Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1929-04-05
Insurance Firm Russ 600 Farms.

Six hundred farms in Illinois, Ohio an,
Indiana. with an approximate total value
of SIS 100000 are operated by a New
York life insurance company which hb
tanned possession when the former owners
due to the agricultural depression, were
unable to meet their interest obligations
and foreclosure became necessary says
a dispatch from Bloomington, Illinois.
With an aggregate of 10000 acres at
its disposition, the company realized that
to dump these holdings upon the market
for forced sale or to attempt to dispose Of
them by auction would seriously affect the
already unstable land market and perhaps
add to the existing depression. 1t decided
to operate the farms under the plan of
central control, with view to improving
the land and producing income that would
at least be equal to the interest upon the
money invested.
The company has selected Bloomington
for the headquarters Of the men in charge.
with eight suboffices scattered over three
States and with force Of Isalaried mana
gers, Inspectors. supervisors and farm la
borers. A large organization is now being
built up to till the land. fertilize it. study
the soil. apply the proper treatment, har-
vest and sell the crops. Live stock also
will be introduced. All operations will be
on a scientific basis.
Many of the farms are Of poor quality
and have deteriorated in recent years as
a result of the inability Of the owners to
obtain money for upkeep and to preserve
soil fertility. After careful study and
conferences with experts. the New York
company decided to improve the soil of
each of these 800 farms. Legumes will
play leading part in the process. Clover
is to be plowed under. and there will be
distribution of about 200 car loads Of
limestone year.
At the outset, the corn acreage will be
light, not to exceed 5000. Live stock is
TO be secondary in the upbuilding process.
The venture requires much new fencing
and the erection of suitable buildings in
which to shelter the animals. A crew of
seventy-five carpenters has been organized
to 60 from farm to farm, overhaul all fenc
ing make repairs to buildings, and erect
needed new structures. The sOil-testing
crew is composed of students Of Purdue
University.
Survey crews will report on the condi-
ditions Of fences. fields. drainage, improve
ments needed and other matters. As lime
stone is applied. nOtations will be made on
the soil map of each farm. AS clover is
grown and plowed under the maps will re-
cord the acres so treated. Yields of the
various crops will be recorded. This means
a vast amount Of bookkeeping at the cen
trail Office at Bloomington. Eighty tractors
have been purchased, each to serve group
of farms.
Agents of the company have been at
tending public farm sales in Central ILL.,
nois. purchasing 900 horses. 500 brood
sows and many hundred cows and sheep.
Suboffices have been opened at West Sa-
lem. Illinois Vincennes. RENSSELAER,. Win
amac, Wabash. Crothersville and Crawfords-
vile in Indiana. and at Defiance and Ken
ton. Ohio. These will control 800 expert
farm operators and seventy-ive area
workers.
The investment in new machinery so far
is about 100000 and the total expendi-
lures at the outset is about 50 100000.