470 



FARM MANAGEMENT 

 25. PERSONAL, 1911 



The gains and losses on horses, labor, and equipment have no significance, 

 as there are balances due to the rate per hour being a fraction over or under 

 the real cost. The farm balance is due to charging a little more as rent of 

 buildings and land than these cost. The gain on interest should represent 

 interest on the capital owned. It is a little low, as is seen, by comparing 

 with the inventory. 



