During the fifteen years 1910-1925, the percentage of farms operated by full owners declined slightly, but the decrease in relative importance of this class of operators was much greater when measured by per cent of land in farms, per cent of improved land, and per cent of value of farm real estate. The only reversal of this trend was in the tenure distribution of the latter item from 1920 to 1925.1 Since part owners (owners additio al) and managers operate both land owned and land rented by the op rator, it is clear that the above figures do not show exactly the acreage and value of land operated by the owner as distinguished from the land rented by the operator. We have no information at present as to the area of manager-operated land which is rented by the operator, but this class is of relatively small importance, and we are
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