly high for the original outlay of high-class mares and a first-rate stallion or two, but, if lucky, the sale prices are proportionately big also. Oddly enough, the other extreme is paying also, namely, heavy draught-horses well-mated, powerful, high, and sound generally make large prices in proportion to the cost of

breeding. But hunters and polo-ponies, though most interesting animals to breed and school when young, and still pleasanter with good manners a few years later, are very ticklish financially, and many a clever horseman and good judge has ended his days in poverty on account of his passion for breeding or trying to make good hunters pay, when the sale prices were dead against him, and a little ill-luck thrown in, made him a poor man instead of being fairly comfortably off—if only he had not bred horses as a business when he ought to have taken it up as a hobby in quite a small way.

But there are dealers who have and do make it pay, but they are exceptions-good business men, who probably in any other calling would have made a great deal more money than ever they did out of hunters, hacks, and harness-horses.

Let this caution not damage the ardour of the man who is determined to breed hunters at all hazards; let it make him extra careful with his economy, and make him avoid having any bad debts through selling horses to gentlemen in a good social position who do not pay him at the time when the horse changes stables-and very often never pay at all-waiting perhaps for the death of a wealthy relative who still continues to live, or else expecting to marry an heiress who will defray the luxuries of hunters bought from dealers who get abused if they do not sell horses sound in limb, wind, and eyesight, and first-rate performers over a big county-on very doubtful security.