32 



BULLETIN 694, U. S. DEPAST'MeMt OP AGRICULTURE. 



were visited and the records taken without discrimination in the 

 area studied. 



Table XVI. — Average area, capital, receipts, expenses, and profits of owner-farms as 

 compared with tenant farms, Lenaivee County, Mich. 



Number of farms 



Average area, acres 



Average capital 



Average receipts 



Average expenses 



Average farm income 



Per cent on investment 



Interest on investment at 5 



per cent 



Average labor income 



Owner-farms. 



Owner. 



300 

 104 

 Sn,756 



SI, 578 



S.510 



$1,068 



5.8 



S481 



0\\'ner 

 renting 

 laddi- 

 tional 

 land. 



90 

 120 



S9, 692 



81,718 



S764 



S954 



5.9 



Part of 

 land 



rented 

 out. 



16 



92 



S9,090 



81,111 



8385 

 8726 



$272 



Tenant- farms. 



Tenant. 



Cash 

 rent 



basis. 



33 



102 



81,765 



81,362 



$623 



$739 



20.3 



$651 



One- 

 half 

 share 

 rent 

 basis. 



120 

 135 



81,. 506 

 8966 

 8326 

 8640 

 16.1 



8564 



One- 

 third 

 share 

 rent 

 basis. 



5 

 159 



8582 



8376 



Landlord. 



Cash 

 rent 

 basis. 



33 



9,061 

 8279 



$30 

 $249 



2.7 



One- 

 half 

 share 

 rent 

 basis. 



120 



813,015 



$859 



8129 



8730 



5.6 



One- I 



third ' 



share | 



rent j 

 basis. 



816,406 



81,577 



8507 



81,079 



6.5 



It will be observed in Table XVI that the average size of the 

 300 owner-farms was 104 acres, the owner with additional rented 

 land 120, and the owners with part of the land rented out 92 ; whereas 

 the cash tenant farms were 102, one-half share 135, and one-third 

 share 159 acres, respectively. Here it will be noted that the prin- 

 cipal group of tenant farms, those rented on the half-share plan, 

 are on the average considerably larger than the owner-farms, and 

 that the small number of farms rented for one-third share average 

 still larger. This last-named class is of rather pecuhar type, since 

 the owner, in addition to working on the farm himself, generally 

 furnishes all equipment and most of the live stock, giving one-third 

 of the farm income and a credit of one-third of the increase in hve 

 stock to the renter for his labor. Only five such farms were found 

 in the four townships studied. ■ 



The 300 strictly owner-farms had an average capital of $11,756, 

 the 90 owners with additional rented land, $9,692, and the 16 owners 

 with part of the land rented out had an average capital of $9,090. 

 On the 33 cash-tenant farms the tenants had an average investment 

 of $1,765, and their respective landlords had an average investment 

 of $9,061; the 120 half-share tenants had an average investment of 

 $1,506, and their landlords had an average capital of $13,015; and 

 the five one-third share tenants had the very low average capital of 

 $582, whereas their landlords had an average investment of $16,406. 



In regard to farm income, which is the gross receipts minus ex- 

 penses, the tenants compare favorably with the landlords but fall 

 shghtly lower than the 300 owners and the 90 owners with additional 



