“The Indiana director reports as follows: 

“’It will be seen that during the first and second years the rock phosphate produced little effect, while the acid phosphate very materially increased the yields.  During the third and fourth seasons, however, the rock produced very striking results, even forging ahead of the acid.  This and very similar investigations in progress lead us to believe that rock phosphate is a cheap and effective source of phosphorus where immediate returns are not required.

“In the Ohio experiments eight tons of manure per acre were applied once every three years in a three-year rotation of corn, wheat, and clover, three different fields being used, so that every crop might be grown every year.  The average yields for the thirteen years where manure alone was used were: 

53.1 bushels of corn 20.6 bushels of wheat 1.63 tons of hay

“The average yields on the unfertilized land were: 

32.2 bushels of corn 11.4 bushels of wheat 1.16 tons of hay

“If the corn is worth 35 cents a bushel, the wheat 70 cents, and the hay $6 a ton, in addition to the expense of harvesting and marketing, then the total value of the manure spread on the land is $2.07 a ton.

“Where $1.20 worth of raw phosphate (320 pounds) were added in connection with the manure the average yields were as follows: 

61.4 bushels of corn 26.3 bushels of wheat 2.23 tons of hay

“And where $2.40 worth of acid phosphate (320 pounds) were used with the same amount and kind of manure the following average yields were secured: 

60.4 bushels of corn 26.5 bushels of wheat 2.16 tons of hay

“These are the actual yield, and by any method of computation yet proposed, each dollar invested in raw phosphate has paid back much more than has a dollar invested in acid phosphate.”

“And was the use of the raw phosphate really profitable?” asked Mr. West.

“Well, you might figure that out for yourself,” Percy replied, “preferably using the average prices for your own locality for corn, wheat and clover.  As I figure it at prices below the ten-year average for Illinois, the raw phosphate paid about eight hundred per cent. net on the investment.”

“Eight hundred per cent!  You must mean eight per cent. net.

“No, Sir, I mean eight hundred per cent. net, but you had better take the data and make your own computations.  But does it not seem strange that, with such positive knowledge as this available, many of the Illinois landowners who have managed to sell off enough of their original stock of fertility in grain or stock at good prices to enable them to more than pay for their lands, should continue to invest their surplus in more land with hope that it will pay them eight per cent. interest, when they could secure many times that much interest from investing in the permanent improvement of the land they already own?”