AN EXAMPLE OF SUCCESSFUL FARMING 85 



of the small grain and paying cash rent of $4.00 an acre for all the land 

 put into corn. His father gave him two horses and he used his father's ma- 

 chinery to put in the crop. We loaned him $600 to be used in buying hogs 

 and cattle. 



"In 1909 he rented a half section of land and out of the proceeds of his 

 crop of 1908 he purchased farm machinery of his own and more horses. The 

 seasons of 1909 and 1910 were good crop years, and during these two years he 

 added more stock to his farm and more fully equipped himself for the handling 

 of 320 acres of land by the purchase of more horses and more machinery. 

 During all of this time we continued to carry him on the first loan of $600 by 

 renewing the note each year, he paying the interest. 



"In 1911 we loaned him an additional $500 making his total indebtedness 

 to us $1,100. The season's crop of 1911 was very large and the price was good. 

 Out of this crop he sold sufficient amount of grain to pay up all the money 

 borrowed from us and to liquidate other small debts he had made in buying 

 machinery, cattle, horses and hogs, so that in the Spring of 1912 he had all 

 of his debts paid, with a good herd of cattle, a large stock of hogs, horses and 

 machinery sufficient to carry on the 320 acre farm. The crop of 1912 was not 

 an average one, so that the profits of that season were very light. He continued 

 farming this same land during 1913 and 1914, putting the larger part of it 

 into corn. The market price for corn was large, and as he had practically all 

 of the work done without outside help other than one additional farm hand, 

 his expenses were light. 



"Out of the crop of 1913, after paying current expenses and without selling 

 the cattle and hogs, he had about $2,000 in money which he left with us 

 on deposit. 



"During the crop season of 1914 he planted 200 acres of corn. This 

 crop averaged about 60 bushels per acre, making 12,000 bushel yield. This 

 corn was worth better than 50 cents per bushel. The accumulation of cattle 

 and hogs had been very rapid, so that by the first day of December, 1914, out 

 of the proceeds of this crop and the sale of cattle and hogs, after paying current 

 expenses he left with us $5,000 additional money, making in all $7,000. 



"He purchased a 160 acre farm in November, 1914, and promised to pay 

 for it $28,000, eight thousand cash down and long time on the balance at 5 per 

 cent. The land was deeded to him and he gave a mortgage back for $20,000. 

 We loaned him $1,000 for sixty days, assisting him to make up the $8,000. 

 In January he disposed of hogs sufficient to pay back to us the $1,000. So that 

 this young man now has $8,000 paid in on a splendid quarter section of land 

 which is well improved and has ten years to pay the balance of it at 5 per cent. 

 He also owns eight head of horses, 25 head of cattle, 20 head of brood sows 

 and more than $2,000 worth of farm machinery with seed and feed ample to 

 carry him through this season. 



"I make an estimate of the value of his personal property as follows: 



8 head of horses at $150 per head $1,200 



26 head of cattle at $60 per head 1,500 



20 head of brood sows at $25 per head 500 



Farm machinery 2,000 



Seed and feed 1,500 



Paid on land 8,000 



Total $14,700 



"Now that is the net profit from his farming operations in six seasons. 

 When you take into account that this young man started empty handed, it 

 seems to me that it is a remarkable case. This man has also been handicapped 

 by not being married and has done his own housekeeping. 



"I also have another case which I might cite you of great thrift in our 

 territory. It is that of Fred Schimmel, a German whose ancestors as far back 

 as I know were farmers. This man started farming in 1900 by his father 



