FARM PROFITS. OT 
LABOR REQUIRED. 
An average of 19.1 months of man labor per year was used in the 
operations of these farms. Twelve months of this was the farmer’s 
own labor and management, 2.8 months unpaid family labor, and 4.3 
months hired labor. Thus 77 per cent of the labor in operating these 
farms was performed by the farm operator and members of his family 
and 23 per cent was hired. 
FARM CAPITAL. 
There was a decided increase in the capital value of these farms 
from 1910 to 1918. Between the period 1910 and 1913 there was a 
considerable increase in land values. From 1913 to 1917 the increase 
hardly offset the value of additional improvements put on the farms, 
but in 1918 there was another marked increase. There were slight in- 
creases in the average size of farm and in the amounts and values of 
live stock and of machinery. The farm capital for the seven-year aver- 
age was $25,958 perfarm. Of this capital $23,234, or 90 per cent, was 
inreal estate; $1,770, or 7 per cent, inlivestock; $394, or 1 per cent, in 
machinery; and $560, or 2 per cent, in supplies and operating cash. 
The value of land, exclusive of buildings, averaged $21,309 per farm, 
or 82 per cent of the total farm capital. 
RECEIPTS. 
While the farm receipts increased from $1,911 per farm in 1910 to 
$4,386 in 1918, the distribution of the more important items of receipts 
over the seven-year period shows no marked change in the farm 
organization in this area. Hogs were the leading source of income, 
with corn and oats second. The income from wheat varied most, 
but wheat represented only 6 per cent of the total receipts. Even 
with the low yields of corn in 1917 and 1918, a number of these 
farmers maintained the production of hogs by buying more feed than 
usual, and the higher price of hogs increased their incomes. 
Figure 10 shows graphically the average distribution of receipts over 
the seven-year period. Over the later years of the study the propor- 
tion of the receipts from live stock increased and that from crops 
decreased. This was due in part to the poor yields of the last two 
years. Comparing the first three years with the last three, the pro- 
portion of the total income represented by live stock increased 12 per 
cent. Corn, in addition to supplying the farm needs, contributed 
considerable income as a cash crop during most of the years. 
EXPENSES. 
The distribution of farm expenses is shown in Table V. For the 
seven-year period these averaged $931 per farm, or 33 per cent of the 
total receipts. These expenses include $81 for the value of labor per- 
formed by the farm family. The expenses were lowest in 1910 ($624), 
