THB HEBMISTOH HXBAXD, HERMISTON. OREGON. WHAT FARM ACCOUNTING MEANT IN THE MANAGEMENT OF A FARM Successful Fanner Tells How Pencil Helped Guide His Operations and Swell His Income— An Aid to Better Credit— Shows Profits and Prevents Losses. ''HE owner and operator of one of the most successful dairy farms in Wisconsin prepared recently for the Agricultural Commission of the American Bankers Association a first hand statement of the part farm accounting has played in the management of his enterprise. This operator, W. J. Dougan, tells the following story: “When I started farming I began keeping a simple cash account, butysoon found that it was not sufficient accounting for farm purpose.. Such a record did not take Into consideration the vital fac­ tors of Improvements, growth of live­ stock or depreciation. "Since 1910 I have kept a complete account on the accrual basis. The accounts, however, are no more than any farmer can easily keep. The out­ standing benefits from keeping such accounts might be listed as follows: The Way It Works "1. Incom, tax reports mads easier. —Accurate and dependable Income tax reports can be made from the yearly accounts. By keeping them on file I am always ready to satisfy the tax Inspectors. “2. Accounting makes possible a budget system.—With the accumulat­ ed data of the past years, I can make out the budget for the coming year. The Income being fairly stable, the budget problem Is to adjust the ex­ penditures. If one branch of the busi­ ness will need extraordinary expendi­ ture such as new machinery, there must he a cut in some other branch, such as building or livestock pur­ chased, or fencing. ”3. Accounting gives a true basis for credit.—Especially has accounting meant for me larger credit and tiappy relations wilb my banker. With a complets financial statement before him the banker can Intelligently deter­ mine what credit I should have. With a full knowledge of the farm profits In the past. I know what credit I should accept No farmer or business man should accept credit from his bank unless he Is able to put the money into productive Investment, and his margin of profit assures the ability to repay the loan within a reasonable time. “For the farm this reasonable time cannot be three or six months. The farm turnover Is too slew for that. A helpful and Just period of farm credit for working capital must be from one to four years. "There Is another benefit from ac­ counting—the benefit of knowing whether one Is going up or down. By extra sales one might be flush of money and buy heavily, thinking be is coming out ahead, but In reality he Is sacrificing the future. On the other hand, one might feel pinched, and have little money to spend, but ln reality he is laying up capital.” The bankers Agricultural Commis­ sion has suggested the following form of farm credit statement. Indicating the records necessary to be kept: SUGGESTED FARM C REDIT STATEM ENT (Adapted from blank used by F ederal Reserve Bank, Chicago) One O f The First Important Factors In Farm Accounting Nam e Address Business Date of Statement Aea^e LiabilUias Ï C a m on H am » u ts m B a k r . O wr tor F ollowing B ank »: U m » 9 yatbs 8« cvmitim .. O m « S alable 8ecu »rw ea.. A ccount » D u b M r ................... C rain , F r r m ano F arm P hoovcts . ..................... flVRMtsn» in S cordi lb B elow ) L n '» stock (Im u s e s in B crrdvlr B blow ) . . . . S bcurrd s y .................................. N otba F atarli to R blativca ......... L oan * D or M b , O n b Y bar or L r m M atumty . O thrr Q uick N otra P atabls to Ornen»................. .......... S bovrbb b y ................................................... A ccount » P ayablr ................................................ ÎNTBRBST ANO T a XRS D v t WlTMIN O n b Y ba I C a m R ent D ob o n .............................................. To tal Quteh Aaeeta................................... T o ls i C u rren t D e b ilit i» F a w I u f u m s m t v am » T ools ................................. R bal E stât * M ortoaocs (F irst ). . i, B alsrs , T ractors , F a m L am » (I tcmubd m B o s o n s B olow ) ........ (iMrwwam V alow at 9».,... C lT T A M Tow» PnorORTV................ s e e s . . . . . R bal E s t a t i M ortoaom (J onmm O ., Q triiit — w fesw n s Beur»). M ootoaors or L oan « D ob A m a O m T rai ». . . . I Q t m u m F olly ) T o tal L ia b ilH i» . Dairy Bulb ft,., Beef Bulla M ilk C»«s M u l» !.. ..H b f e r » Colta » .. .. C s h » ...B M f C r a s a .... . Brood So*» I . . . Steer» Pit» • ... Feeder« StoekHoc» !.. .. Etres » ... . .. Bu. Osla ... B» W b«( G ........... . G............... SCHEDULE O F REAL ESTATE T itb m Neme e l Improved or Ne of A ct » Vmmprovad er Lots Intere«» nfl Preemt Velue M ortgage« Mor» ( i Due ..........J L* C ask f » Acra J’ 0 O f Ceo» frr Y bar - ........ » . .............. B etter Y et Two boys were discussing sport “tlow high can you Jump?" asked one. “About four feet,” replied the other. “What can you do?" “Five feet.” came the prompt reply "How about the long Jump?" “Ten feet. What can you do?" "Eleven feet. What’s yonr time for the hundred?” But the other lad was a bit sus picious by now, so he replied: "Four seconds better than yours.” Another W ay to Do It A minister preaching his Sunday morning sermon was aw are that a large number of bis congregation were not listening to his talk. During this hour the ja n ito r step|>ed to the plutform and said, “Dr. Van Cleve, the church Is on fire.” The minister deliberately closed his Bible, saying. “ Very well, W illiam , thank you. Perhaps you can wake up the congregation." NOTICE OF SHERIFF’S SALE UNDER EXECUTION are still in active service FOR nearly twenty years, the Model T Ford led the motor industry and it still is used by more people than any other automobile. More than eight million Model T Fords are in active service today— an indication of their sturdy worth, reliability and economy. Because of the tremendous investment which people have in these cars and because so many of them will he driven for two, three, and even five more years, the Ford Motor Company will continue to make replacement parts until, as Henry Ford himself says, "the last Model T is off the road.” For the Ford Motor Company has always believed that its full duty consists not only in making a good automobile at a low price, but also in keeping it running efficiently for you as long as possible at a minimum of expense. Notice Is hereby given that by vir­ tue of an execution issued out of the Circuit Court of the State of Oregon ' for Umatilla County to me directed j and delivered upon a judgment a n d ! decree and order of sale rendered i n ; said court on the 2nd day of A pril,! 1928, in favor of T h , Federal Land ! Bank of Spokane, a corporation, a- galnst Ansel F. Lundberg; and Stan­ N o matter where you live, therefore, you can still buy field National Farm Loan Associa­ tion, a corporation, in the suit there­ Model T Ford parts with the same assurance as formerly, in pending wherein the »aid The Fed­ knowing that they will give you the kind of service you eral Land Bank of Spokane, a cor­ poration, Is plaintiff and the said have a right to expect, and at the same time protect the Ansel F. Lundberg and Bernice E. money you have invested in your car. Lundberg, his wife; Stanfield Na­ tional Farm Loan Association, a cor­ All Ford replacement parts, as you may know, are made poration; Chas. L. Herley and Grace Herley, hig wife; and Henry Herley, of the same materials and in the same way as those from a widower, are defendants, for the which your car was originally assembled, and are low in sum of 335.00, together with Inter-1 est thereon at the rate of 8 per cent price because of the established Ford policy. per annum since the 11th day of Jan­ So that you may get the greatest use from your Model T uary, 1927 until paid; and the fur­ ther sum of 190.00, together with Ford over the longest period of time, we suggest that you '■ interest thereon at the rate of 8 per take the car to the nearest Ford dealer and have him esti* ; cent per annum since th , 11th day 1 of July, 1927 until paid; and the mate on the cost o f any replacement parts which may be further sum of 32,616.76, together necessary. You may find that a very small expenditure , with interest thereon at the rate of 5 per cent per annum since the 11th will maintain the value o f your car and will be the means day of July, 1927 until paid; and the of giving you thousands of miles of additional service. further sum of 3260.26, together with interest thereon at the rate of 8 per cent per annum sine« the 25th day of October, 1927 until paid; and the further sum of 3205.68, together with Interest thereon at the rate of 8 per cent per annum since the 15th day of November, 1927 until paid; and the further sum of 875.00, to­ gether with Interest thereon at the rate of 8 per cent per annum since the 29th day of March, 1928 until paid; and the further sum of 315.00. together with Interest thereon at the rate of 8 per cent per annum since tbe 15th day of December, 1927 until paid, less 3100.00 credited on ac­ , ..........- --------------- - — ■ — ------------------------------------- count of stock In the Stanfield N a -, ---------- ---------- '■. tlonal Farm Loan Association and for belonging or In any wise appertain- of August, 1926 until paid; and the right and Interest of said defendants the further sum of 3250.00 attorneys1 ing; and also all of the right, estate further sum of 348.00, together with In and to the same, be sold by the fees, and for th , further sum of 828.-! title and Interest of said defendants Interest thereon at the rate of 8 per Sheriff of Umatilla County, Oregon, 46 costs and disbursements, which Jn and to the same; said lands to be j cent per annum since the 14th day to satisfy said Judgment and all said decree and Judgment and order sold at public auction to the highest of February, 1927 until paid; and costs of sale h av, been duly docketed a n d ’bidder for rash In hand, the proceeds'the further sum of 31,408.44, toge- Therefore, I will, on the 12th day enrolled In the office of the clerk of;of sale to be applied in satisfaction ther with Interest thereon at the rat, of May, 1928, at the hour of two said court, and In and by which said of said execution and all costs. of 5 per cent per annum since the o’clock In the afternoon of said day, judgment. decre, and order of eale Dated this 3rd day of April, 1928. 14th day of February, 1927 until at the front door of the courthouse it was directed that the hereinafter R. T. Cook Ingham, Sheriff of paid; ami the further sum of 3519.95 in the City of Pendleton, Umatilla described real property in Umatilla Umatilla County, Oregon 32-5 together with Interest thereon at the County, Oregon, sell all the right, County, Oregon, together with the rate of 8 per cent per annum since title and Interest which the said de- tenementa,, hereditaments and appur­ the 17th day of June, 1927 until i fendants or either of them had on NOTICE OF S H E R IF F S SALE | paid; and the further sum of 363.03, | the 14th day of August, 1917 or tenances thereto belonging or in sny- UNDER EXECUTION w ls, appertaining, and also all of the Nolle is hereby given that by vir- ' together with interest thereon at the sin e, then have acquired or now estate, right and Interest of said d«* tu, of an execution issued out of the ’—‘ ™te ° * f * 8 ---- P " — Mnt * ------ P*r -----------*’------ annum 8,nc# have. In and to the following des­ feudal.,s in and to the same, be sold -C,rcu,t C w rt of th< g u u of th<# 29th day of March, i 928 until cribed premises situated In Umatilla by la s Sheriff of Umatilla County r Cniat,„ a Co,lnty to _ directed P“1«*: Bnd the further sum of 324.00, County, State of Oregon, to-wit: <*r,CSO“ '? ° ’atl’ fJr “ *d ,U