RENTING TRUCK FARMS IN NEW JERSEY. 



17 



Table XII. — Landlord's and tenant's average receipts and expenses on 13 New Jersey 

 tenant farms rented for a share other than a half. 



Landlord. 



Tenant. 



Sources of receipts: 



Nontruck crops sold. 



Truck crops sold 



Income £rom stock. . . 

 Other receipts 



Total. 



Items of expense: 



Feed 



Seed 



Commercial fertilizer 



Stable manure 



Packages 



Spray material 



Tool maintenance, 18 per cent on value ($377 and $133) . 

 Sash maintenance, 10 per cent on value ($135 and 818).. 



Hired labor, board included 



Family labor .• : 



Real-estate tax 



Maintenance of buildings, 4 per cent on value, $1,992 



Other expenses 



Total. 



Interest on landlord's capital .-. 



Labor income of tenant and interest on his capital 



Interest on working capital at 6 per cent (landlord, $1,722; tenant, 



Labor income of tenant 



Interest on real estate, 6.6 per cent on $7,838 



Equivalent cash rent per acre, $7.43. 



$127 



1,488 



171 



84 

 111 

 336 

 169 

 64 

 15 

 68 

 14 

 84 

 31 

 75 

 83 

 32 



1,163 



623 



103 

 '520' 



893 



155 



1 



13 

 1 



24 



2 



480 



19 

 2 



503 

 46- 



457 



CASH RENTING. 



On farms let for a cash rent the tenant furnishes everything except 

 the land and buildings. The farms are, on the average, smaller and 

 less valuable than farms let for a share. The average rent paid per 

 acre is less than that which landlords receive who let their land for 

 a share of the crops. This is to be expected because these farms are 

 less desirable and because the landlord lettuig for a cash rent does 

 not take the risk entailed by variation in season and market, nor 

 does he risk losing an investment made in fertihzer and manure as 

 do landlords who let for a share. The equivalent cash rent per acre 

 on 22 cash rented farms raising early truck was $3.C5 as compared 

 with an equivalent of $6.88 on 90 early-truck farms let for half of 

 the crops. The equivalent cash rent per acre on 13 cash rented farms, 

 noising late truck was $5.25 as compared with an equivalent of $7.29 

 on 90 late-truck farms let for half of the crops. 



The cash rent is usually paid in two installments per year. ITo 

 set time for the payments Ls generally recognized, but it is usual to 

 mjJie the first payment as soon as some of the crops can bo sold. 

 On some farms the rent Is payable all or part in advance. Some 

 tenants paid a certain stated cash rent and the real-estate taxes in 

 addition, and one paid a stated rent and taxes and also maintained 

 the buildings and fences in good ccnidition. 



