The log cabin Democrat., 1921-08-13
REPORT ON FARM AT STATE NORMAL AGAIN PRODUCES PROFIT Despite Depreciation in Values and
 Market Prices, Holloway
 Operates at Profit

Although depreciation in the value of live stock and the decrease in mar ket prices for farm products resulted in loss on paper for the farm at ] the Arkansas State Normal during the year ending June 30, comparison of recepts and expenditures reveal a profit from this department of the school under the able management of Prof. Keith L. Holloway His re- port to Pres. B. W. Torreyson and the board of trustees, made public today, shows receipts of $4,4462S and expenditures of $3,811.O1, a net prof. it of S637.27. However, when de. preciation in the value of live stock an equipment is taken into con. sideration, MT. Holloway's report shows a loss of $599.5S. By compar- ison, the inventory on live stock for 1920 was S3,44S.50 and for 1921 S2,265. For equipment, the 1920 in ventory was $87S, and this year. SS27.50.
 Shrinkage in the market prices of farm products, which are followed closely when receipts are computed also affects the report. The same products sold in 1920 undoubtedly would have been one-third higher, while the expense of operation did not decline in the same proportion. The farm at the State Normal is an all year proposition. It is oper- ated for the double purpose as a demonstration farm for classes in agriculture and also for the produc- tion of supplies for the girls dormi- tory. Low rates of board offered at the dormitory are made possible by the farm.
 MT. Holloway found his most prof itable project during the year to be three-eighths of an acre of strav berries, which produced a revenue of Sl89.15. Encouraged by this success in berry culture, one acre of black berries and raspberries are now be- ing planted. Another productive field was 10 acres in oats, which yielded 524 bushels. and the same ground is now planted to lespedeza Irish and sweet potatoes and corn are among the other products of the | farm.
 Supplies of milk the year round are furnished for the dormitory. Mir Holloway has now brought the herd ! of registered Jerseys to ten, and within two or three years, will have | the herd entirely of registered stock. ] The report together with the finan- clal exhibit as submitted to Mir. Tor reyson and members of the trustees. is as follows
 Attached to this sheet you will | find a brief statement of the business carried on by the State Normal School farm during the fiscal year ending June 30, 1921. T
 As you will notice, the value of the receipts somewhat exceeds the total expense on the years business; however, when inventory values of livestock and equipment are taken into consideration, we show loss of l approximately $500.
 "The inventory values at the be. ginning and at the end of the year are both normal.
 Our herd of registered Jerseys now comprises 10 head, of which one ! IS our herd bull, three cows in milk, one bull calf and the balance heif- CTS, one of which calves next March. In two or three years at the outside. we believe that we will be able to have our herd made up of registered animals entirely.
 "The most profitable project on the farm, considering area, costs and value of product was our strawberry patch of three-eighths of an acre. From this area we gathered berries to the value of $189.15. We have en- larged the planting this spring, and in addition are planning a planting of about one acre of blackberries and raspberries which will come into bearing in 1923.
 Our feed costs were less during the past year than during the year previous. We believe that we can reduce this cost even more this year. We have already harvested 600 bush els of oats, which will be sufficient for our stock, and have excellent prospects for our hay and corn"
 Receipts.
 Vegetables ------------$ 919.00 Strawberries -- 18915 .i Milk 2,145. .96 Service fees ------ $500 Sale of dairy stock 125.5O Dressed beef -- 3495 Poultry and eggs -------- 146.70 L Dressed pork - 41115