FARM MANAGERS 



of city men who go into farming is in over- 

 capitalizing in buildings, on which they ex- 

 pect a manager to make interest. Even an 

 expensive country house that has nothing 

 to do with the farm is often included. 

 Over-capitalization in barns is nearly as 

 bad. As much as $300 per cow has been 

 expended for barns, and for only fairly 

 good cows at that. This makes a tax of 

 about $30 per cow per year. If one is ex- 

 pecting to sell pure-bred stock, he may 

 sometimes secure a profit on such buildings 

 because of the advertisement that they 

 furnish, but not because of their direct effi- 

 ciency in the business. 



On the other hand, there is often too low 

 an investment in productive capital. If the 

 total farm capital is wisely invested, one 

 may expect a good manager to be worth 

 at least five per cent, of it. The average 

 farmer, according to Warren, probably 

 makes a salary of about seven per cent, 

 above interest and business expenses, be- 

 sides having the use of a house and such 

 products as the farm furnishes. If wisely 

 invested, a capital of $15,000 in land and 

 207 



