The horse-rake is idle, the elevator is idle, the haymaking machine is idle, and these represent capital, if not to a large amount.

He notes the price of hay at the market.

For months past it has been low--so low that it has hardly paid him to sell that portion of old hay which he felt he could spare.

From October of last year to June of this [1879] the price remained about the same.

It is now rising, but he has no more old hay to part with, and the new is not yet made.