18 BULLETIN 13822, U. S. DEPARTMENT OF AGRICULTURE 
they affected real estate used to produce for the market. In general, 
however, it is fair to assume that consumption real estate entered 
into the rents in about the same degree that it entered into the 
valuations. 
TABLE 7.—Jlarket v. computed valuations, selected farms, 1896-1920 
Value computed 
Market | pate ot | Interest | Rents per acre, 5-| by capitalizing 
valua- Vv 1 i 
Hionae interest | on real year average oe interest 
Date on farm estate 
acu ort- valua- eal, 3 
ages ion : econ 2 cond- 
estate page tio Primary ry’ Primary ere 
Per cent 
A S9G Ses a Poo Be pe ne he eid $18. 50 8. 28 $1. 532 $1. 08 $0. 93 $13. 04 $11. 23 
TUS eects al RMA eau ao and ag - 18.00 8. 02 1. 444 1.15 1. 00 14, 34 12. 47 
TRS TOS A aa Salat a (ot Es a ee 21. 50 7.68 1. 651 73 . 58 9. 51 7.55 
HMSOQ SS or OE Pape eee tee 22. 00 7.10 1. 562 . 76 . 61 10. 70 8.59 
TE 0) OOP ea Np A) REO es 22. 50 6. 64 1. 494 - 95 . 80 TEE BL |S = enlOd OS 
TS) 0) RRS aA of IN TA ae We a 22. 00 6. 52 1. 434 1.19 1.03 18. 25 15. 80 
GOD Pee Ceri eaten me inate ze 25. 00 6. 42 1. 605 1.49 1. 33 23. 21 20. 72 
OOS ey a cee ae CREE OTe. 25. 00 6. 24 1. 560 2. 00 1. 82 32. 05 29.17 
TOO A EROS 2 LORRI en OUR 25. 00 6. 14 1. 535 2.18 2.01 35. 50 32. 74 
EL OE a oe ae ere weet eet Nae 30. 00 6. 06 1. 818 2. 20 2. 02 36. 30 33. 33 
EU OG es a a 32. 50 6. 02 1. 956 2.45 2.27 40. 70 37.71 
TET NY fo RMR iis Sw el a het shi 35. 00 6. 02 2. 107 2. 59 2.41 43. 02 40. 03 
AGO G2 2 Se, AE NEL Biv es 37. 50 6. 06 2. 272 27, 1.99 35. 81 32. 84. 
OOO EE ote 2 Sei tenis yi A ee 40. 00 6. 08 2. 432 2.19 2. 00 36. 02 32. 89 
POLO UES ee Ee ae Eee e 53. 00 6. 02 3.191 2.10 1.90 34. 88 31. 56 
TAOS 1a eee een eo ee oe 55. 00 5. 96 3. 278 1.78 157 29. 87 26. 34 
LODZ ete Seema neten! weae Ces. 65. 00 5. 90 3. 835 1.40 1.18 P18) 20. 00 
NOLS RES. VER ee yeep en eg 69. 00 5. 82 4.016 1.96 Leal 33. 68 29. 38 
2): Lo Sea ye Sie Sees Spe ac ek 8 67. 50 5. 80 3.915 1. 67 1.39 28. 79 23. 97 
ROU arb As A Saeed ae 82. 50 5. 78 4. 768 2. 65 2aoo 45. 85 40. 66. 
BLOG seer Sys 85. 00 5. 80 4. 930 3. 66 3. 32 63. 10 57. 24 
TAS (at pa HT a 90. 00 5. 82 5. 238 3. 67 3.23 63. 06 55. 50 
ARCH esc sea PR oe Oy ALT ah Oe 100. 00 6. 06 6. 060 3. 60 3. 09 59. 41 50. 99 
IKE AY be ak RTT ee ee 110. 00 6. 36 6. 996 3. 52 2.90 55. 35 45. 60 
T9204 Rewees See en ene 110. 00 6. 52 Tui 2. 49 1. 80 38. 19 27. 61 
ns in- 
Excess of market valuation over computed epnsae Me wee ae 
valuation to make rents pro- 
Date | _ duce on market valu- 
Primary Secondary? ation a percentage 
equal to interest rate 
Amount | Per cent Amount Per cent Primary | Secondary 
—————————— EE OO 
TSOG 2. ota Sb cs Se $5. 46 41.9 $7. 27 64.7 $0. 037 $0. 050 
[RSS 5, ONE EO i ae SA 3. 66 25. 5 5. 53 44.3 024 - 036 
SOR Reema La meen exo eee oe 11. 99 126. 1 13. 95 184. 8 071 - 082 
SOO sie Cie ie x a ee oh ys 11. 30 105. 6 13. 41 156. 1 057 . 068. 
LOO TRE oe seen Doge oad 8. 19 57. 2 10. 45 86. 7 036 - 046 
MOQU EES. Us eenem ieeri ee 3. 75 20. 5 6. 20 39. 2 016 - 026 
OO 2.2 ev Dee S Bae ae 1.79 7.7 4, 28 20. 7 007 - 018 
OQ SE Stet 2) + ARE eee —7. 05 —22. 0 —4.17 —14.3 —. 027 —.016 
OQ 4262 © va 8 saree ihe Se . —10. 50 —29. 6 ib —23.6 —. 040 —. 029 
MOQ Soe eo. eae tre Ue sl cl —6. 30 —17.4 —3. 33 —10.0 —. 023 —.012 
LQOG Es Sa eee LEE eee Tee Rs —8. 20 —20: 1 —5. 21 —13.8 —. 030 —.019 
QO feet See ta 2 te 2 ere —8. 02 —18. 6 —65. 03 —12.6 —. 029 —.018 
OOS eres 2 STi Fe ete ne SEE 1. 69 4.7 4. 66 14. 2 006 - O17 
EY Ue anes Seay eae 3 ope 3. 98 11.0 genial 21. 6 015 . 026 
ORE er} areas ee 18. 12 51.9 21. 44 67.9 066 - 078 
ONT ees SEE 2 2 ee ee 25. 13 84. 1 28. 66 108. 8 089 - 102 
OU Dicks = oh a 41. 27 173. 9 45. 00 225. 0 144 ~ 157 
LOU Gees) eee ees 35. 32 104. 9 39. 62 134. 9 120 - 134 
ROU A SS UNE yo. Re eae 38. 71 134. 5 43. 53 181. 6 130 - 146 
TAS a ie oe ae ee 36. 65 79. 9 41. 84 102. 9 122 - 140 
LONG Fae N eo a EE 21. 90 34. 7 27. 76 48.5 074 . 093 
OU (eke ee ee, BR CR Ae 26. 94 42.7 34. 50 62. 2 091 “17! 
OLS Lee eS oe 2 ee 40. 59 68. 3 49. 01 96. 1 . 149 - 180 
MOIQGS Piao. a tenrees fa arab 54. 65 98. 7 64. 40 141.2 . 221 . 261 
O20 ieee 27s iE ania isa 71. 81 188. 0 82. 39 298. 4 . 805 - 350: 
1 Except for 1919, when the average is for 3 years and for 1920, when it is for 1 year. The year indicated 
is the middle year of the 3 and 5 year groups as averaged. 
2 Rate at which interest was paid on an aggregation of 10 typical first farm-mortgage loans on similar land 
in Cass County, the figures shown here being 5-year moving averages. 
3 Primary net rents less real-estate taxes. 
4 Without regard to anticipated changes. 
5 Or deficit. 
6 Based on average for 3 years. 
7 Based on data for single year. 
eee he ge ms ee 
