32 BULLETIN 694, U. S. DEPARTMENT OF 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, Lenawee County, Mich. 
Owner-farms. Tenant-farms. 
= Tenant. Landlord. 
Owner 
: Part of ] l 
as = eae land One- | One-- One- | One- 
Eee rented | Cash half third Cash half third 
1 patel out. rent share | share | rent share | share 
‘ | basis. | rent rent | basis. | rent rent 
basis. | basis. basis. | basis. 
Number of farms..-.........- 300 90 16 33 120 5 33 120 5 
Average area, acreS.-.--.-.-- 104 120 92 102 135 159) loess ones sche Sane Seco 
Average capital...........--- $11,756 | $9,692 | $9,090 | $1,765 | $1,506 $582 | $9,061 ($13,015 | $16,406 
Average receipts. -....------- $1,578 | $1,718 | $1,111 | $1,362 $966 $861 $279 $859 | $1,577 
Average expenses.....------- $510 $764 $385 $623 $326 $485 $30 $129 $507 
Average farm income...----..- $1, 068 $954 $726 739 $640 $376 $249 $730 | $1,079 
Per cent oninvestment...... 5.8 5.9 4.9 20.3 1G See 24: 5.6 6.5 
Interest on investment at 5 
PeVCON Ge. 228! ab eee $587 $485 $454 $88 $75 $29) |occe heel 26 ee ee 
Average labor income...--.-. $481 $469 $272 $651 $564 $341 |.s2 cee eee eee 
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 hatf-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 peculiar 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 live 
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 imcome, which is the gross receipts minus ex- 
penses, the tenants compare favorably with the landlords but fall 
slightly lower than the 300 owners and the 90 owners with additional 
. 
