V Lecture by Prof. McKay, in School Chapel. I deem it a pleasure and an honor to speak to you a few minutes' this even ing. I hardly know what to say as Mr. Cooper just informed me that 1 was to talk to the students this evening, on dairying. The dairying industry is a very large industry in the United States. There are very few who have any conception of the magnitude of the dairying indus try. The annual income from this branch of the industrial economics amounts to $700,000,000.00 or 9 times more than all of the gold and silver pro duced in the world. In other words dairying products cover little more than 1-10 of the agricultural products, and it is a big problem to comprehend when it is understood that the dairying products are produced in about seven states, on'iy. Oregon has a reputation in the East and I might say, practically over the world. Oregon is noted a- a business state and is also noted for its fruits. Hood River apples are found in Euro pean markets and consequently- your state has a line reputation in this line. 19 Dairying was commenced here about eight years ago. Dairy irg methods have changed and now instead of the old wooden pail with the up-and-down dasher which is a thing of the past, we have mechanical contrivances for the work. Our markets today are the mar kets of the world. We can send butter from here to New York for 2 cents per pound; we can send butter by rail and steamboat to Liverpool for 2-A cents per pound. . This country with its mild climate re minds very much of England's cli mate consequently we might say this state is a stock state but the distance from the markets does not make it profitable. Consequently we advocate dairying transforming the natural fodder into milk and cream. Now, we can turn this cream into butter, consequently a man who dairies intelligently can enter the market with his finished product. Yesterday, I visited Mr. Ladd's herd in Portland. There they have the finest stock in the United States and possibly in the world. He has a cow worth $1, 000.00, a little cow, two years old which holds the world's record for the amount of butter produced from her. There is a little cow weighing 200 pounds whose CUeeEtly bemaua American OL. IX. JULY 27, 1906 No.