TWENTIETH ANNUAL YEAR BOOK— PART VII 587 



rented. A generation ago farm ownership was acquired at 30 years of 

 age; in 1914 it was acquired at 35 years of age. Iowa farm land has 

 advanced in price about 100 per cent since 1914 and it is probable the 

 age of acquiring ownership is near 40 years of age. 



Two agencies which will promote ownership are the stock-share lease 

 and state farm credit. The former will shorten the period of tenancy by 

 increasing the labor income, the latter will shorten the period of ten- 

 ancy by extending more credit to the individual, which will enable him 

 to buy a farm earlier. 



STOCK SHARE LEASE AND AGREEMENT. 



Three important considerations on the average rented farm are 

 co-operation between land owner and renter, adequate capital to equip 

 and operate the farm and capable supervision of the farm business. 



The stock-share method of renting supplies these three needs better 

 than any other method of renting. Co-operation is secured by the land 

 owner and renter forming a company and dividing the net receipts 

 equally. The land owner supplies the renter with the capital and credit 

 he needs. The land owner take? less risk than other creditors for ho re- 

 tains part of the supervision of the farm. The renter looks after the pro- 

 duction end while the land owner gives special attention to buying and 

 selling, or the marketing end. 



Table XII shows the correlation of method of renting to farm organi- 

 ization in southern Iowa in 1915: 



Average Average No. of Average per 



Method Farm Animal Units cent Receipts 



of Renting. Capital. per 100 Acres* from Crops. 



Stock-share $33,163 25 16 



Cash 18,204 15 26 



Grain 17,993 15 48 



*The equivalent of a 1,000-pound animal kept on the farm twelve 

 months. 



The stock-share rented farms have the largest business as shown by 

 capital, number of animals kept and per cent of total receipts which 

 come from sale of crops. Most of the crops raised are fed on stock-share 

 farms, while 48 per cent of the total receipts on grain-rent farms come 

 from the sale of crops. The effect of type of farming on soil fertility and 

 farm profits are shown in the following table: 



Table XIII shows the correlation of method of renting to crop yields 

 and profits in southern Iowa in 1915: 



Average Average Landlord's 



Method Yield Tenant's per cent on 



Renting. of Corn. Labor Income. Investment. 



Stock-share 40 $921 3.85 



Cash 36 669 2.95 



Grain 35 661 4.65 



