FARM MANAdKIYIKNT TIM>Y Oh' COTTON FARMS. 



13 



Table II.- 



-Value of land operated under different tenures ami income in the 

 owners of the land, Ellis County, Tex., in WU/. 



37 working owner farms 



24 share rent farms 



18 share-cash rent farms 



18 share-cash rent farms (cash rented land) 



Value per 

 acre. 



5151 

 137 

 111 

 141 



Gross in- 

 come per 



acre for 

 owner, 



$26. 40 

 6. 18 

 6.42 

 4.S2 



Net in- 

 come jier 

 aero for 

 owner. 



$11.89 



4. SO 

 5.04 

 3. 44 



Per cent 

 rel mil on 



in e i - 

 men I, (jf 

 owners. 



5.9 

 3.5 

 3.6 

 2.4 



From the standpoint of the tenant or other individual who has 

 a limited amount of capital, but who desires to become a landowner, 

 it is very important that a close approximation of the earning value 

 of the land be known. When this value is known it is possible for 

 the prospective buyer to determine what portion of the cost price 

 must be paid at the time the land is bought and how much may be 

 met from the earnings of the land. It is, however, highly important, 

 that the tenant farmer should look forward to the time when he can 

 make a sufficient first payment on a farm to render it possible for 



LAND 



DWELLING 



6*6 

 5.8 











&TOCK 



z 4. 5 



an 







E 



ul OTHER BUILDINGS 



1- 



j 6 



■ 







MACHINEP.Y 



S '-6 



■ 







FEED & 6UPPUES 





■ 







C49H TO OPERATE 





■ 







Fig. 3. 



-Proportionate capital invested in various items (average, 115 farms, Ellis 

 County, Tex.). 



him to become an owner. Ownership is greatly to be desired because 

 of its effect upon industry and citizenship. The sense of possession 

 and the inducement to save in order to own a home warrant extraor- 

 dinary effort if a considerable initial payment can be made and rea- 

 sonable rates of interest can be obtained. 



The graph (fig. 3) shows the average distribution of capital at the 

 present time as indicated by the records of 115 farms of Ellis County. 

 Land represents 82.6 per cent of the total farm investment. Dwell- 

 ings represent 5.8 per cent, while other buildings such as barns, 

 tenant houses, sheds, etc., represent 2.6 per cent of the total. The 

 remaining working capital, consisting of stock, machinery, feed and 

 supplies, and cash to run the business, amounts to 9 per cent of the 

 investment. 



NORMAL CONDITIONS. 



It is appreciated that definite conclusions regarding farm business 

 can not be drawn unless practically all conditions are near the aver- 

 age for a considerable period of years. The records of this survey 



