25 



24. Mixed Farm Tenant 400 acres LOBS 919. 



This farmer entered the farm only eighteen 

 months ago ; this, and a very wet fall, the causes 

 of the loss. Equipment was well written down. 



25. Mixed Farm Tenant 599 acres Loss 831. 

 Compulsory breaking up of land for corn 

 growing, and poor quality of labour obtainable, 

 said to be the causes. 







Grouping. 



The foregoing paragraphs deal with the 325 accounts as 

 a whole, without any grouping or sub-division. 



In the following paragraphs (numbers 7, 8 and 9), the 

 financial results of the accounts are grouped in three ways 

 as follows : r 



Paragraph 7. Grouped per /.<.< nf m-tupler (tenants, 



owners, &c.). 



8. Grouped per size of farm. 

 ,. 9. Grouped per ny*tem of farming. 



Paragraph 7. Financial Results. 

 Grouped per Clam of Occupier. 



The classes of occupier dealt with in this paragraph 

 are : 



Tenants England and Wales ; 

 Owner-occupiersEngland and Wales ; 

 Home and similar farms England and Wales : 

 All Scottish farms. 



1 he division of owned farms lietween owner-occupiers 

 and home farms is explained in paragraph 13 of the 

 Interim Report, and depends whether the holding is 

 farmed primarily from a commercial standpoint with a 

 view to profit. . 



7 (a) (Jupii-'l (M Table 7). 



The capital per acre, over all the farms, is 12 ti*. (/., 

 the limits being 14 9*. with owner-occupiers, England 

 and Wales, and 4 7*. ft/. home farms, Scotland. 



The average capital pfrfurm for all the farms is 5,313, 

 ranging from 6,438 on home farms, England and Wales. 

 to 3,010 on owner-occupiers farms, Scotland. 



As regards the /,'/;<//'/' /////. Tenant farms 



show a smaller capital per acre than either owners or 

 home farms, while in the case of the Scottish accounts, 

 tenant farmers have a higher capital per acre than either 

 owners or home farm*. 



7 (a) 'i'i" Hi-i,ii',,,,, ,,! Turnover <>, 



In comparing tin relation of the total income for the 

 to tlie total capital employed, it will be observed 

 from Table 27 that, as regards England and Wales. 84'76 

 per cent, of the tenants' capital was turned over during 

 the year. 71 '35 per cent, of the owner-occupiers' capital, 

 and 59- 1M per cent, of the home farm capital. A^B regards 

 the whole of the Scottish accounts 74'95 per cent, of the 

 capital employed was turned over during the year. 



7 (bj />A/x (** Table 7). 



The profit /*/ c/v for all farms is 1 7*. 2cf., and 

 ranges from 2 7*. tenants, Scotland, to 13*. 'M. home 

 farms, Scotland. 



The percrntaye <>f profit earned on capital for all farms 

 is ll'Ol per cent., varying from 20'3 per cent, tenants, 

 Scotland, to 8'3 per cent, home farms, England and 

 Wales. 



The average profit (j>er farm) over all the farms is 

 U.">>V'., the highest profit being shown by tenants, Scotland 

 (1,252), and the lowest by owners, Scotland (359). 



Taking the accounts of /.'//(//</>/ </// W<il<>* only, tenant 

 farmers show the largest profit per acre (1 12.. '.)</.) and 

 the highest rate per cent, earned on capital (12-9 per 

 cent.). Home farms show the lowest figures in both 

 respects (1 0*. 1 1'/, per acre and 8'3 per cent.). 



Taki>ig tin- S '<//'*// A'-' "mil", tenant farmers show the 

 best nKults in all respects, not only of all classes of 

 Scottish farmers, but over those of England and Wales a 

 well. There in, however, only a small number of Scottish 

 accounts. 



1070 



'1 he general results shown by Table 7 are as regards 

 England and Wales that tenant farmers show better 

 profit results per acre and rate per cent, earned on capital 

 than either owners or home f.irms, but on a smaller 

 amount of capital per acre. 



As regards the Scottish accounts, the broad result is 

 that, while tenant farmers here also show better results 

 than owners or home farms, their capital also is greater 

 than that of any other class. 



Labour 



If interest at 5 per cent, on the capital employed be 

 deducted from the average profits of the various classes of 

 occupiers, the result is : 



balance of Profit after 



deduction of Interest at 



5 per cent. 



Per Farm. Per Acre. 



Xmtiintiriei! of Jiii-onte nii/l fc.i-/ii'inlittirr 



Tables 9. to 13 summarise the accounts of all the tenants, 

 owners, and home farms respectively, and show how the 

 profit is arrived at. 



It will be seen from these several tables that the profit 

 shown is composed of two elements : 



(1) The surpluii, if any, of income over expenditure : 



and 



(2) the increase (if any) in the closing valuation over 



the valuation at the beginning of the year. 



Some of the classes of farms show a deficiency of 

 income instead of a surplus, and such deficiencies must be 

 deducted from the increased valuation before arriving at 

 the profit. 



Table 13 summarises in this way the composition of the 

 profit. 



All the Scottish farms show a surplus of income over 

 expenditure. Of the English farms, only tenant farms 

 show such a surplus, and both owners and home farms, 

 England, have a deficiency of income. A large inciease 

 in the closing valuation is responsible in the cases of both 

 owners and home farms for the profit shown. 



7 (c) &:vttisli Arriiii/iiK/ii'i- Ai-i-f. i-.n-lmliiKj Moorland and 

 Waste, Land. 



It will have been observed that some of the Scottish 

 results, when worked out on a " per acre " basis, are 

 relatively smaller than those of the English farms. This 

 has been probably due to the large area of moorland and 

 waste which is included in the acreage of some of these 

 farms. 



I have accordingly worked out the capital and profit 

 " per acre " of all types of Scottish farms 



(1) based on the total acreage, and 



(2) based on the nett acreage, excluding moorland 



;ni'l \viiste. 



The profit per acre on total acreage is 1 5*. 0</. on 

 the nett acreage 2 5". 10</. while the capital on the 

 total acreage is 7 7*. 10f/. per acre, and on the iiett 

 acreage 13 11. 3</. 



It is not suggested that the results on the " nett 

 acreage " figures are necessarily accurate, because the 

 excluded land should bear some rent, &c., and would yield 

 some profit or loss. But the adjustment enables the nett 

 Scottish figures to be more easily compared with those of 

 the English farms. 



H8 



