AS BULLETIN 1421, U. S. DEPARTMENT OF AGRICULTURE 
DISTRIBUTION OF CAPITAL 
The average values of real estate per acre presented in Table 28 
do not differ materially from the corresponding values shown in 
Table 6. As would be expected, however, the dairy farms had a 
much greater proportion of the total capital invested in feed and 
supplies, livestock, machinery, and buildings than had the general 
crop farms. 
= 
TABLE 28.—Distribution of capital on dairy farms, 1919-1922 
1919 | 1920 1921 
Items 
| 
iAnmM Ss SEUGied | MUI bere 2 = eee eee ee ee | 8 il 16 
; Dollars | Dollars | Dollars 
Value of real estate periacre=——==-—— == === = 225 sO aa 06g 283 
Average capital perfarmm-o2 255 9) Ssuse Sages era eet 34, 771 33, 549 | 26, 318 
Realiestatece s-seb ee ee eee 28, 372 28, 183 21, 960 
Pande 2 eo a) eS ee ee QD Mt2 24, 268 18, 582 
Dwelling: (2.2222 = 22 ake eee ee ee eee ee 1, 550 | 2, 458 2, 419 
Other: buildings 328-22 322 see ee Se eee eee 1, 050 1, 457 959 
Working \capitale s 5-2 Se ee 6,399 | _5, 366 4, 358 
ee 
TGV ViCSUO Cette eet a eee een cn ee ape oper 3, 676 2, 835 2, 650 
HIE TG) OT aes Arenas spe ements eat ae ORS ee ee ee Dee 1, 471 1, 389 1, 260 
WM ECAS:AN GSU PPE i ee ees ee es a eee 996 903 242 
Otherworking capital: a s8 ee eee ees 256 239 206 
BUSINESS SUMMARY 
A summary of the business of the dairy farms is presented in Table 
29. Of the total output, averages of 52, 46, 59, and 54 per cent, 
respectively, were derived from the sale of livestock and livestock 
products in 1919, 1920, 1921, and 1922. Since practically all of the 
income from these two sources came from the dairy herd, the type of 
farming was rather well balanced between cash crops and the dairy 
enterprise. 
TABLE 29.—Business summary for dairy farms, 1919-1922 
Warms studied, numbers ao so oe ce 
SIZesOl farm ACreSse ee et ee ee eee oe a ee are 
Outpubiper farm isc Fae Se Se ee a a eee 
Cash output_.____- Bere Cet oe Bt LA er Re © Ree te | 
Sale livestock products 
Other sources 
INTON CASH OU tp eres ee ce re loa CO ae ee 
Bamilyaperd WISiteseae ae sae ee a cee ee 
ImeredsesiniventOpieSs= 2 sa ea a ee eee 
input per iar, (Other thaniofi capital) = see eee 
@ashi Inputs see Ni se SE ae el ee eR eae eer ee 
INoncashin put. s 2eee So ee ere eee ase ee ee 
Decrease inventories_ 
Operator’ silabors=e- 2s Soe ee ae eae eee ee ee 
Unpaid family labor 
Return-to; Capibalen. tes ee A ee ea 
Return to capital, per cent 
The total value of the capital used in computing the percentage return to capital is considerably lower 
for Sa and 1922 than for 1919 and 1920, chiefly because of the lower value of real estate per acre (See 
able 28). 
