34 BULLETIN 735, U. S. DEPARTMENT OF AGRICULTURE. 
crop does not get much if the farm is badly handled or if the crops 
are poor from any cause. Most of the cash-rented farms are owned 
by absentee landlords, while many of the share-rented farms are 
owned by farmers who live in the region and can supervise their 
farms to some extent. , 
The average value of the owned beet lands is $123.60 per acre, and 
with interest at 8 per cent this item is by far the heaviest in the list 
of costs of land for beets. The valuation given for share-rented lands 
was $126.91 per acre and for lands that were rented for cash the value 
was given as $134.19. These values are based upon the sale value as 
estimated by the man operating the farm. The average value of all 
sugar-beet land studied in the Billings region was $126.95. Assuming 
that the cost of water for irrigation and the cost of taxes and miscel- 
laneous items are the same for landlords as was found for owners of 
beet lands (a total of $2.13 for these items), the landlords of the 
region have an average of $7.36 per acre for interest on cash-rented 
lands and $11.98 for interest on share-rented lands. This amounts 
to interest at 5.5 per cent on the value as given per acre for cash- 
rented lands and interest at 9.4 per cent on the value of share-rented 
lands. 
RELATION OF YIELDS TO COST AND PROFIT. 
Seemingly there is the most profit in a crop of beets of about 14 
tons or over per acre in the Billings region. The average profit per 
acre, as shown by this study, is the same for yields of more than 14 . 
tons, but this should not be taken to indicate that to increase 
the yields on this land so as to produce more than 14 tons 
is to incur an expense that may not return a profit over and 
above the cost of the extra labor. High yields per acre seem to be 
associated with higher profits per acre. Most growers getting large 
yields are men who use much manure on their beet lands, and it is 
not correct to state that they do not get a profit on increasing the 
vields, as they find employment during a time they might otherwise 
be idle and have idle teams. In figuring the cost. allowance has been 
made for the yard value of the manure and regular prices paid for 
labor. The labor which is done in the winter and early spring is 
profitable, as no profit would otherwise be shown. Horse labor espe- 
cially will show a profit, as the teams would cost about the same for 
keeping whether they were worked or not, and usually the work is 
not hard. To disregard these facts and figure on the actual cost 
might warrant the conclusion that increased yields are not profitable. 
It would be difficult to give any definite yield as the limit of profitable 
attainment, but it is reasonable to assume that it is higher than any 
of the yields produced, and perhaps many tons higher. The growers 
. 
