Incomes of 178 New York Farms. 



137 



Table I. — Showing the Relation of the Capital, Income and Expense to 



THE Profit — Averages of 178 Farms. 



No. of farms 



Average area 



Tillable area 



Total capital 



Gross income 



Expense 



Net income per farm 



Net income per acre 



Net income per tillable acre. 



Farmer's labor income 



Per cent, on the investment. 



Average 

 of all 

 farms 



178 

 132 

 no 



!".i37 

 2, 829 



1,291 



1.538 



II .65 



13.98 



981 



11.1% 



Percentage on investment. If we wish to find the interest that he makes, 

 we may likewise deduct pay for his labor. Three hundred dollars was 

 assumed as the amount for which the actual labor that the farmer does 

 could be hired. (By reference to Table IV, it will be seen that the aver- 

 age of the farmers' own estimates of the value of their labor was $316,) 

 If we deductthearbitrary $3oofrom thenet income and divide by the in- 

 ventoried investment, we have the actual net percentage obtained on 

 each farm investment. Thus we have two ways of measuring profit on 

 these farms. 



THE farmer's salary OR LABOR INCOME 



It has already been shown that the farmer's labor income or the 

 amount he actually receives for his labor and for his management is the 

 gross income less expenses and a reasonable rate of interest (5 per cent.) 

 on the inventoried investment. The distribution of profits is as im- 

 portant as the average. 



Table II. — Showing the Number of Farms of Each Type Having Labor 



Incomes as Designated — 178 Farms, 



