Browsing by Author "Gibson, William L. Jr."
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- An analysis of financial statements of Virginia's retail farm equipment businessesGlass, Max Rolfe (Virginia Tech, 1962-05-05)Data obtained by mail questionnaire and financial statements of sixty-two firms permitted a partial description and analysis of Virginia's retail farm equipment industry. The data were combined and analyzed according to sale. and profit groups. The primary analysis used was comparative analysis. Selected business ratios, sales per employee, and returns to management were computed for each sales group. Analysis of gross margin by departments was made for thirty-three firms by sales groups within and among departments. Among and within analysis of variance was used to test whether statistically significant differences existed among sales groups. Separation of means was used to determine which means were significantly different. The standard deviation and coefficient of variation were calculated to measure the variation among firms. The range, arithmetic mean, and median were also computed. Regression analysis was employed to measure the effects of selected factors on net profits. Wide variations existed in net profits for the sample firms. Evidence of economies of scale was found. There were firms within each sales group which showed substantial profits. However, there were firms within four of the five sales groups which had severe 1osses. Volume of sales, other income, gross margin, operating expenses, advertising, and inventory turnover were statistically significant in explaining the variation in net profits. However, advertising and inventory turnover did not affect net profits as hypothesized.
- An economic study of agriculture on 174 farms having colored operators in Nansemond county, Virginia, 1932Gibson, William L. Jr. (Virginia Tech, 1934-06-05)The colored farmers in Nansemond County suffered severely during 1932 from both low prices which they received for their products and weather conditions. The average capital for the farms studied was $2,556, of which 88.2 per cent was invested in real estate. the total capital invested per farm varied from about $1000 to about $5000.
- The effect of the flue-cured tobacco (U.S. types 11 and 12) price support program on the sale value of farm real propertyHedrick, James Lupton (Virginia Polytechnic Institute, 1959)The problem considered in this study arose from the need for an emperlcal analysis of the sale value of land to determine if the increased price benefits of the governmental flue-cured tobacco program have been absorbed by higher land rents. If acreage allotments giving the right to produce tobacco under the program are capitalized into farmland values to an appreciable extent, the program objective of increasing farm incomes would be partially defeated through higher rents. The objective of this study was to determine the extent to which allotments have been capitalized into land values. Data on sale value of farms and factors expected to influence the farm sale value were secured from primary public record sources for the four-year period from 1954 to 1957 in two distinctly different flue-cured tobacco regions--Pittsylvania County, Virginia, and Wilson, Greene, and Pitt Counties, North Carolina. These data were analyzed by a multiple regression statistical technique designed to measure the value of an acre of tobacco allotment es a right to produce. The statistical coefficients indicated that an acre of tobacco allotment increased in value from $962 in 1954 to $1,673 in 1957 for Pittsylvania County and from $1,830 to $3,308 for Wilson, Greene, and Pitt Counties. The size of the values for an acre of tobacco allotment as well as the increase in values over the four-year period during which allotments were reduced under the program by 33 percent indicate that an appreciable proportion of the price·rais1ng benefits of the program have been capitalized into land values.
- The effects of various wage rates on farm organization and structure in Southwest Virginia: a study minimizing average outlay when obtaining specified income levelsGivan, William D. (Virginia Tech, 1968-12-15)This study was undertaken to evaluate the effects of various wage rates on the minimum amounts of resources needed to obtain specified income levels on farms in Southwest Virginia. In addition, the aggregate effects of these wage rates on the structure and organization of farms in this area was determined. A linear programming model with added average outlay as a minimization criterion was constructed to determine the optimum resource use and enterprise combinations for' three representative farms to achieve operator labor incomes of $3,500, $5,000, $7,000, respectively. An aggregation model was used to determine the aggregate effects of these changes on farm organization and structure in the area. The study indicated that there are presently a large number of farms in the area with open land acreage below the minimum required to provide full-time productive employment for the operator. When available cropland is not sufficient to enable an individual to obtain a specified income, it is more profitable, in terms of minimizing average outlay, to purchase additional open land in order to obtain additional tobacco acreage and other cropland, than to utilize large amounts of existing unused pasture. An increase in hired labor wage rates, when an individual farm is achieving a specified income, may result in the hiring of additional labor, however, added amounts of non-labor inputs would increase at a faster rate than increases in amounts of labor used. Should all farms in the area adjust to attain the income levels specified in the study, farm numbers would decrease. An increase in the production of crops and livestock enterprises would result. This increased production would result in gross returns from the sales of crops of more than three times the amount presently received from crop sales in the area, and returns from livestock sales would be more than twice the amount presently received. This production would be produced by a total labor force of one-half, or less, the present labor force available on the farms in the study area. The results of this analysis substantiate the results of earlier studies which indicate that capital will be substituted for labor as farm wages are increased, and, an increase in aggregate farm production can be obtained with a decrease in total farm labor utilized. A need for some type of labor-saving innovation, as increased price supports for burley tobacco, will become necessary as the price of labor and other farm inputs increase. A study devoted to the development and analysis of some type of policy to encourage the combination of the smaller farms into larger, more efficient units is in order if all farm operators are to earn income levels comparable to that of off-farm employment. The resulting production from such a change would alter the type of farming presently conducted in the area.
- Security of occupancy through part ownershipCrickenberger, Ray Samuel (Virginia Tech, 1958-05-05)The problem of this study arose out of the need of farm operators to adjust their resources as needed over a period of time.
- A study of selected factors associated with reenrollment and non-reenrollment of 4-H club membersBlanton, Robert Walter (Virginia Tech, 1965-07-14)Lack of re-enrollment in 4-H Club work after one year participation is studied.
- What will become of your property?Walrath, Arthur J.; Burkhart, G. W.; Gibson, William L. Jr. (Virginia Cooperative Extension Service, 1970-12)Discusses the Virginia laws that govern the distribution of a deceased person's property in absence of a valid will.