20 BULLETIN 41, U. S. DEPARTMENT OF AGRICULTURE. 
TABLE XIII.—Felation of the labor income to the distribution of capital on 273 
farms operated by their owners in Indiana, Illinois, and Iowa. 
Percentage in— 
Labor income. eee 
al eelvedl Machin-} «, 4 : 
| ee ery. Stock. | Supplies. 
— a ieee 
eS AO AM GNOTS 2a etn k Tae Ce ts | $46,582 | 89.7 1.2 | 6.7 | 2.4 
See G S200 a et ye re ne The eager 25, 933 89.2 1.1 | 7.4 2.3 
SE SIODILO SUMS G ose te Sy Rn ee hae ceeneel 16, 883 88.5 12) (eal 2.6 
SINCE AIO ip et, ee ra Pea 19,753 89.6 1.4 | 6.7 2.3 
TIA 11, se eS eI OED 2 gia Mae Tn 20, 435 86.7 zal 9.1 2.5 
BIGISLOSGOUM es ee Es Ae ge en Fe 27, 986 86.8 2.0 | 8.2 | 3.0 
SOG IRCOSSUO Mere eee ot ute a ee ee or 30, 158 86.6 1.3 | 8.9 3.2 
BSL OST O00 a ey ea ee bake 35, 082 89. 8 132) 6.9 a 
CLIT 1308 SIO oa ae Te ala Salsira aeeee T err ree = 32, 658 88.2 1.4 8.0 2.4 
SI IEE S200 ee ee ee Be hale 46, 573 83.7 1.0 17 3.6 
S210 TAN GION CTs ae on ee ee ee ee oes US Sr 55, 625 | 85.1 1.0 11.0 2.9 
PAV CPARO = oi Be oe Biveraig oa ae I 30, 439 | 87.6 | 1.3 | 8.4 2. 
~ 
It will be noted that the men having the lowest incomes have nearly 
as much capital as those having the highest. A large business is neces- 
sary to incur large losses; similarly, large incomes can not be expected 
from small investments. Small incomes usually attend small busi- 
nesses. Where land values are high, the amount of money invested in 
working capital becomes proportionately small. 
DISTRIBUTION OF THE TENANT’S CAPITAL. 
The tenants in the States reported upon have less than 10 per cent 
as much capital as the owners. This is shown in Table XIV. 
TABLE XIV.—<Average distribution of the tenant’s capital on 247 farms in 
Indiana, Illinois, and Iowa, 
A fren oc : | = etait | General 
Distribution of capital. | Indiana. Illinois. TOWN peers ge. 
| | 
Meriva totale to etek aye Aes ee Ee Pole rw $1,644 | $2,740 | $2, 459 | $2, 281 
Average invested in live stock...............-.------- per cent.. 62.01 63.81” 66.2 64.0 
‘Average invested in machinery..............------------ do.... 145 Ale eAse9 | 13.7 14.0 
Average invested in grain and feed....-...........------- do: -.- (hole 14.3 | 14.1 14.5 
ASV CTAC CMT CAS 52th sock, - Sac Soe Glee eres ee oe eee pa aeiaraele Ol oae 8.4 | 8.0 | 6.0 | 7.5 
Two-thirds of the investment of the tenants is in live stock, a 
large part of which is work horses. In a region where the system of 
rental is for the landlord to furnish half of the working capital the 
amount needed by the tenant is less. Few landlords furnish any of 
the working capital on the farms studied in this survey. 
RELATION OF THE TENANT’S CAPITAL TO HIS INCOME. 
A farm owner having a large investment, nearly 90 per cent of 
which is in real estate, can let it lie idle or nearly so for the entire 
year. It is partly due to this indifference on the part of some 
farmers that all men with large capital fail to show good returns. 
