44 



X. II. Agr. Experiment Station 



[Bulletin 260 



Variations in Labor Incomes 



The largest labor income in this frronp of farms was $5,138; the 

 smallest lacked $2,670 of being able to meet all expenses and interest 

 on the investment (Figure 5). The number of minus labor incomes 

 was 143 and of plus labor incomes 252. The largest number was in the 

 to $500 group, 103 farms. The average labor income for this group 

 was $2-: 



-^^MS 



,, >,m >; ^>^ -; 



Fir.URE 5. Distributi 



<if Inbdi- iiiconies bv classes. 



Privileges 



The items contributed by the farm to the 414 families amounted to 

 an average of $404 worth of produce per family, as listed in Table 33. 

 Milk, eggs, potatoes and Avood made up three-fourths of the total 

 value. 



Returns on Capital 



Each farmer was asked to estimate the value of his own time. This 

 was usually made in comparison with hired men's wages. In this re- 

 gion, hired men are most often unmarried men that live with the fam- 

 ily. The average estimate of all farmers was $1,180, $792 cash plus 

 $388 worth of i)rivileges. The i)rivileges of $1.0G ])er day correspond 

 to those of unmarried hired men. The estimated average cash value 

 of the o])erator's time may be subti'acted fi'om fai"m income (return 

 from cai)ital and operator's labor) to give tlie return on cai)ital. The 

 average i-etuni for the whole group was $162 per farm or 1.4 per cent 

 on llic cai)ital invested. 



Price Adjustments 



To illustrate wliat can happen to farm jjrofits as a result of chang- 

 ing prices, some comparisons will be made with more recent conditions. 



