JANUARY 1945 CIRCULAR No. 91 CONTENTS Page History of experiment -3 Early operations of the farm System of cropping Cotton Corn Vetch and crimson clover Oats for late fall and early winter grazing Improved pasture Hay crop Hog production Returns from operations Returns from 1988-40 production Returns from 1941-43 production Summary 5 7 7 9 10 10 11 12 12 14 15 15 17 Cotton-Hog Farming o Ih Sand Mountain R. C. CHRISTOPHER, Superintendent Sand Mountain Substation KENNETH B. ROY, AgriculturalEditor THIS IS A STORY about results and experiences from 6 years' operation of a 96-acre cotton-hog farm on the Sand Mountain. It is by no means a report of all success during a period of relatively high and low hog production and prices received, even though its average annual cash income was about double that of Alabama farms of the same acreage and for the same years. Rather, it is a recounting of the methods of running the farm, the system of cropping as it fits together in a year around operation, the crops grown, the cash income and cash outgo, and what is left. True, there were successes, but also there were some failures or near failures. There were dry spells that cut crop yields; there were crops that didn't "grow off" as well as expected; there were times when weather kept the hands out of the field and delayed planting and gathering at just the right time; and there were some losses of livestock. These were the same kinds of experiences as those of neighbor farmers. HISTORY OF EXPERIMENT With acreage limited under the cotton control program, there was need for a more complete farming system that would put idle and nonprofit acres to work producing additional cash income. Realizing this need the Alabama Agricultural Experiment Station in 1937 decided to buy a farm near its Sand Mountain Substation at Crossville on which it could study such a program actually in operation. On this farm would be brought together [3] a combination of crops and other enterprises that would fit into a system of operation, with a weather eye to be kept on costs and profits. Only those practices would be used on this farm that could be followed by all farmers of the region. Thus, no selected eggs, seed, or registered livestock were to be produced and sold. Here would be put into farm scale practice those things found most profitable on the Substation, such as crop rotations, varieties, kinds and amounts of fertilizers, and the like. The region is made up of small farms of relatively high priced land, with a high proportion in cultivation. Also, a large number of people live on these farms. The soils are easy to till and respond readily to fertilizer applications, but they are subject to severe erosion if not properly handled. With good treatment, they can be made to produce excellent yields of most of the crops grown in Alabama. For these reasons, it was quite clear that the future of cotton farming in the region under an acreage control program would have to be supplemented with hogs, poultry, or possibly dairy cattle. Because of the possibility of producing relatively high yields of corn in the area, and because hogs require less labor than other stock and only a moderate amount of pasture, hogs were selected as the livestock enterprise to be combined with cotton production on this farm. In the fall of 1937, a 96-acre farm adjoining the Substation was bought. Like most farms on Sand Mountain, it had been operated for many years as a cotton farm. Yields had been averaging around a bale of cotton to the acre. On the other hand, corn had been grown primarily for use on the- farm and very little for market either as grain or through livestock. Since it was not thought of as a cash crop, there was no profit motive for producing high yields, even though the land was capable of growing at least twice as much as the average 15-bushel yield of the farm. Similarly, no attention had been given to improving the 13 acres in pasture used for four mules, a cow, and a heifer. Although fenced the area had been allowed to grow up in briers and under-brush. [4] EARLY OPERATIONS OF THE FARM A tenant houIse and1 barn xrcbuilt. ()nlx a miunmumu amount of wvork stock and1 culipfment wvas 1)ought to start operation in 19:38. flhe first wxork don, wvas clearing, ditclhing. anid cleaning ump the farm. The unit also was terracedl comopletely , using the the time the farm xxvas umade readx for Nichols t\ pe, terrace. BYx operation, tie total capital ix cstment (land. buildings. fcm cing., machnery, xvork stoclk, andi other improx (loents ) amnounted to abotit 88.500. About 81 acres wxre planned for rowv and hav crops, 101 a cres we re fertilized anid seeed for hog pasture. The farm is operated entirely separate from the Substation. Siimple but complete recordis arc kept. 'These records inch (de ex erv expense item and exverx item of income, xxiti) more detailed recordls being kept on lix c stocl: groxx'n for sale. 1mn the pumrchmase of a farm, a banuk or some lend in g agcncv is mnvolvedi. In this case the Subl station nmade the pmuchase andl itlo secr d as the lending agent. xN the farm pav ing 6 per cent interest on the capital insi estn emt and nccssar mom tex to rinii it. Since the Substation adxvanced the xvloole anoi ii t of ab ou~t 88.500, it is realized that this 1 )articullar case is not a tx picl "mm II f1 4! fI , I Only necessary improvements were mode and a minimum amount of work stock was bought. A tenant house and barn were built, and the orignal house on the farm was reconditioned. i w mW d farm loan. No lending agency can make sound loans where 100 per cent of the capital investment is advanced. However, there are many farmers in the region owning all or a large part of their farms who could obtain loans to establish a system of operation such as reported in this publication. It was assumed that a farmer with two boys and a girl old enough to work could operate this size farm. To approach this as nearly as possible, two married men were hired to work on the farm under the management of the Substation. The wives and children of these two men, however, were not responsible to the Substation. Any work they did was paid as direct labor expenses. Assuming that good farming includes provision of housing and electricity, and production of all possible food, the families of the two men are furnished houses and lights (up to 20 kilowatt-hours per month), 3 dozen eggs each per week, vegetables and potatoes, milk, fruit, chickens, and one large meat hog per family per year. The families provide the labor to work a part of the garden and truck patch. Production under the AAA program was continued when the farm was purchased, in order that cotton acreage would be on the same percentage-allotment basis as that of other farms in the region. Sufficient acreage was planted to produce all hay needed for the team of mules and two milk cows. The remaining acreage was planted to corn. In the beginning only enough hay was bought to supply needs until a crop of spring oats could be harvested. In April, 1938, 37 weanling pigs and three shoats were bought. The following July, three bred gilts were added, and late in the year a purebred boar was purchased. Care was taken to buy cholera-free hogs. As a further precaution, these- pigs were isolated on the farm for 21 days. The gilts were bought from a local farm on which there had been no cholera. The first boar and subsequent boars bought were double-vaccinated and isolated for a reasonable period. Such precautions are very important, because, if a farm once becomes infested with cholera germs, vaccination is a necessary annual expense item, at least for several years. [6] SYSTEM OF CROPPING The system of crop production other than cotton has been aimed at growing as much feed as is economically possible. All corn produced other than that needed for the two mules, two milk cows, and a small flock of chickens is converted into a cash crop through hogs for market. On the average, the main crop acreages are 17-3/10 in cotton, 52 in corn, 6 in soybeans for hay, 3-3/10 in lespedeza sericea, and 101/ in improved hog pasture. Two rotations have been used. One involves a 2-year rotation of 17 acres each of cotton and corn, with vetch following the cotton as a soil-improving crop. The other is continuous cropping year after year of the remaining corn acreage (35 acres), with about a third of this acreage being planted to vetch and to crimson clover. In other words, these 35 acres in corn have a winter cover crop every third year. Available manure is applied each year to 4 or 5 of the poorest acres planted continuously to corn. Although the 3-3/10 acres of lespedeza sericea were planted on a well prepared and heavily fertilized seedbed, results were very disappointing. The area is very poor land, a part of which was badly eroded and the remainder was infested with Bermuda grass. Many farmers make the same mistake of planting this crop on such soil. The purpose of seeding the sericea was to establish a perennial hay crop, which can be produced much cheaper than an annual row-crop hay because yearly seed, land preparation, and cultivation costs are eliminated. Cotton The Stoneville 5 variety, one of the leading cottons on the Sand Mountain, has been grown on this farm. Eight hundred pounds per acre of 6-8-4 fertilizer are applied about mid-April, and the cotton is planted 2 weeks later. In the first 3 years of operation, 1938-40, the 17-3/10 acres of cotton, which were in a 2-year rotation with vetch and corn, averaged 564 pounds of lint per acre. The average yield in the 17] Under Station operation practically all of the 96 acres are put to work. This plat shows the acreages of 1943, which are as follows: corn 52.0; cotton 17.3; (soybean) 6.0; lespedeza sericea crimson clover 2.4; improved pasture truck and garden 1.1; woods 0.3; wet (laid out) 1.0; house, barn, and roads hay 3.3; 9.4; land 3.2. CORN I I COTTON /, TRUCK d / / ( T _j0 'CRIMSN LiVERi HAYHAY [8] 1941-4:3 period increased to 648 pouds, or a gain of 15 per cent in lint per acre. The axverage annual lint yield for the 6 xyears xxas 606 pounds per acrc. The ax erage annual production of lint cotton from the 173 10 acres during the 1938-43 period was about 21 b)ales of 500 pounds each. The net cash returns to regular labor for lint, seed, and AA A payment averaged 81,507.23 p er y ear for the period. This is the amount of return after costs hae been deductedl for seed, extra hired laIor for hoeing and picking, fertilize-, ginning and weighing, Cotton has been grown under the A A A program with an allotment of 17-3 10 acres. and enough cottonseed meal kept for farm use. The axverage AAA pax ment xx as 8243.17 per year for the period. The price receixved during that time rangedl from 9.00 to 20.20 cents per pound, and axveraged 14.16 cents. Corn The 17-3 1) acres of corn in the cotton-xvetch-corn rotatioln reccixves no fertilizer except in the ecars xhen poor x etch grox« th occurs. In such x ears sufficient nitrate is used as a side-dressing to slipplx the corn at least 36 pounds of nitrogen per acre. All of the continuous corn (35 acres) is fertilized at planting time xwith 100 to 200 pounds per acre of 410-7. Those acres in crimson corn xear after xear that do not follow xvetch or grazedl cloxver receixve 200 to 250 pounds per acre of nitrate of soda as a sidie-dressing 30 to 40 day s after the corn is planted. The axverage annual xyield in the 1938-40 period xas 27 bushels 1 3 y ears. per acre as compared to 34 bushels in the sncceeding This is a 27 per cent increase in production. The axerage for the ;" "mereix 6yar period wxas :301 bushels. or ab~out doulel the yijeldi forob)tained. The Indian Chief v arietx of corn is used. Vetch and Crimson Clover AI N th-corn rotation and ab~out 4 planted to hairy v etch betweecn I Al )? and September 1. Auus Depending upon moisture and av ailalble lab~or, :3 to 6 acres of crimson cloxver are planted in late~ Auigtst or earl- September oi obahastblorn early corn that is cut and shocked off. Before planting 300 to 400 pounds per acre of an 0-1410 fertilizer arc applied and worked into the soil for the clov er. In the case of v etch, the fertilizer is drilled at the same rate per acre. The crimson clov er is used for winter and early lby spring~ grazing110 hogs. The acreages of x etch and grazed crimsncloxver are plowed undler in the spring and followed by corn. The bulk of the corn from 52 acres is converted into a cash crop through market hogs. Oats for Late Fall and Early Winter Grazing About 2 of the 6 acres in soybe~ans are seeded to the Fulgrain xariety of oats b)etwxeen August 15 and September 1. The soyb~eans are either grazedl off or cut for hax_ in time for seeding the oats, which are p~lanted at the rate of 212bushels per acre. A 4-10-7 fertilizer is used at the rate of 200) pound~s per acre at planting time. As soon as the oats are lipl to a good stand, they are top-dressed wxith 100 p~ollds of nitrate of soda per acre. The oats are used for grazing hogs principally b~efore the crimson cloxver is ready for pasturing, wh ich is around january 15 under faxvorab~le fall moisture condlitions. [ 101 Improved Pasture Hogs prefer clover to all other pasture plants. On this lar1m1 white clov er has prov ed to be the best pasture plant on good, moist land for spring, summer, and early fall grazing. If land of low fertilitv is to be used for pasture, common lespedeza can be planted to build up soil productixvity b~efore seeding the white clov er. After 6 \ ears' experience in lev eloping anl managing improv ed pastres for hogs on this farm, it is believ ed that white clover pasture must b~e rotated with corn evxery third or fourth vear, in order to rise the high amount of nitrogen built up in the soil by the cloxver. Hogs will graze white clov er closely b~efore they will consume mich grass. Even xhere grazing is controlle, the native grasses, greatly stimulated by the nitrogen added In the clover, wxill "take" the pasture in a few xyears. To extend the use of such a pasture by prev enting dlamage to the white cloxver, the hogs are moved to other permanent pasture or to temporary grazing when the clox er plants are grazed dowvn to about 2 inches in height. \lso). the practice otf rimiui the pigs at weaning time is followed to reduce damage. r 1 C ' Land to be planted to imiproved pasture is thoroughly prepared. Before planting the first pasture on this farm, 2,000 pounds of basic slag per acre vere applied and worked into the soil. After the third vear, it was found necessarx to make annual applications of 200 lounds of superphosphate and 100 pounds of muriate of potash per acre in December or Jamiiarv. Excellent stands of white clover have been obtained from a Improved posture of white clover provides spring, summer, and early fall grazing. [111I seeding rate of 8 pounds per acre. Thorough soil preparation appears to be the most important practice in establishing a good improved pasture of white clover. Poor seedbed preparation cannot be offset by high rates of seeding. Hay Crop Six acres of Otootan soybeans are used as a hay or grazing crop, depending upon immediate needs. It is either grazed off or cut in time to seed 4 of the acres to crimson clover and 2 acres to oats between August 15 and September 1. From 800 to 400 pounds per acre of an 0-14-10 fertilizer are applied at planting time. With the more recent discovery by the Substation that successful alfalfa production on the Sand Mountain is dependent on the use of boron, relatively heavy applications of potash, and certain methods of seedbed preparation, this acreage is being shifted to alfalfa to furnish temporary grazing for the hogs and to furnish hay. This shift is being made in order to reduce the labor load and to cut the annual costs of seeding, land preparation, and cultivation of soybeans for hay. Hog Production The farm did not buy into the hog business. Other than the 87 weanling pigs bought to market the first year's corn crop, only foundation stock was purchased.. Corn yields had to be improved before an extensive hog business could be established on the farm: During the 6-year period, an average of about 70 hogs, or a little over 15,000 pounds, was marketed per year. A total of 28,132 pounds of hogs (live weight) was sold in the first 8 years, 1938-40,-whereas, sales amounted to 62,811 pounds in the last 3 years, 1941-48, or an increase of 121 per cent. However, the corn andhog production of the earlier period was greater than the actual sales of market animals would indicate. Supplies of corn and feeder pigs were being accumulated for reserves which are necessary in good farm management. These supplies at the close of the first 8 years, 1940, consisted of 86 market pigs and shoats, and 1,055 bushels of corn. This is [12] wxhat the farm produced in the 1935-40) period in addition to the 28.1,'2 pounds of bogs marketed. Had these reserv es been conx efte( to finished animals. there wyould ha\ c been ab~out 20,000 add(itional poun ds to market in the first 3-ear period. Simrilarly, the farm had on hand at the elose of the last xear, 1941 -43 period, totals of 105 feeder shoats and fall pigrs and 7.50 bushels of eorn. ile hoigs an d market pigs are run on the imoprox ed NN lute clo-4 . er pasture and temporarx graz-* ill" rc'eei i ab~out one to one 4 wt half ears of eorn a dax 9 to 10 months of age, the nrr ket pigs d opi t on p are tIit full feed a a ("o o n ndl-1 ada pplement. Th ey are marketed:' wh len about I x ear* old. The time of finishing the hogs Nine to 10 month-old pigs are in the fall is deipendent uipon put on full feed and ''topped the time of liarx (stm"g the eon out'' on corn and supplement. crop and the start of eoo1 ,weathier. The hogs for spring market are finished xx hen the winter weather begins to moderate, b~ut before the start of earl, spring wyork on the farmn. It xxas observ ed that during either extremely cold or hot xxeather market pigs made less rapid gains. The pigs wxeighi about 95 to 100 pomuds wyhen punt ont the finishing ration of corn and supplement, and they' are fed to a xxeiglit of 22T5 to 250) pounds. Market pigs grown on imoprox ed wh ite clox er pasture and temnporary gzrazintg phis a little corn are in a thriftx condition and~ hiave dleveloped sufficient bone and muscle to make fast gains. U~nder this plan pigs madle dailN gains of 2 to 2i1 poidt~s on the finishing ration of corn and supplement. After deducetion of 8129.14 ( 6-year axverage ) for su pplement plus the expenuses of hauling to market, y ardage, instrau tee sales comission. thtc hogs gaxve an axverage retunrn of 81.391.91 per xN(ar for the home-produced corn. improx ('(pasture. aund temporarx grazing. Hog p~rices during the period ranged from 85.29 to 813.67 per hundred pounds lixve xxeiglht, and axveraged 88.94. su [ 13 1 RETURNS FROM OPERATIONS The 6-year period of operation of the 96-acre farm covers 3 years each of relatively low and high hog production and prices received. Given here are the average annual earnings of the farm, 1938-43, and what they would mean to a farmer operating the farm on such a system of cotton and hog production. CASH RECEIPTS FROM PRODUCTION Total average cash receipts from the sales of cotton, seed, $3,472.11 hogs, and miscellaneous items (AAA payment included) Increase in amount of crops and livestock on hand + 440.26 Total sales and increases COST ITEMS Money to run on Interest on money to run on (6 Interest on total money invested Depreciation on buildings, tools, milk cows, and fences (6 per Taxes and insurance Total of all cost items $3,912.37 per cent) (6 per cent) work stock, cent) - $2,042.92 Net returns including cash and increase in amount of crops $1,869.45 and livestock on hand FOOD SUPPLIED BY FARM Value of meat, eggs, milk, fruits, and vegetables supplied by farm + 339.05 PAY FOR YEAR'S LABOR Net returns, plus increase in amount of crops and livestock, $2,208.50 and food supplied by the farm The average return and increase in supplies amounted to $1,869.45 per year in the 6 years' operations. This is what a farmer using this system would have after paying all cash expenses, pendix money himself including average total interest charges of $632.92 (ApTable 2). However, if he owned the farm and had the to run on, he could have paid the 6 per cent interest to instead of to the bank, and had an annual return of $2,502.37. [14] Returns from 1938-40 Production In dealing with averages for such a period of wide extremes, the net returns from the farm in the 1938-40 period are hidden. This was a time when hog prices ranged from 51/4 to 7 cents a pound and cotton was 9 cents. The farm's average annual total cash receipts for this period was $1,798.70. In addition, the average increase in farm-produced supplies of feed, seed, and livestock amounted to $551.84 per year, valued at current local prices. Thus, the total worth of the farm's sales and increases amounted to $2,350.54 per year in the period. Average total expenses amounted to $1,780.73, leaving a net return of $569.81 per year in the 1938-40 period. (See Appendix Table 1.) After paying all bills and allowing for depreciation of buildings, tools, and the like, there was little cash left, $53.92, at the close of the 3 years. However, the farm did pay average annual interest charges of $601.53, and did provide meat, eggs, milk, fruit, and vegetables for the family valued at $305.76 per year. Also, in these beginning years the new system of operation was being established and supplies of feed, seed, and livestock were being accumulated, which totaled $1,655.51 (based on current local prices) for the 3 years. The low income in this period was similar to that experienced by other farmers. It was a time when meeting bills and paying interest charges were a struggle. In part, this explains why farms are lost and why farms are seldom bought and paid for in times of 6-cent hogs and 9-cent cotton. Returns from 1941-43 Production In the last 3 years of operation, 1941-43, the farm's hog sales were 121 per cent higher than the 3 earlier years, and cotton production was 15 per cent higher. Farm prices were relatively high, with hogs ranging from 9 to 132/3 cents, and cotton from 171/4 to 201/4 cents a pound. The farm's average total annual cash receipts during this period amounted to $5,145.52. Based on local prices, the average annual increase of the supply of feed, seed, and livestock pro[15] duced amounted to $328.68 per year. The average total annual worth of the farm's sales and increases was $5,474.20. After paying all bills, interest charges, and allowing for depreciation, the average net returns for the year's work was $3,169.08. In addition, the farm supplied an average of $372.84 per year in food during this period. (See Appendix Table 2.) Dealing only with total cash receipts and total cash expenses (leaving out the $1,655.51 value of increase in supplies of feed, seed, and livestock and the $917.28 value for food furnished by the farm), the farm had a total cash balance of only $53.92 at the end of the first 3 years, during which time the amount of hogs marketed, production, and prices were low as compared with 1941-43 period. On the other hand, in the later 3-year period of higher production, larger volume of marketing, and higher prices, the cash balance amounted to $8,521.20. The large difference between the two cash balances is the combined result of increased'hog and cotton production, greater number of market hogs finished and sold, and rise in farm prices. As stated earlier in this publication, the former owner obtained relatively high cotton yields, but this was about the extent of his cash crop business. While the farm under Station management was able to increase cotton yields only 15 per cent, the production of corn, pasture, and temporary grazing reached such a volume that 62,311 pounds of hogs (live weight) were finished and marketed in the 1941-43 period. The average price received for cotton in the 1938-40 period was 9.25 cents per pound, and for hogs $6.08 per hundred. In the 1941-43 period, the average prices were 19.06 cents for cotton and $11.80 for hogs. The $8,521.20 cash balance represents what a farmer might have netted from operating such a farm under such a system. However, out of this total balance would have to come family cash expenses for clothing, education, doctor's services, medicine, and the like during the period of the farm's operations. Nevertheless, if the farmer had had a debt of $5,000 against the farm, he might have paid off the entire indebtedness in the last 3-year period without handicapping his family. He would then be in a [16] position to weather seasons of lower yields and production, and periods of lower prices. These results show the importance of rapid debt retirement when times are good and when farm incomes are relatively high. Also, they show that it is unwisefor the farmer in such times to continue to maintain a long-term loan when he could pay the debt in a few years and relieve himself of interest costs, which remain about the same year after year regardless of farm prices. In the case of this farm, annual interest charges averaged $632.92 per year, or a total interest payment of $3,797.52 during the 6 years. Thus, it is wise to eliminate such expense in times of higher farm prices in order to be prepared for the time when farm receipts again may be low. SUMMARY A 96-acre farm was established by the Alabama Agricultural Experiment Station near its Sand Mountain Substation at Crossville in 1938 to put into practice a complete system of operation that would supplement cotton income with some form of livestock. Like neighboring farms, it has been operated under the cotton acreage control program. Practices found profitable by the Substation have been applied. However, only those practices that all farmers of the region could follow have been used. Hogs were selected as the livestock enterprise to combine with cotton in the operations of the farm, because of the possibility of producing relatively high yields of corn and because hogs require only moderate amounts of pasture. All corn other than that used for two mules, two cows, and a small flock of chickens has been converted to cash through hogs. The average net returns including increases in supplies of crops and livestock on hand for the 6-year period amounted to $1,869.45 per year. With acreage of cotton controlled, the net income of the farm was practically double that had only cotton been grown under the same AAA program. The average net return including the increases in supplies of [17] feed, seed, and livestock on hand for the first 8 years, 1988-40, was $569.81, whereas it amounted to $3,169.08 in the 1941-43 period. These net amounts do not include the average value per year of the food supplied by the farm, which amounted to $305.76 in the earlier period and $372.84 in the last 3 years. In the 1938-40 period, when production and prices received were relatively low and supplies of feed, seed, and livestock were being accumulated, the farm marketed 29,286 pounds of lint cotton and 28,132 pounds of hogs (live weight), and had a net cash balance of $53.92 at the end of 3 year's operations. On the other hand, in the 1941-43 period of higher production, larger volume of sales, and higher prices received, 33,619 pounds of lint and 62,311 pounds of hogs (live weight) were sold. At the close of the latter 3-year period, the farm had a net cash balance of $8,521.20. Thus, the combination of increased sales of cotton (15 per cent) and hogs (121 per cent), made possible by increased production, and the rise in farm prices was responsible for the wide difference between the cash balances of the two periods. The average price received for cotton in the 1938-40 period was 9.25 cents per pound and for hogs $6.08 per hundred. In the 1941-43 period, the average prices were 19.06 cents for cotton and $11.80 for hogs. If a farmer had operated the farm under such a system, he would have had to deduct from the net cash balance of $8,521.20 the total family expenses, such as clothing, education, doctor's services, and medicine. However, even with an assumed debt of $5,000 against the farm, he could have paid off the whole indebtedness in the 1941-43 period of operation without handicapping his family. Average production in the 6-year period was 21 bales of cotton and about 70 top hogs, totaling a little more than 15,000 pounds of live weight per year. Profitable hog production on this farm has been dependent largely upon the large amounts of feed and grazing produced. [181 Appendix Table 1.-Summary of 1938-40 Business of 96-Acre Cotton-Hog Item CASH RECEIPTS Cotton and seedHogs AAA payment -- ----Misc. (Eggs, poultry, etc.) Total LIVESTOCK AND CROPS ON HAND Increase over previous year Total sales and increases EXPENSES Fertilizer Feed and suppliesExtra labor ----------Interest on capital investment, 6% Interest on operating capital, 6%Interest on one-half inventory of _ crops and livestock, Depreciation on buildings and tools__-_.-_ 43 6.20 2 19.5 0 139.02 509.37 75.15 33.20 177.40 70.70 54.50 352.825 $2,067.86 1938 Farm, Sand Mountain Substation, Crossville, 1939 1940 Alabama 1938-40 average -- 10,2011 6,2401 $ 908.70 443.04 204.34 16.32 $1,572.40 10,0591 13,3461 940.38 732.74 311.22 87.61 $2,07 1.95 $ 40.93 $2,112.88 9,0261 8,5461 883.39 512.69 308.42 47.26 $1,751.76 $ 507.88 $2,259.64 9,7621 9,3771 910.82 562.82 274.66 50.40 $1,798.70 551.84 $2,350.54 $ 1, 10 6.7 $2,679.10 416.81 111.04 149.22 509.61 54.26 33.20 180.08 77.82 85.72 $1,617.76 - 500.53 99.51 114.88 502.76 52.59 34.43 170.95 77.82 103.10 $1,656.57 $1,656.57 451.18 143.35 134.37 507.25 60.67 33.61 176.14 75.45 18.16 180.55 $1,780.73 6% Taxes P lanting and M iscellaneous ------------------------T o tal - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - NET WORTH OF SALES AND INCREASES (Net cash return plus increase in amount of livestock and crops on hand)________.__ FOOD SUPPLIED BY FARM (Value of meat, milk, eggs, fruit and vegetables)---------- insurance seed -------4 ------------------------------------ $2,067.86 $1,617.76 $1,780.73 611.24 339.05 495.12 28 0.3 3 $ 775.45 603.07 297.90 569.81 305.76 $ 875.57 PAY FOR. YEAR'S WORK. (Net worth plus ___ food supplied by farm) $ 950.29 $ 900.97 'Pounds of lint and pounds of hogs (live weight) produced and sold. 'Total supplies on hand of livestock, seed, and feed produced the first year; in succeeding years this amount is the increase of these supplies over the previous year. 3 Winter cover crop seed are charged as a fertilizer expense rather than as planting seed. 4 This item includes repairs and miscellaneous purchases, charges for improved pasture and lespedeza sericea area, and pasture improvements. 5 lncludes purchase of hogs bought to feed first year's crops. Appendix Table 2.-Summary of 1941-43 Business of 96-Acre Cotton-Hog Item CASH RECEIPTS Cotton and seed Hogs AAA payment Misc. (Eggs, poultry, etc.) Total LIVESTOCK AND CROPS ON HAND Increase.over previous year Total sales and increases 1941 1942 Farm, Sand Mountain Substation, Crossville, 1943 1941-43 average Alabama 6-year average 12,752' $2,442.28 20,231' 1,818.96 172.73 84.34 $4,518.31 11,450'1$2,519.34 21,770' 2,806.12 297.91 146.32 $5,769.69 9,417' $2,041.39 20,310' 2,812.77 164.39 130.02 $5,148.57 11,2061 $2,334.34 20,770' 2,479.28 211.68 120.22 $5,145.52 10,484' $1,622.58 15,074' 1,521.05 243.17 85.31 $3,472.11 524.57 $5,042.88 499.37 $6,269.06 -37.89 $5,110.68 328.68 $5,474.20 440.26 $3,912.37 EXPENSES Fertilizer - - - - - - - 506.322 208.98 Feed and supplies Extra labor-295.34 -Interest on capital investment, 6 % 510.73 Interest on operating capital, 6 % 71.74 Interest on one-half inventory of crops and livestock, 6 % 49.66 Depreciation on buildings and tools 178.92 Taxes and insurance 77.82 ------------Planting seed 15.50 ------------------3 Miscellaneous -----------------104.30 T o tal - - - ---- - - - - - - - - - - - - - - - - - - - $2,019.31 $2,019.31 NET WORTH OF SALES AND INCREASES (Net cash return plus increase in amount of livestock and crops on hand) ----------- 661.54 237.36 370.29 512.31 88.43 65.40 175.27 77.82 14.06 125.06 $2,327.54 $2,327.54 692.69 288.62 346.62 512.31 102.00 80.38 172.67 77.82 295.41 $2,568.52 $2,568.52 620.18 244.99 337.42 511.78 87.39 65.15 175.62 77.82" 9.85 174.92 $2,305.12 $2,305.12 535.68 194.17 235.90 509.51 74.03 49.38 175.88 76.63 14.01 177.73 $2,042.92 $2,042.92 3,023.57 3,94 1.52 2,542.16 3,169.08 1,869.45 FOOD SUPPLIED BY FARM (Value of meat, milk, eggs, fruit and vegetables) -----------------PAY FOR YEAR'S WORK (Net worth plus food supplied by farm) - --- 295.08 $3,318.65 326.15 $4,267.67 495.80 $3,037.96 372.34 339.05 $2,208.50 $3,541.42 'Pounds of lint and pounds of hogs (live weight) produced and sold. 2Winter cover crop seed are charged as fertilizer expense rather than as planting seed. 3This item inicludes repairs and miscellaneous purchases, charges for improved pasture and lespedeza sericea area, and pasture improvements.