DISTRIBUTION OF INVESTMENTS. 21 



condition as exists on farm 18, on which a $3,000 barn had just been 

 completed and on which the farm and household building invest- 

 ments were $15.78 and $8.86 per acre, respectively. The owner of 

 farm 30 moved from the city only a few years ago and invested the 

 greater part of his ready capital in remodeling the dwelling. His 

 percentage of total investment represented by the household building 

 is much higher than that of any other farm except No. 25, the small- 

 truck and poultry farm, and slightly exceeds even that. This owner 

 noted the lack of certain essential machinery, which lack was directly 

 due to the excessive outlay in household buildings and conveniences. 



New buildings for either household or farm use tend, of course, to 

 vary the relation, as does also the presence of tenant houses, which 

 are classed with household buildings, yet the few farms studied would 

 indicate that the investment in buildings for the two purposes should 

 be approximately equal for farms of the general class. 



A large part of farm 9, with an investment for fencing of only 64 

 cents per acre, is unfenced, and on several others a large extent of 

 rail fence accounts for a low investment per acre. Attention is called 

 to farms 7 and 8, with fencing investments of $4.50 and $5.08 per 

 acre, respectively, on which the proportion of road fence is particu- 

 larly large. Farm 13 has considerable road fence, but the high 

 investment ($5.69 per acre) is largely due to the recent construction 

 of woven-wire fences and the generally good condition of those pre- 

 viously installed. 



The acre investment in tile drainage and water supply depends 

 largely on the natural advantages of the farm. The extremes are, 

 for drainage, 28 cents on farm 4 and $17.70 on farm 10, the average 

 being $2.21. The extremes for water supply are 37 cents on farm 2 

 and $3.17 on farm 8, with an average of $1.04 for the 21 farms. 

 Farms 8 and 10 have a high investment in all improvements and are 

 the two highest in the valuation of tile drainage, $13.98 and $17.70 

 per acre, respectively, yet they show the highest bare-land values, 

 $87.74 and $71 per acre, respectively. Both are connected with 

 town by good stone roads, but the thorough drainage undoubtedly is 

 a large factor in maintaining the value of the land. 



The small acreage of farms 7 and 25 (49.61 and 10.85, respectively) 

 makes the acre investment in water systems large, even though the 

 systems are not extensive. Farms 8, 21, and 23, with an acre valu- 

 ation for water supply of $3.17, $2.40, and $1.60, respectively, have 

 more or loss extensive water conveniences in the dwellings. Farms 

 21 and 23, with investments of $2.40 and $1.60 per acre, respectively, 

 for water, are to be contrasted with farms 18, 19, 20, and 22, with 

 the respective valuations of 72, 68, 27, and 44 cents. These four 

 farms are also in what is known as the hill section; hence, water misht 

 easily be obtained from springs, but the water conveniences have 



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