NINTH ANNUTL YEAR BOOK— PART XII 681 
FRED Mcculloch in co-operation with united states de- 
partment OF AGRICULTURE. 
FINANCIAL STATKMENT. 
Farm inventory January 1, 1908 $46,307.50 
Capital invested in land (320 acres) and equipment 37,325.00 
Receipts — 
Live stock sales $3,738.78 
Crop sales 1,841.31 
Inventory increase 1,397.00 
Total receipts $6,977.09 
Deduct expenses 4,313.14 
Gross gain $2,663.95 
Deduct proprietor's salary 500.00 
Net gain $2,163.95 
Deduct five per cent on $37,325.00 1,866.25 
Profit on proprietor's labor 297.70 
Add salary allowed 500.00 
Labor income $ 797.70 
Gain $2,163.95 equals 4.7 per cent on total investment of $46,307.50, or 
5.8 per cent on capital of $37,325.00. 
HOW TO GROW OATS. 
Paver written for The Quaker Oats Co. Contest. 
J. II. BUEGY, SOUTH AMANA, IOWA FIRST PRIZE. 
The seed corn agitation that has been carried on the past few years has 
been a great help towards developing that important cereal, but during 
this little time was accomplished toward improving our seed oats. When 
we come to realize that Iowa produces on an average only twenty-nine 
bushels per acre, we think that this is an opportune time to inaugurate an 
educational campaign so that the Iowa farmer may "get next" to the 
fundamental principles in oat growing, thereby enabling our state to boast 
of an average yield of at least fifty bushels per acre, which could easily 
be realized if more attention was given to the selection and preparation of 
the seed, properly prepared seed hed and time and method of planting. 
The first and most important item to be considered is the seed, as what 
we sow that we must expect to reap. To produce a large crop we must have 
