Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1920-10-18
IOWA FARMS LEAD
IN GRAIN VALUES
GOVERNMENT ISSUES REPORTS
ON FARMS OF VARIOUS
STATES.
VALUES IN IOWA SHOW
INCREASE OF 500 PER ACRE
High Prices of Land Result In De-
crease Of Number Of Tenant Farm
srs-Fswer Speculators and More
Actual Farmers Now Own Lands
Tenancy Problem Not Solved.

washington, Oct. 1S.-Iowa land
increased in value on an average of
$8s an acre between March, 1919, and
March, 1920, according to figures
Just given out by the United Safes
department Of agriculture. q COM
mittee from which has recently COM
plstsd an investigation OF the recent
land boom, which affected farm
property in the entire country.
The increase in Iowa was larger
than elsewhere, tho committee found,
and its result was to increase the
number Of farms owned by farmers,
and to decrease the number OF farms
operated by tenants.
u Lsads v. S. in Grain.
The report Of the comittee. given
In full In the October isisue OF Great
or Iowa. the Iowa department Of ag-
riculture's publication. shows the fol-
lowing things:
The land boom in Iowa. was part of
q general increase in property move
ment turnout tho United States dur
ing the past year, amounting to II
per cent.
The increase was moro extreme IN
Iowa than elsewhere. averaging $6S
an acre, or Sc per cent from March.
1919, to March, 1920.
while there were q few sales at
unusually high prices, less than s
per cent were at $500 an acre or
more.
Probably less than 10 per cent Of
Ill farms changed hands during the
boom.
About Is per cent Of the farms for
which figures were obtained were
sold twice during the boom. ~ per
cent three times. al per cent four
times or more. !,
Farmers constituted s5.s per cent
OF the purchasers, and only IS per
cent Of tho sellers.
Decrease Ii Tenartry.
Analysis Of the occupations and In
tentions OF buyers and sellers indt-
Gates TINT there has been an Inn,
mediate tendency toward an increase
In the proportion Of farms owned
by farmers and also toward q de-
crease in the proportion to be operat-
ed by tenants.
About, tWo-thirds Of this increase
In value on farms bought and rcsold
during the boom was appropriated by
residents Of towns and cities.
The departments report follows:
..The land boom that swept Iowa
during the summer OF 1872 forced
prices Of farm lands In that state up
to q level at which 1t was impossible
for any but the exceptianal farmer
to make more than per cent on his
capitalization and made It out Of the
question for large proportion OF
the tenants to buy land on borrowed
capital with a fair chance Of paying
out. These are among the outstanding
facts brought out by an investigation
'of land values In sixty Iowa corn-
ties made by the department OF agri-
Aculture in cooperation with Iowa
Estate College. The current high cap
italization Of land in Iowa has been
assumed on the basis Of the actual
sale Of comparatively few farms
labout 10 per cent? and that this high
valuation 10 not justified by the
earning power OF tho land.
THE investigation, conducted by
the Office Of farm manageruents,
yielded figures on LIZA sales made
between Jan. / and Sept. l6, 1919.
8 The conclusions drawn are based on
these figures, taken together with
data on farm incomes on some 400
selected farms and with supplement
tai data derived from farm manage
ment surveys made previously by the
3 Iowa State College.
"a ~. e>>>sI
Ut was found that the increase In
average value OF farm lands In tho
counties In which the investigation
conducted was greater during
year Of the boom ($63) than during
fifty years from 1850 to 1900. Al
- 3 rate the increase In farm capl-
iization for the year in the state
a whole would be over $1,000, 000.-
10. II the comparison is made be-
,ween values In 1915 and 1920, the
increase in value per acre Ill $121,
and for the state nearly $4,000, 600, 900.
I'm discussing this increase DR..
L. c. Gray, who had charge Of the in
vestigation for the office Of farm
manageme says:
so striking an increase In the
value OF farm lands in a single state
cannot but have a profound econom-
lie significance. While it is too early
TO determine all the economic conse-
'Iiouences, 1t is time careful attention
were given to the phenomenon, and
i that serious consideration be de-
voted to the problem of determining
what this enormous increase may
signify for the welfare and prosper
ity Of the farming industry, and the
future land policies Of the United
States
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