Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1902-03-11
IOWA FARM LAND VALUES.
(Marshalltown Times-Republican.)

lMdiSldlllOWu i llleS-ItSpuUllCdu.J
A subscriber writes from Bristow
setting forth his belief that Butler
county land and all Iowa lands are not
selling for more than they are worth,
even at the high prices of today. This
gentleman thinks that most all Iowa
farms are worth $500 per acre today
and that they are selling cheap at $40.
This subject of land values is an in
teresting one. Views will differ, but it
should be remembered that. a vigorous
land boom is in full progress at this
time and mems judgment is apt to be
influenced by comparison with large
values on all sides of them. Iowa
farm lands of the first quality will I'M
doubtedly reach an average market
price of 800 per acre sooner or later,
but it is not likely to come in three
years, and it will never come until
the lands are farmed better than they
are at present.
1t is true that during the last year,
when Iowa raised fair crop and near
ly all other states failed, the crop
yield In dollars per acre was very
large. However, this income per acre
over period of years has not averag-
ed nearly SO large. In 1895, figures Of
which we happen to have at hand the
value of all the corn raised in. West
Point township of Butler county (the
farms around Bristow) was $4.35 per
acre and of timothy hay only 1914 per
acre, according to the state census re-
ports. It is true that in 1898 the corn
crop of Iowa was estimated by the ag-
ricultural department at Washington
as worth S8.05 per acre and of 1900
5000 per acre. However, it, will be
| seen that an average between these
figures would be about $3.50 per acre.
Since 1t is conceded that year in and
year out man has to be an exception
al farmer to make any money raising
corn and pay share rent at one-half
the crop, it follows that the land in
Butler county over period of the six
years of 1895 to 1900 inclusive, return
ed only about $3.25 per acre above the
labor cost of raising the crop. This
is the period of good crops and good
times which gave the impetus to the
present boom in land values, and yet
the return was only 6 per cent on $50
an acre, or per cent on 500, allow.
ing $40 per quarter section for taxes
1t is safe prediction that lands in
Iowa will be bought cheeper three
years from now than today, although
the $100 mark will be reached some
day.
1t has been noticed that the rental
value of Iowa farm lands has not riser
along with the sale prices and it is
well known now that man paying $6t
per acre for an Iowa farm today car
expect annual earnings of less than
per cent of his investment. For the
last few years it would have beer
cheaper for farmers to have rentet
their lands at SO per acre cash rem
than to have owned them at the price.
they could sell for but regardless o
this situation few farmers are willin
to offer much more than So per acre
rent and take their chances on crol
uncertainties.
1t is the belief of many who have
studied the question that the time il
coming when the best Iowa farm
lands will be worth 500 per acre, blu
|, they realize that this condition will
not come about until the average DUAL
ity of farmers has risen several de
grees. When intelligent, thrifty fe
lows own the farms, who have none.
enough TO nlSnly Improve tnem, owl
high grade live stock and make ever
acre earn the utmost, the $50 lands G
!, today will easily bring $500 per acre
At present, however, a man must b
first class farmer to make his acre
earn a fair interest on their marke
, price, and the farmer who buys o
? time at per cent interest and sma
. first payment has got some tall hus
3 ling ahead of him before he can pa
Y out. He can rent cheaper than he ca
r own unless he knows enough abor
/ farming to belong to the expert elias
: and then he has sure thing, whethe
e he rents or owns.