The Nonpartisan Leader Newspaper, May 17, 1920, Page 12

A GALLOWAY ENGINE -or the Hired Man ;N —~— Figu A fow years ago it was possible to hire com. You can’t afford to have your high priced hired petent farm help for 33(])1 or $35 a month, It hel, doinfy fi%fiefi%‘?fiéfi jobs :::? :hzeffmd m’ f,’,‘f&”d? :o 3%5:‘;:%:’ ‘:“’ b“,‘. afford to have your hired man milking th or plowing the corn but youn are Today your hired man is costing you from $150 whgnhe ispumpingwater b’yhnn :]o 8160i ta montth. Take llt’.eng“il and p.po,:“ mi% running the sheller and doing of gure it out for yourself. Figure up wi Let a Galloway farm engine do them. Rele: costs you to board and room him, to do hiswash- your hel !orworkthati:flgreimpomnt—m::g ings and other things, to say nothing of the &mducfigl. You’ll eave big money in a year’s wages you are paying him. me. The engine will more than pay foritself, Direct from Factory— Easy Payments Shipped direct from the facto Galloway's factory to £ 1 The ing ‘g.p: into your own I;}m:kmat.. ? mhnve f&o‘;‘é.“ flngm%::nmg Lo ou your lans— cash, bank deposit, half cash-half note, full note, or installment. Bcfiot the plan which suits you best. H Get Galloway's great engine book. See for yourself wr ] te TOday how Galloway en‘:inoa sofze the labor pmbleu’l on the farm. There is a size for every farm need. Shgzped complete and ready to run from nearby points. Saves you money on freight. Write for low prices on all engine sizes and descriptive literature. WILLIAM GALLOWAY, President - THE WILLIAM GALLOWAY COMPANY 505 Galloway Station WATERLOO, IOWA BALE HAY NEW WA No Bale Ties—No Feed Table **Two men baled 20 tons in 7 hours’’ says - aser. Save 40% on baling cost. New Uni- versal self throading hay press bales faster and cleaner. Save on wire— men. Uses 6 h. ‘The farmer’s old reliable treat- ment for Lump Jaw in Fleming’s Actinoform So!dd for 32.6}& (wmm'n bo:gls% under a positive gince —your money refunded if it fails. Write todn}l for FLEMING'S VEST-POCKET VETERINARY ADVISER A book of 197 pages and 67 Ulustrations. It is FREE, FLEMMG BRES., Chemists, 336Unian Steck Yards, Chicago . to » ] 8. withoat engine. Stm;zenprn;forits;eiwgtcb{xllzlém Stait i rite T RE AR telling all about this w'::de‘r’!n)mflu Press and how to fmm;- [ s WILLIAM A. SEYMOUR. PRESIDENT Threader Press Go., 1303 Vtiawa SL., Leavenworth, Kansas B-LL Jaw< Big Base Ball Outfit T Do Low Prices Mean Cheap Land? Value in Last Analysis Depends Entirely Upon Probable ; Earnings BY A. B. GILBERT NE would not be far wrong in declaring that there is no such thing as cheap farm land in the United States. It may vary from $400 an acre or more in certain parts of Illinois or Iowa to $10 an acre in New England, the mountains of Kentucky, or the dry regions of the Rocky Mountain states. But cheapness is always relative. The $10 land may be harder to make a return on than the $400 land, and thus be the more expensive of the two. Farm land value, like the value of all land, is based on prospective re- turns. It is what the financiers eall capitalized earning power. Thus if the land makes $5 an acre clear after all operating expenses are paid, and if the interest rate which generally satisfies is 5 per cent, the land should be worth $100 an acre. If it clears $10 a year it should be worth $200. And if it clears $15 it should be worth $300. ; Except under wunusual circum- stances landowners nowhere sell for less than earning power warrants. They naturally want all they can get —the amount warranted by earning power plus as much more as they can argue the prospective buyer into pay- ing. They generally set what is known as a speculative price on their land, so high that’ the actual earnings will not yield more than 2 to 8 per cent on this capitalized value or price for years to come. The farmer who is in the market for land, therefore, should look cautiously at sales of cheap land. Unless his own community has been bitten by a special speculative bug he is likely to find land just as cheap right where he ree Fielder’s Gloves, Masks and Base Balls For Every Boy ‘ Can Yon Fill in the Missing Letters Above and Complete the Two Words? I am sure you cam do this if you try. Just write Uncle Joe and tell him what the two words are and he will immediately send you his big iree offer. The Mitts and Gloves are well padded, leather covered palms amd very dur- able. The mask is made of heavy wire fitted with chin and forehead protecter. The ball is regulation size and weight and covered with horsehide. Be sure and write Unole Joe Quickly for he has already gvcn eway hundreds of outfits and base ball goods are very scarce this year. nd “your meme and address plainly writien, a postcard will 40 Address is as anywhere else in the Union. The principle of the economists that “land absorbs community values” has direct application here. Labor and capital employed on the land get the returns dictated by general condi- tions and land acquires whatever sur- plus there is. On the other hand, if the combined income of capital, labor and land falls off on a certain piece of land or section, the land value will fall until the labor and capital can make about the same returns on it as elsewhere. Therefore if land is low in price we are generally right in as- suming that if it were any higher the user could not profitably employ labor and capital on it. Nearly every social factor has a direct effect on land value. The growth of population adds to land value rather than te the returns of labor and capital, because land is lim- ited in amount while labor is increas- ing in productive power and capital is increasing in amount. The near- ness of railroads and markets, the raising or lowering of freight rates and market prices, the conditions of the roads for hauling, climatic condi- tions which make for certainty or un- certainty of crops, the amount of taxes, terms for farm credits, the ex- tent of neighborhood development— all such things are reflected in the farm land values. In a number of parts of the Union farming has undoubtedly been extend- ed into regions beyond normal limits under present methods because of the lure of “cheap” land. This land has not proved to be cheap because the op- erators can not make a bare living on it, not to mention paying interest on investment because of unfavorable conditions. Farm land values as we find them in different states and sections of states thus roughly gauge the relative production costs. If the land values are high, a low cost is indicated. If they are low, a high cost of producing and getting the produce to the cen- tral market ean be expected. And un- less the farmer can take improved methods of operation that cut capital and labor cost to the new land, he is likely to lose if he pays more than has been regarded as a fair price in the new locality. PRICE FIXING Editor Nonpartisan Leader: T will ask a little space to give my views on the government guaranteed price on wheat. I believe if we ever needed a fixed price on all farm produce we need it now for the 1920 crop, for this crop will be put in with the highest- priced seed, feed, labor and machinery that ever have been known to the American people. And if the govern- ment steps out from under the market and leaves it in the hands of the grain gamblers they will not pay $2 a bushel for wheat. Many farmers in this part of the country have gone in debt the last three years on account of dry weather, and if the price of farm products is not kept out of the hands of the gam- blers and politicians they never will get out of debt. I would Like to see ‘a price fixed on all farm products which the grain dealers could not go below. This will not hinder any farm- er from getting a higher price than the fixed price if the market demands it, but it will give us a priee by which we can raise a crop without going farther in debt. WESLEY WHITE. Des Lacs, N. D. : > ¥ ) Ll Y e T 1 4 + S £ =, ! < ] 4 A . a < Pmscienis, v 14 ' .#,’-