Contains syllabuses and programs of lecture series delivered by Ewart, catalogues of horse sales and various reports.

Forsyth confirms that his colleagues have agreed to the purchase of four of Ewart's ponies and the stud farm subject to certain conditions. Forsyth recommends that Ewart contact John Ritchie to engage him under terms recommended by Lord Arthur Cecil.

Hope thanks Ewart for the photographs of the Przewalski's foals. She hopes to be able to see them when Arthur Cecil takes them to Woburn. She also mentions the Basuto pony that was sold at a Manchester auctioneer's the previous year, and belonged to a Mr Hardacre from South Africa.

Cecil states that he encloses a cheque for the mare that he recently purchased from Galbraith. He remarks on some other horses which he is interested in purchasing.

Cecil informs Ewart of the time of his forthcoming horse sale and provides information about other sales. He also gives directions as to the delivery of a puppy by train.

Cecil provides details of the Gaick ponies which are to be sold shortly in Perth. He states that all of his Highland ponies have chestnut callosities but only small ones.

Cecil describes the estimate he has provided to the Congested Districts Board as to the price of the studs and horses intended for cross-breeding with the crofters' animals.

Cecil writes to confirm various practical arrangements and also that he is planning to sell either 'Skye' or 'Corrie' and so may have room to purchase Ewart's pony 'Jean' and her foal.

Cecil writes that he hopes Lord Middleton will buy 'McNeil' as he would suit his mares at Applecross and describes the Middletons' tour around the West Highlands of Scotland to view the crofters' ponies. He reports that a half-Welsh, half-Hackney horse cross has provided successful at Baron Schroder's in Strathcarron and at Guisachan. He is surprised to learn that none of the crossbred ponies are fetching a higher price in the market than the old crofters' breed of ponies.

Cecil writes that since he has not heard from Lord Middleton, he will send his pony 'McNeil' to Croall's. He reports that the crofters usually buy their ponies from each other but they are complaining that they are being bred too light of bone for heavy work.