The Bismarck tribune., 1924-01-29

| SALES HELP
FARM ASSETS
Survey Covering Several
Townships Is Made by n. 1
ID. Ag. College Man
Y RES IN SIZ E
Net Worth of Tenants, How
ever, Does Not Change
Much as Size Increases

;otal assets of farm owners in an
area covering four wnships Of Fos
.cr county is $29,Il9 and the average
;otal assets Of tenants in the same
area is $3,i2G according to statistics
compiled by Rex f.. willard, farm
economist at the North Dakota Agri-
cultural college.
These figures are the result of
arm survey made recently in Foster
county under Mr.. Wizards direction
Every farm in three Of the townships
was covered in the survey and a pOr
lion of fourth township was also
covered.
1--WE believe that the survey rep
resents the conditions over wide
area, equivalent to more than one
half the area of the state of North
Dakota" says Mr.. Willard. One hun
drcd six farms were included in the
survey. SiXty-onc owners and 40
tenants were listed.
The average size Of all farms sur
veyed is 575 acres; the average size
of owned farms is 42S acres, ana
these owners rent l9l acres addl-
tional; tenant farms average DIG
acres each. Crops occupy 81 percent
of the farm area. and pasture, ID
percent Wheat occupies 2l7 acres,
or II percent of the crop area.
The yield of crops in 1928 was
approximately 40 percent below the
five-year average. The five-year av-
cragc yield of wheat was 80 bushels;
of oats, 21 bushels; of barley, lG
bushels, and of flax, T.2 bushels.
Corn was the only crop that main
4 tained the average in 1928, the aver
age yield being Is tons of fodder or
: q bushels of corn.
f Value of Livestock
The average value of livestock per
farm in the area is $1755. Owners
have a greater investment in live
sstock than have tenants. One farm
.had no stock except horses, and 90
tout of 1906 had five milk COWS or less.
ION q farms there were no brood
Icows, and four farms had no poultry
Iwhatever. Only Is farms out of LOG
lhad sheep.
ii The average number Of work hor-
Uses per farm is IA; of milk cows, 6;
of sows, five, and of poultry, III.
|EOwners have relatively higher num-
ber than have tenants of all classes
of stock except of hogs, which are
greater in number of tenant farms.
One farmer handled 1000 head of
|ipoultry.
The average income per head from
milk COWS is $50 and the average
| cash income from all cattle including
beef is $23 per COW.
Ninety percent of all farms made
sales Of wheat although all farms
produced wheat. Twenty-one percent
of the farmers sold flax and l6 per
cent sold rye. No other crop sales
Of any Importance were made.
Many in Dairying
Of the 106 farms II per cent made
sales of dairy products. torty-seven
percent of the farms made sales from
other cattle; Twenty owners and 10
tenants reported purebrcd bulls, and
16 owners and l5 tenants had grade
or scrub bulls.
The predominating breed of cattle
is Shorthorn. Among hogs, Duroc
Jersey and Chester Whites arc 'the
leading DfccuS.
The total average gross cash m
come per farm is S9GS; this income
is slightly higher on owner farms
than on tenant farms. This income
represents a turnover of 3.3 percent
on the average investment of own
ers. The average total assets OF
owners is $29,4l9, and of tenants,
/ S3,l26. The average liabilities Of
owners amount to $ll,3l7, and of
tenants, $l,9l9. The average net
worth of owners is $1S,102, and of
tenants, 81 ,507.
Among all the farms 10 percent
were found where liabilities amount
to 100 percent or more of the assets.
On "a percent of the farms liablli-
b ties amount to more than three
h fourths of the assets. Fifty seven
percent Of the farms have less than
81 half their assets covered by liabiil-
+ ties and five farms of the 106 have
H no liabilities.
!, Fifty out of 61 owners carry fire
y insurance and 25 carry livestock in
I, surance; 20 carry state hail insur-
!. ance, and 20 out of 81 owners carry
/ life insurance. Not so large a pro-
II portion of the tenants carry lnsur-
\ ancc on their stock as do owners,
4 but a greater proportion carry hall
j insurance on the crops.
Size Effects Assets
! Size of farm directly affects as
sets and liabilities of both owners
Z and tenants, both increasing as the
size of farm increases. Net worth
! of owners increases as the size OF
farm increases but the net worth OF
tenants does not materially change
with the size of farm.
AS the size of the farm increases
the average amount OF first mort
cages per acre decreases and the rel
Il alive amount of liabilities to assets
q also decreases.
4 Livestock business has direct
4 hearing on net worth. AS the amount
y If sales of livestock increases, thu
net worth Of the farmers increases
duo not only to the sale OF livestock
and products but to other factor:
directly affected by the livestocl
I,,usiness. In the case OF tenan
farmers where the comparison is alb
solutely reliable a difference of NOR
than 100 percent in net worth i
noted between those securing lo'
and high production.
Of the 81 owners, As qualify t.
receive the loan from the standpoin
of financial and moral risk. OF IN
tenants, 3S out of 45 pass the test
IN the aggregate OF all the farmer
who desire the loan @and who pas
the test of financial and moral rat