FARMERS EARNINGS IN SOUTHEASTERN PENNSYLVANIA 
17 
FINANCIAL RESULTS IN 1922-23 
In addition to the products sold for cash the operations for the 
year of the surrey must be credited with any increases in the value of 
livestock or crops on hand at the end of the year. The yield of hay 
in this area in 1922 was unusually heavy, averaging 1.7 tons for the 
county against an average yield of 1.4 tons over the period 1917 to 
1923. Partly as a result of this heavy yield of hay, on most farms 
more feed crops were carried over to the pasture season of 1923 than 
to the pasture season of 1922. In addition to this, many farms had 
more livestock on hand at the end of the year. 
Besides the increase in inventory, the value of farm products 
consumed by the family must be included to obtain a complete state- 
ment of the products for the year. Although not a cash item, this 
represents a real part of the income produced, especially since any 
milk, eggs, or hogs not used could have been readily sold. 
Table 16 brings together the receipts and expenses for the more 
important groups of farms. For the dairy farms the cash receipts, 
family use of farm products, and increase in inventories averaged 
S3. 843, more than other group of farms except those growing mush- 
rooms. 
Table 16. — Financial results for specified groups of farms 
Item 
Number of farms 
Average acres 
Average acres in crops 
Average number of dairy cows. 
Value of products: 
Products sold ' 
Farm products used by family 
Gains in inventory 
Dairy g£ ^-jSgr M»ta»m Crop 
270 
105 
14. 
Dollars 
3,437 
274 
132 
Dollars 
2,631 
306 
157 
25 
115 
65 
14.9 
27 
58 
34 
1.5 
Dollars 
7,432 
332 
35 
Dollars 
268 
210 
29 
123 
73 
6.2 
Dollars 
2,598 
308 
371 
Total value of products ' 
3.843 
3.094 ' 
7.799 
6.884 
3,277 
Charges against products: 
Cash expenses except land and interest 
charges 1 
Value of familv labor. 
1.947 
288 
594 
2,829 
1,014 
1,022 
1,484 
387 I 
439 
4. 133 
460 1 
760 
4. 513 
199 
.501 
1,616 
325 
Charge for use of real estate and capital 5 
613 
Total charges ■ 
2.310 
5,3.53 
5,213 
2, 554 
Operator's earnings 1 
Less value of operator's labor including 
perquisites 
784 1 
997 
2,446 
1,051 ' 
1,671 
962 
723 
1,016 
Management earnings 
-8 
-213 ] 
1,395 1 
689 
-293 
1 Includes some miscellaneous items not shown in previous tables. 
2 Includes firewood: excludes products used by hired men. 
3 At 4 per cent for real estate and 6 per cent for working capital. 
Besides the cash expenses the charges against the product also 
include the value of the family labor and a charge for the use of land 
and capital. This latter is computed at 6 per cent on working 
capital given in Table 17, and at 4 per cent on that part of the real 
estate used in the farm business. 5 The value of the dwelling was 
not included, because no allowance was made for the value of its 
use by the farmer. Taxes, interest, and other land charges would 
have to be paid out of the 4 per cent covering the entire land charge. 
« In this area farms rent for cash for about 4 per cent of their sales value, according to the data obtained 
in the 1920 census (4) . 
74652°— 26t 3 
