Almonds first commence bearing at from two to four years of age; the first crop ranging from one or two nuts up to a hatful or possibly more. The trees will first commence to bear a crop which it will pay to harvest, at from three to five years of age. Ordinarily, it will be nearer the latter, depending upon the type of soil in which the trees are growing and the moisture conditions surrounding them. On the hill lands the trees begin to mature much earlier than in the rich bottom lands and consequently come into bearing earlier. It must be borne in mind that a crop which it will pay to harvest does not necessarily pay for the cost of orchard maintenance. A crop is not considered a paying crop until it pays for the cost of maintenance as well as harvesting and handling. Almond orchards, as a rule, reach this point at from five to seven years of age. From this time on the trees should continue to increase in production from year to year, allowing for failures due to frost and other unfavorable conditions, until they are from 12 to 20 years old. Under the common methods of care that most orchards receive, the trees commence to decrease in their production at from 25 to 30 years, although in some cases it will be even sooner than that. On the other hand, well cared-for orchards will continue their maximum production even longer. The age at which an orchard will no longer pay will range from 30 years upward. The top limit is still unknown. Investigations carried on during 1913-1914[5] brought out the following facts: The average production of almonds in California is between 700 and 800 pounds per acre; if care is exercised in the selection of a proper location for an orchard and if good judgment is used in managing it, 1000 pounds per acre would be a safe estimate for business purposes; in many years competent men might be expected to obtain 1500 pounds per acre, but this could not be expected to hold for a ten-year average. The possibilities are shown by the crop from one acre on the University Farm, at Davis, California, of ten-year-old trees which amounted to nearly 2800 pounds in 1917. COST OF PRODUCTION The cost of producing almonds involves a number of variable factors, including overhead charges, such as the cost of the land, equipment, taxes, insurance and depreciation; and also the cost of maintenance and handling. Maintenance includes such costs as pruning, plowing, cultivating, spraying and irrigation. Handling includes harvesting, hulling, hauling, and warehousing. Tabulations of estimates in tables II to VIII are based on information collected during the years 1913 to 1916, inclusive, from a large number of growers in practically all the almond districts of the state, and represent as accurately as possible with the data at hand the average costs which actually exist throughout California.