1 The distribution by commodities is necessarily estimated in most instances since accounting records were not required to be maintained on an individual commodity basis.

The amounts indicated hereunder are principally for salaries and expenses for
fiscal years 1947 to 1953 in connection with acreage allotments and marketing quotas
on the commodities shown. Prior to 1947, such work was handled as a part of the
agricultural conservation program, and administrative expenses for this work were
not maintained separately from administrative expenses of the agricultural conser-
vation program. Accordingly, amounts for acreage allotments and marketing
quotas for 1946 and prior years are not included in this statement.

3 Program conducted under the Jones-Connally Act.

Represents principally losses incurred on loans made from the revolving fund by
the Federal Farm Board to stabilize the prices of wheat and cotton. A large portion
of such losses resulted from donations authorized by Congress to the American
Red Cross, without reimbursement to the fund, of wheat and cotton acquired in
stabilization operations.

Represents income or minus expenditures.

Represents cost of commodity export program on cotton and wheat exclusive of export differential on cotton owned or pooled by CCC.

Includes $163.2 million for cotton-price adjustment.

Breakdown by commodity is not available. In general, row crops were considered to be soil depleting if grain or forage was removed from the land. In addition, small ⚫ grain crops harvested for grain or hay fell into this category.

Represents cost of the storage facilities program which applies primarily to the cost of providing local and emergency storage for corn and wheat in the earlier years of the Corporation's program.

10 Represents net loss on sales of hay for feeding in drought emergency areas in 1953. 11 Less than $50,000.

12 This item applies to a type of insurance which covers several crops on the farm
and on which indemnities are paid only for crop deficiencies based upon the total
value of the insured crops.

18 Includes $25.6 million and $4.9 million applicable to potatoes and vegetables,
respectively, in incentive payments under the 1943 agricultural conservation program.
14 Includes $163.2 million cost applicable to the cotton-price-adjustment programs
and $30.5 million in incentive payments under the 1943 ACP program. An item of
$12.1 million of program cost, which cannot be allocated to individual commodities,
is included in "Other costs not allocable to specific commodities" below.

15 Interest computed for each year on the basis of the average rate on the public
debt paid by Treasury in that year.

16 Consists of administrative expenses and other general costs or income not distributable by specific commodities.

17 Includes charged-off accounts and notes receivable of $1.8 million and the net realized gain on the supply and foreign purchase programs which are identifiable by broad commodity groupings as follows:

These programs were separate from the major activity of the Corporation and
were undertaken as a means of supplying the requirements of Government agencies,
foreign governments and relief and rehabilitation agencies, and to meet domestic
requirements. The gain of $185.8 million reflected under general commodities pur-
chase resulted from the establishment of sales prices at a level which would prevent
losses to the Corporation on the supplying of commodities and products thereof to
meet the requirements of the United States armed services, lend-lease participants,
foreign governments, relief agencies, etc., during World War II.

18 No administrative or other general costs are included for these acreage allotment
payments. The program was conducted as a part of the agricultural conservation
program and records of administrative and other nonpayment costs were not main-
tained separately for acreage allotment payments as distinguished from payments
for conservation practices.

19 Represents activities to assure production of crops in short supply and assistance
to farmers in obtaining equipment and materials necessary to achieve the production
required by the Korean mobilization.
20 Represents receipts from liquidation of the Federal Surpius Commodities Cor-
poration.

21 Exclusive of cash payments for school-lunch programs.

NOTE.-Details may not add to totals shown due to rounding.
February 1954.