16 A STUDY OF FARM EQUIPMENT IN OHIO, 



their value. As previously stated, the cost of the more modern 

 buildings is not a true indication of their value to the farm, but insur- 

 ance figures are quite largely based on their condition and the cost of 

 replacing them. A comparison of the sale values of land without 

 buildings and land with buildings, all in the same neighborhood and 

 of equal productiveness, shows that the difference in favor of the 

 buildings is almost without exception greatly insufficient to equip the 

 unimproved land with those structures wliich are absolutely neces- 

 sary to the conduct of an mdependent farming enterprise. The real 

 value of farm buildings as a part of the total investment is therefore 

 very difficult to ascertain, and depends largely on the point of view. 



In this study the bjuilding values are a compromise between the 

 cost of equipping the farm with similar structures, less a proper 

 amount for depreciation, and the sale value of the buildings as sug- 

 gested by comparing the values of land with and without buildings. 

 The value shown for the bare land, therefore, is reduced somewhat 

 by this method, possibly as much as it was increased by the method 

 of appraising the fence, drainage, and water-supply systems. 



It can safely be said that buildings represent not only the most 

 expensive class of farm equipment, but the least negotiable. Leav- 

 ing out household buildings, the remainder on the farms studied 

 shows a much greater variation in investment per acre than any other 

 class of equipment, and a greater variation in percentage of the total 

 investment than land, water supply, live stock, or machinery. 

 Fences, artificial drainage, and water systems may often be dis- 

 pensed with wholly or to a great extent; hence they are scarcely 

 comparable with land, buildings, live stock, and machinery as regards 

 the relative investment. 



One of the most important phases of a study of farm equipment is 

 the determining of the relation that should exist between buildings 

 and the farm enterprises, in order to reduce the wide variation in 

 investment per acre in buildings designed for the same purposes. 

 Prior to a study of the cost and construction of buildings there should 

 be established standard space units to be used in determining the 

 actual building requirements of the farm for the storage of products 

 and machinery, the housing of live stock, and the transaction of the 

 farm affairs. In this study buildings were investigated from that 

 standpoint, but insufficient data were gathered to allow of generali- 

 zations. 



For purposes outside of this study it became desirable to make a 

 division of building investment by enterprises. As the floor and 

 cubic space devoted to each enterprise had been calculated for the 

 various buildings, a division on the basis of cubic space was worked 

 out and is presented later in tables and discussions. 



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