Extra census bulletin

*HA20l . 1^90. A2*i

cM> :...;.

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Apr. 1892
jq. 1394

Digitized by the Internet Archive

in 2010 with funding from

Boston Public Library

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Extra Census Bulletin.

No. 29, WASHINGTON, D. C. December 10, 1892.

STATISTICS OF FARMS, HOMES, AND MORTGAGES.

MORTGAGES IN MASSACHUSETTS.

DEPARTMENT OF THE INTERIOR,

Census Office,

"Washington, D. C, December 2, 1892.
Sir:

No bulletin of mortgage statistics has been issued by the Census Office for any northern state east of Illinois
previous to this one for Massachusetts, and it affords interesting comparisons with those for western and southern
states. During the 10 years, 1880-1889, 250,222 real estate mortgages were made in this state, representing an
incurred indebtedness of $508,455,550. The debt remaining in force January 1, 1890, is $323,277,668, secured by
178,202 mortgages, and of this debt $42,441,247 incumbers 920,313 acres and $280,836,421 incumbers 132,683 lots.

The mortgage movement of the 10 years, which has been an increasing one without interruption, began with
an incurred debt of $28,176,133 in 1880 and ended with $75,526,544 in 1889, an increase of 168.05 per cent, while
the population increased 25.57 per cent during the same time. During the decade a real estate mortgage debt
of $193,635,825 was incurred in Suffolk county, containing Boston, and the existing debt in that county is
$123,734,937. In 8 of the 14 counties the existing debt is more than $10,000,000 each.

In the ratio between the debt and the estimated true value of all taxed real estate Massachusetts compares
with 7 other states as follows :

PEE CENT.

Alabama 10.96

Illinois 14.06

Iowa 17.61

Kansas 28.13

Massachusetts 19.42

Missouri 16.15

Nebraska 24.58

Tennessee 8.67

In per capita indebtedness Massachusetts is exceeded among these states only by Kansas, but the statistics of
farm and home proprietorship for these 2 states indicate a larger proportion of land owners in Kansas than in
Massachusetts, and a larger real estate mortgage debt per capita of land owners in Massachusetts than in Kansas
is probable. The debt per capita of population is as follows :

Alabama $26

Illinois 100

Iowa 104

Kansas 170

Massachusetts 144

Missouri 80

Nebraska 126

Tennessee 23

C. O. P.— 3,500

FARMS, HOMES, AND MORTGAGES.

The mortgages in Massachusetts, on the average, are larger than in the other states, except on acres in
Illinois. The following numbers show the average amount of debt per existing mortgage on acres and on lots :

$1,064
1,281

Kansas

Massachusetts..

Missouri

Nebraska

Term

1,270

880

1,077

Mortgages endure for a longer period of time in Massachusetts, on the average, than in the other states, as
these figures show :

YEARS.

Alabama 2.734

Illinois 4.015

Iowa 4.924

Kansas 3 . 384

Massachusetts 6.240

Missouri 3.055

Nebraska 3.241

Tennessee 2.813

In regard to the objects of mortgage debt, the results in Massachusetts are similar to those obtained in other
states. In Franklin and Hampden counties, in which special inquiry on this subject was made, it was discovered
that 81.74 and 88.20 per cent, respectively, of the original amount of the existing debt was incurred because of
real estate purchase and improvements, when these objects were not associated with others.

Very respectfully,

ROBERT P. PORTER,

Superintendent of Census.
The Secretary of the Interior.

STATISTICS OF FARMS, HOMES, AND MORTGAGES.

MORTGAGES IN MASSACHUSETTS.

BY GEORGE K. HOLMES AND JOHN S. LOKD.

THE REAL ESTATE MORTGAGES OF 10 YEARS.

Massachusetts is the first northern state east of Illinois whose real estate mortgage statistics have been tabulated
and selections from the results are herein contained. Comparisons with other states will be especially interesting
when it is borne in mind that this state has a denser population than any other state in the union, except Rhode
Island ; that it is one of the wealthier and older states and prominent for trade and manufactures.

Table 1 shows that during the decade ending December 31, 1889, the real estate mortgages made in this state,
and mentioning the amount of debt secured, numbered 250,222 and represented an incurred debt of $508,455,550.
The amount of this debt incurred in 1880 was $28,176,133 and there was an increase from year to year until a debt
of $75,526,544 was incurred in 1889. In this progressive mortgage movement Massachusetts is classed with Illinois
and Iowa. The 658 mortgages made in this state in the course of 10 years, not stating the amount of debt secured
by them, are not included in any totals but their own, except in the number of acres and lots shown in Table 1, and
except when otherwise mentioned.

The increase from year to year in the number of mortgages made corresponds closely to the increase in the
amount of debt. In 1880 15,915 mortgages stating amount of debt were made, and 34,338 in 1889. The number
of mortgages made in 1889 gained 115.76 per cent upon those made in 1880, the amount of debt incurred 168.05 per
cent. During the 10 years preceding June 1, 1890, the population of the state increased 25.57 per cent.

In Suffolk county, containing Boston, a mortgage debt of $193,635,825 was incurred during the decade and
in. each of 10 of the 14 counties a mortgage debt of more than $10,000,000 was incurred — in Middlesex county,
$89,601,687; in Worcester county, $50,212,368 ; in Essex county, $44,003,927 ; in Hampden county, $31,927,894 ; in
Bristol county, $26,674,053 ; in Norfolk county, $23,455,152.

Mortgages on acres. — A debt of $63,917,645 was placed on acre tracts during the 10 years, or 12.57 per cent
of the total for acre tracts and lots, and this amount was represented by 45,236 mortgages, or 18.08 per cent of the
total number. In the annual movement of mortgages on acres there were fluctuations, but on the whole, the
incurred acre debt increased from $3,961,613 in 18S0 to $9,361,038 in 1889. The acre mortgages numbered 3,583 in
1880 and rose to 5,459 in 1889. The increase in the amount of debt on acres incurred in 1889 was 136.29 per cent
over the amount of 1880 ; in number of mortgages on acres, 52.36 per cent. In such a state as Massachusetts it
must not be inferred that all acre tracts of land have agricultural uses nor especially that they have agricultural
values. Considerable wood and pasture land is included in this description and in the neighborhood of the cities
and larger towns the acre values may be somewhat speculative. It has frequently happened that land measured in
acres has been mortgaged and soon afterwards cut up into building lots, and the same is more or less true of all of
the states.

Mortgages on lots. — Of the total amount of real estate mortgage debt incurred during the 10 years
$444,537,905, or 87.43 per cent, incumbered lots. The amount incurred in 1880 was $24,214,520, in 1889 it was
$66,165,506, and there was an uninterrupted increase from year to year during the decade. In 1880 12,332 lot
mortgages were made, in 1889 the number was 28,879. The gain in number of mortgages in 1889 over those of 1880
was 134.18 per cent, in amount of incurred debt 173.25 per cent.

Number of acres and lots covered. — During the 10 years 1,276,052 acres were incumbered by 45,435
mortgages stating and not stating amount of debt. In 1880 the number of acres incumbered was 105,339 ; in 1889
the number was 145.176. Increase of 1889 over 1880 37.82 per cent. Lots to the number of 190,248 were
incumbered during the decade by 205,445 mortgages stating and not stating amount of debt; 13,096 in 1880;
26,156 in 1889. Increase of 1889 over 1880 99.73 per cent.

Averages. — The average amount of each mortgage on acres made in the state during the decade was $1,413 ;
on lots, $2,169. Each mortgage on acres covered 28 acres on the average ; each mortgage on lots covered 0.93 of one
lot. Second mortgages reduce the last average below 1. A debt of $50.31 was placed on each mortgaged acre
on the average ; of $2,342 on each mortgaged lot. Mortgages not stating amount of debt are included in these
averages per acre and per lot.

4 FAKMS, HOMES, AND MOETGAGBS.

EXISTING INDEBTEDNESS.

Table 2 shows that the existing real estate mortgage debt of Massachusetts is 1323,277,668, of which $42,441,247,
or 13.13 per cent, is on acres, and $280,836,421, or 86.87 per cent, is on lots. Of the 178,202 mortgages in force,
33,385, or IS. 73 per cent, are on acres, and 144,817, or 81.27 per cent, are on lots. Mortgages in force cover 920,313
acres and 132,683 lots. Mortgages have an average life of 6.240 years; on acres, 6.883 years ; on lots, 6.145 years.
Partial payments are 13.04 per cent of the face of the existing mortgages on acres; 11.26 per cent on lots; total,
11.50 per cent.

An existing mortgage debt of more than $10,000,000 incumbers the real estate of each of 8 of the 14 counties ;
Suffolk county leads with a mortgage debt of $123,734,937 ; Middlesex county has a mortgage debt of $57,6S7,225 ;
Worcester county, $31,711,989; Essex county, $26,795,573; Hampden county, $19,547,915; Bristol county,
$17,086,162 ; Norfolk county, $16,360,802 ; Berkshire county, $10,244,960.

Some derived results that have been obtained follow :

Percentage of estimated true value of all taxed real estate represented by the debt in force 19.42

Percentage of the total number of taxed acres represented by the number of mortgaged acres 20.49

Average amount of debt in force per assessed acre $9.45

Average amount of debt in force per mortgaged acre $46.12

Average rate of interest on the existing debt 5.41

Average rate of interest on the existing debt on acres 5 . 64

Average rate of interest on the existing debt on lots 5.38

Average number of acres covered by each mortgage in force against acres 28

Average amount of debt to each mortgage in force $1,814

Average amount of debt to each mortgage in force against acres $1 ,271

Average amount of debt to each mortgage in force against lots $1,939

Per capita existing debt $144

BATES OF INTEBEST AND CLASSIFICATION OF AMOUNTS OF LOANS.

It is shown in Table 3 that 6 per cent was the principal rate of interest in this state during the 10-year period,
the amount of debt incurred at the rate being 45.68 per cent of the total. The amount of debt incurred at 5 per
cent interest was 32.17 per cent of the total ; under 5 per cent, 11.70 per cent of the total ; under 6 per cent, 48.66
per cent of the total ; 5 to 6 per cent, inclusive, 82.64 per cent of the total ; over 6 per cent, 5.66 per cent of the
total ; over 8 per cent, 0.39 of 1 per cent of the total ; over 10 per cent, 0.15 of 1 per cent of the total. During the
entire 10 year period Massachusetts was practically without a usury law. The legislature has limited the rate of
interest as follows in the years named: 1641, 8 per cent; 1693, 6 per cent; 1867, no limit; 1870, bonds issued by
corporations, 7 per cent; 1888, 18 per cent on loans of less than $1,000. The debt of over half a billion dollars
incurred in this state during the 10 year period bore 90 different rates of interest, and, besides this, $954,093 was
not subject to any interest. The highest rate discovered was 144 per cent.

The number of mortgages are classified according to their amounts in Table 4. During the 10 years 26.52 per
cent of the number of mortgages were made for amounts less than $500, 22.18 per cent for amounts of $500 and
under $1,000, 43.65 per cent for amounts of $1,000 and under $5,000, and 7.65 per cent for amounts of $5,000
and over.

SPECIAL INVESTIGATIONS.

In Franklin and Hampden counties special investigations were conducted, the character of which has been
explained at length in Extra Census Bulletin No. 3.

Objects of indebtedness. — The reasons why real estate mortgage indebtedness was incurred were ascertained
in these counties, and they may be found in detail in Table 5. In summarizing these details it is found that 55.68
per cent of the original amount of the existing debt, that is, without deducting partial payments, was incurred in
Franklin county to secure part of the purchase price of real estate, uncombined with other objects, and 55.97 per
cent in Hampden county.

To secure purchase money and to make real estate improvements, when not associated with other objects, were
the reasons why 81.74 per cent of the original amount of the existing debt was incurred in Franklin county, and
88.20 per cent in Hampden county. The percentage for real estate purchase and improvements, business and the
purchase of various articles of personal property, when not associated with other objects, is 92.48 in Franklin
county and 96.09 in Hampden county. The percentage for farm and family expenses, standing alone, is 3.16 in
Franklin county and 0.97 of 1 per cent in Hampden county.

Franklin county. — This county has an existing debt of $3,144,678, and 3,454 mortgages in force. The
population being 38,610, the per capita indebtedness is $81, and there are 11 persons, on the average, to a mortgage
in force. Mortgages cover 115,172 acres, and these are 28.63 per cent of the taxed acres; 794 lots are mortgaged.
The average incumbrance on each mortgaged acre is $20.98; on each mortgaged lot, $917. There are 44 acres, on

MOKTGAGES IF MASSACHUSETTS. 5

the average, incumbered by each mortgage on acres, and 0.96 of one lot by each mortgage on lots. Franklin county
is mentioned to the Census Office as the least prosperous of the Massachusetts counties. In manufactures it is one
of the less important counties of the state and its agriculture is supposed to have suffered for various reasons.
The population increased 7.25 per cent during the decade, the increase for the state being 25.57 per cent.

Hampden county. — The 9,166 mortgages in force represent an existing debt of $19,547,915, or $144, on the
average, to each of the 135,713 persons in the county, and 1 mortgage to 15 persons. The 80,740 acres covered by
mortgage are 23.13 per cent of the taxed acres ; there are 6,920 mortgaged lots. Each mortgage on acres incumbers
51 acres on the average, and each mortgage on lots incumbers 0.91 of one lot. The average debt to each incumbered
acre is $20.67, to each incumbered lot, $2,584. Hampden county, separated from Franklin by a few miles, is
regarded as one of the more thriving and progressive counties of the state. It is the most important paper
manufacturing region in the world and its other industries are varied and have been developed to a high degree of
excellence. Its population increased 30.32 per cent during the decade.

Table 1.— STATE SUMMARY OF NUMBER AND AMOUNT OF REAL ESTATE MORTGAGES PLACED ON RECORD AND

NUMBER OF ACRES AND LOTS COVERED, BY YEARS.
[These mortgages do not represent the total debt in force, because many have been paid.]

iiokti;ai;k stating amount of dekt.

Number. Amount.

250,222

15,915
19,049
20,874
22,465
24,633
25,560
27,342
29,427
30,619
34,338

28,176,133
37,761,073
43,148,483
44,872,397
46,591,232
50,443,481
56,653,163
60,678,128
64,604,916
75,526,544

Number. Amount.

3,583
3,720
4,068
4,100
4,466
4,790
4,890
5,081
5,079
5,459

,917, cr,

3,961,613
4,579,807
5,888,101
5,788,926
5,265,704
6,969,758
6,350,770
7,460,732
8,291,196
9,361,038

Number. Amount.

20I.9S6

12,332
15,329
16,806
18,365
20,167
20,770
22,452
24,346
25,540
28,879

24,214,1
33,181,1
37,260,1
39,083,'
41,325, i
43,473,'
50,302,,
53,217,:
56,313,
66,165,:

NUMBER OF .

MORTGAGED.

105,339
112,477
120,231
119,720
132,608
131,570
134,637
138,721
135,573
145,176

905,425

82,844
85,988
91,088
91,408
95,895
91,688
95,501
90,197
87,434
93,382

370,627

22,495
26,489
29,143
28,312
36,713
39,882
39,136
48,524
48,139
51,794

Number
of lots
mort-

190,248

13,096
14,521
15,480
16,595
17,974
20,899
20,409
21,798
23,320
26,156

NUMBER OF MORT-
GAGES NOT STATING
AMOUNT OF DEBT.

Table 1.

-NUMBER AND AMOUNT OF REAL ESTATE MORTGAGES PLACED ON RECORD AND NUMBER OF ACRES AND
LOTS COVERED, BY COUNTIES AND YEARS.

MORTGAGES STATING AMOUNT OP DEBT.

Number
of lots
mortr
gaged.

R OF MORT-

COUNTIES AND
YEARS.

Total.

On acres.

On lots.

AMOUNT OF DEBT.

Number.

Amount.

Number.

Amount.

Number.

Amount.

Total.

Stated.

Esti-
mated.

Total.

On

acres.

On
lots.

2,344

81,555,418

1,174

$856,713

1,170

$698,705

11,417

9,942

1,475

1,392

23

11

182
192
193
220
231
268
228
243
276
311

9,645

88,306
114,781
138,321
144,615
168,374
198,591
158,933
130,806
213,094
199,597

16,135,494

95
101
105
118
136
147
119
105
118
130

3,311

48,122
68,651
79,981
77,299
104,030

87
91
88
102
95

40,184
46,130
58,340
67,316
64,344
70,390
67,684
69,940
106,285
108,092

10,545,900

1 092

i nnn

92
92
122

112

91
98
95
104
108
146
109
146
267
228

5,676

1

2
2
2

1

2
1

'973 ^'881
988 ' 866
781 " 669

5

1
4
2

4

26

2

91,249 109
60,866 138

794
1,042
1,538
1,246

214,888

611

981
1,274
1,093

134,145

183
61
264
153

80,743

1
1
3

13

91,505
5,589,594

181
6,334

627

770

876

862

1,054

997

965

1,151

1,089

1,254

988,817
1,162,862
1,285,774
1,266,744
1,538,670
1,438,656
1,421,978

312
346
343
294
362
353
265

360,003

315

628,814
734,039

20,693
21,923
21,471

13,688
13,638
13,713

7,005
8,285
7,758
6,402

281
392
473
511
595
551
667
736
640
830

3

5
2
5
3
1
3

1
3

409,902 568 856,842
445,299 692 1,093,371
416,354 614 1,022,302
369,111 700 1,052,867

4

22,177 il 13,214 ! 8,963
17,192 | 10,940 | 6,252
21,965 13,680 ! 8,285
21,214 12,703 | 8,511
22,826 I] 13,562 | 9,264

I

3,423,210 328 j 1,539)486 761 1,883',724
1,599,294 384 1 454,405 870 ' 1,144,889

1889

FARMS, HOMES, AND MORTGAGES.

Table 1.— NUMBER AND AMOUNT OF REAL ESTATE MORTGAGES PLACED ON RECORD, ETC.— Continued.

MORTGAGES STATING AMOUNT OF

DEBT.

NUMBER OF

ACRES MORTGAGED.

Number
of lots
mort-
gaged.

NUMBER OF M(
GAGES NOT STA
AMOUNT OF D

>RT-

COUNTIES AND
YEARS.

Total.

On

acres.

On lots.

£BT-

Number.

Amount.

Number.

Amount.

Number.

Amount.

Total.

Stated.

Esti-
mated.

Total.

On

acres.

On
lots.

18,390

$26,674,053

1,753

$1,526,740

16,637

825,147,313

36,173

28,272

7,901

16,768

22

4

18

1,148
1,326
1,488
1,547
2,209
2,151
1,913
2,121
a, 162
2,325

436

1,724,350
1,814,699
2,533,085
2,176,979
2,963,777
3,031,870
2,826,584
3,024,153
3,142,973
3,435,583

451,893

120
127
172
156
213
129
169
200
231
236

69

90,853
140,742
142,214
151,431
156,399

98.983
133,128
143,867
222,576
246,517

82,267

1,028
1,199
1,316
1,391
1.996
2,022
1,744
1,921
1,931
2,089

367

1,633,497
1,673,957
2,390.871
2,025,548
2,807,378
2,932,887
2,693,456
2,880,286
2,920,397
3,189,036

369,626

2,554
3,219
3,674
2,811
4,173
2,198
3,998
3,807
4,390
5,349

3,628

2,007
2,600
3,008
2,311
3,554
1,627
3,641
2,760
2,819
3,945

3,030

547

619

666

500

619

571

357

1,047

1,571

1,404

598

1,296
1,174
1,305
1,381
1,973
2,170
1,705
1,854
1,868
2,042

563

2
2
2
1
2
2
2
2
4
3

6

1
1
1

1

1881

1

1

1

4

30
23
35
36
39
54
43
47
73
56

31,210

37,679
16,807
17,660
81,146
30,590
50,884
36,808
50,646
68,319
61,354

44,003,927

7
1
12
2

6

5
8
16

10

4,454

3,999

5,000
3,592
20,500
2,350
4,750
4,740
4,155
20,185
12,996

5,722,373

23

22
23
34
37
48
38
39
57
46

26,756

33,680
11,807
14,068
60,646
28,240
46,134
32,068
40.491
48,134
48,358

38,281,554

109
250
1,557
55
141
202
350
230
359
375

59,886

109
250
1,358
5
141
152
350
180
160
325

46,562

44
45
43
62
46
59
47
52
92
73

24,902

1

4

199

50

i

50

50
199
50

13,324

1

60

11

2,201

2,481
2,679
3,048
3,124
3,301
3,409
3,476
3,456
4,035

5,958

3,006,235
3,271,656
3,891,387
4,678,408
4,118,323
4,439.610
4,912,894
4,092,333
4,834,749
6^158,332

5,685,877

336
363

408
428
427
481
492
513
485
521

4,162

337,907
436,611
473,823
457.493
596,613
627,113
711,840
565,406
535,867
979,670

3,896,709

1,865

• 2,118
2,271
2,620
2,697
2,820
2,917
2,963
2,971
3,514

1,796

2,668,328
2,835,045
3,417,564
4,220,915
3,521,680
3,812,497
4,201,054
4,126,927
4,298,882
5,178,662

1,789,168

4,541
6,043
5,827
6,071
6,408
6,696
6,761
5,634
5,187
6,718

156,571

3,713
4,967
4,536
4,714
4,935
5,107
5,338
4,442
3,797
5,013

99,483

828
1,076
1,291
1,357
1,473
1,589
1,423
1,192
1,390
1,705

57,088

1,831
2,039
2,246
2,601
2,525
2,522
2,773
2,648
2,617
3,100

1,631

6
9
1
4
5
2
8
4
16
5

12

1881

1

8

1
1
2
2

1885

1886

6

1
5

397
461
517
517
738
743
671
692
597
625

15,470

364,187
497,532
498,654
457,316
754,180
616,391
614,759
705,372
615,115
562,371

31,927,894

185
201
216
234
338
609
587
631
551
580

2,291

174,687
195,839
211,756
202,262
299,167
514,516
528,412
645,011
570,020
525,039

2,555,466

212
260
271
283
400
134
84
61
46
45

13,179

189,500
301,693
256,898
255,054
455,013
101,875
86,347
60,361
45,095
37,332

29,372,428

8,559
8,610
11,196
10,349
13,284
21,865
19,696
22,888
19,367
20,757

108,449

8,167
8,071
10,657
9,713
9,122
11,975
10,932
10,942
9,820
10,084

73,272

392
539
539
636

4,162
9,890
8,764

11,946
9,547

10,673

35,177

193
227
222
246
358
132
87
62
60
44

11,512

1

2
4
1

1882

1
1

3

1884

3

2

1886

1887

1888

1

1

1889

6

2

4

1880

940
1,321
1,526
1,412
1,320
1,396
1,657
1,759
2,023
2,116

7,192

1,708,322
2,986,735
3,116,370
2,659,170
2,408,895
2,716,673
3,443,757
4,220,231
4,411,610
4,256,131

11,097,533

635,649

627,732
1,556,755
1,282,879

865,240
2,027,683

998,917
1,095,280

944,553
1,062,839

89,601,687

188
238
203
237
218
231
249
207
237
253

6,905

18S,746
287,968
327,494
248,939
270,811
248,812
238,071
223,177
275,017
246,431

10,722,000

752
1.083

1,519,576
2,69S,767
2,788,876
2,410,231
2,138,084
2,467,861
3,205,686
3,997,054
4,136,593
4,009,700

375,533

8,921
11,817

8,677
12,316
13,004
11,268
12,329

8,970
11,541

9,616

209,756

6,057
8,575
5,543
9,290
8,789
7,584
S.114
5,566
7,434
6,320

98,416

2,864
3,212
3,134
3,026
4,215
3,674
4,215
3,404
4,107
3,296

111,340

648

958

1,182

1,042

915

991

1,205

1,358

1,715

1,498

392

1881

1882

1
1
1
1
1
1
1

323
175

072
165
408
552
786

1

1883

1884

1
1

1885

1

1886

1887

1
2

1

Hampshire

287

46

43

3

579
589
714
702

708
775
857
679
814

54,656

567
576
686
677
748
679
743
824
660
745

6,852

621,999
017,752

1,531,008

1,259,829
827,491

1,980,457
927,342

1,052,395
906,628
997,099

12,511,841

12
13
28
25
27
29
32
33
19
69

47,804

13,650
9,980
25,747
23,050
37,755
47,226
71,575
42,885
37,925
65,740

77,089,846

17,215
18,613
21,421
21,207
23,254
19,983
22,400
24,044
18,598
23,021

132,202

9,800
9,576
10,878
10,471
11,514
9,594
11,239
8,635
7,012
9,697

124,776

7,415
9,037
10,543
10,736
11,740
10,389
11,161
15,409
11,586
13,324

7,426

26
18
30
35
28
42
63
47

76
44,409

8
9
8
2
1

1
1
3
11

139

7
8
8
1
1
2
1
1
3
11

26

,

1882

1884

1886

1887

1888

1889

113

3,301

3,980
4,340
4,719
5,010
5,000
6,522
6,608
7,101
8,015

4,916,489
6,533,974
7,193,133
8,401,757
7,994,499
8,020,684
10,574,509
11,006,988
11,362,096
13,594,558

592
550
538
593
550
624
753
876
884
892

892,000

955.864

808,330

1,259,050

877,281

1,034,993

1,276,070

1,820,417

1,661,032

1,926,798

2,709
3,430
3,802
4,126
4,490
4,376
5,769
5,732
6,217
7,153

4,024,489
5,578,110
6,384,803
7,145,707
7,117,218
6,985,091
9,298,433
9.180,571
9,701,064
11,667,760

10,857
11,418
10,728
11,471
10,545
12,218
14,904
17,963
14,547
17,551

10,446
10,789
10,172
10,794
9,964
11,468
13,961
17,334
13,918
15,930

411
629
556
677
581
750
943
629
629
1,621

2,499
3,309
3,512
3,705
3,872
4,365
5,105
5,520
5,915
6,607

12
9

13
9
14
14
17
20
24

1

1
1

2

1

3
3
5

7

11

8
6
11

8
12

1884

1887

14

1889

n

MORTGAGES IN MASSACHUSETTS.

Table 1.— NUMBER AND AMOUNT OF REAL ESTATE MORTGAGES PLACED ON RECORD, ETC.— Continued.

MORTGAGES STATING AMOUNT OP DEBT.

Number
of lots
mort~
gaged.

NUMBER OF M

COUNTIES AND
YEARS.

Total.

On acres. On lots.

AMOUNT OF DEBT.

Number.

Amount.

Number.

Amount.

Number.

Amount.

Total.

Stated.

Esti-
mated.

Total.

On

acres.

On
lots.

391

¥316,800

19

856,575

315

9260,225

615

523

92

382

1

21

18
30
42
42
53
35
55

5,202
11,141

17,647
38,812
36,223
62,665
30,150

4
2

4
6
4
7

7

625
475
315
13,720
12,000
2,435
5,6)5
6,650
2,900
11,810

7,561,766

17
16
28
38
36
19
28
48
41
44

10,289

4,577
10,666
17,332
25,122
21,223
60,230
21,505
21,682
38,559
33,329

15,893,386

19
17
8
21
69
86

136
81

113
59

47,305

6
4
8
24
56
73
123
57
113
59

46,573

13
13

17
17
27
47
38
69
37
45
46
39

12,157

1881

1882

1883

1881

13
13
13

27

1

1889

52 45.139

14,135

23,455,152 j] 3,846

732

45

16

795,575
1,071,283

997,995
1,100,510
1,397,072
1,615,710
1,735,251
2,026,610
2,238,881
2,581,169

10,412,050

4,621
4,461
4,702
4,783
4,783
4,208
4,044
4,669
5,803
5,231

46,964

4,605
4,445
4,624
4.736
4,705
4.177
3,966
4,560
5,618
5,107

10,101

16
16
78
47
78
31
78
109
155
121

6,863

538

1,027

820

933

988

2.819

1,257

1,137

1,212

1,426

8,300

3

5
3
5
3

I
4
7
3

65

2
3
1

1881

1882

1883

1,015 ' 1,516,493 307
1,110 : 1,566,512 351
1,324 2,036,841 360
1,390 1.953,561 350
1,465 | 2,289,693 385

445,210 708
568,517 759
636,301 964
556,489 1 1,040
613,983 1,080
891,465 1,193
968,418 1,267

2
2

1
3

1

1885

4

1,666
1,737
1,981

11,913

2,995,028 i 399

4
1

28

4
4
3
4

4,110,977
13,701,629

550
3,669

1,526,508
3,289,579

1,431

8,214

809
991
1,040
1,071
1,253
1,328
1,139
1,278
1,306
1,698

45,060

747,556
1,082,778
1,190,582
1,250,439
1,293,439
1,516,080
1,282,182
1.656,723
1,580,146

290
327

a33

333

401
424
401
386
357

215,511
283,881
318,517
258,605
287,061
424,946
313,479
370,453

519
661
707
738
852
901
735
892

532,015

798,897

872,035

991,831

1,006,378

1,091,134

938,703

1,286,270

1,169,547

1,725,207

3,342

3,962
4,089
4,122

2,967
3,558
3,613
3,632

375
101
476
490
548
663
822
793
1,225
1,067

9

469
589
681
631
733
812
891
901
1,065
1,489

40,654

5
9
7
11

5
4
8
6
8

50

4.913 1 4,280
5,613 4,791
4,702 3,909
5,274 1 4,019

■>.

2
1
2

376,197 i 1,284

723

711

2,616
3,214
3,389
3,802
4,286
4,736
4,944
5,466
5.783

9,937,526
11,105.691
16,273,420
15,921,592
18,'139,107
19,061,160
22,547,377
23,022,856
21,161,714

5

11
8

10
8

10
8
6
5
7

6,623

46,410
118,760
206,100
47,200
59,125
75,250
51,598
1 OS, 500
133.263
122,781

8,577,005

2,611 | 9,891,086
3,203 13,986,931

15
158
133
39
79
70
88
86
28
27

247,475

15
158
133
39
79
70
88
86
28
18

199,616

3,721
2,835
2,950
3,307
3,878
4,007
4,200
4,495
5,113
6,148

21,510

5

11
13

7

3

3,792
4,278
4.726
4,936
5,460
5.778
6,817

26,796

15,874,392
18,080,282
18,985,910
22,495,779
22,914,356
24,031,451
30,339,301

41,635,363

4
3

157

9
47,859

33,419 50,212,368

36

2,179 : 2,790,597

579
570
661
654
677
70S

551,078
591,231
710,725
716,395
771,558
768,963
778,611
800,905

1,600
2,098
2,276
2,509
2.455
2,652
2,759
3,413

2,239.519
3,123,961
3,158,158
3,726,271
3.551.190
1,203,876
4,398,985
5,238,986

22,801
21,013
25,760
23,875
27.189
23.979
26,332
22,637

20,264
18,476
21,979
19,596
24,355
20,911
21.107
17,065

2,537
2,537
3,781
4,279
3,131
3.035
4,925
5,572
8,955

1,442
1,793
1,894
1,987
1,917
2,184
2,260
2,794
2,683
2,556

2,937
3.163
3,132
3,360
3,479
4,008
4,291
4,202

3,869,183
4,172,669
1,326,018
1,972,811

8 :l 1

12 ' 4
10 !; 4
16 5

13 : 4

27 6
26 9

1887

6,039,891 :| 595

21

31

.

Table 2.— REAL ESTATE MORTGAGE DEBT IN FORCE JANUARY 1, 1890, BY COUNTIES.

COUNTIES.

The State 8323,277,668 512,441,217

Barnstable 873,721 : 425,346 418,375

Berkshire 10,2(4,960 3,445,897 6,799,063

Bristol 17,086,162 1,063,807 16,022,355

Dukes 296,386 42,598

Essex 26,795,573 I 4,031,019 22,761,554

Franklin 3,111,678 ' 2,416,520 728,158

Hampden $19,547,915 SI, 668, 927 817,878,988

Hampshire 6,697,517 6,414,450 283,067

Middlesex 57,087,225 8,827,819 48,859,406

Nantucket .'. 200,246 26,065 174,181

Norfolk 16,360,802 5,594,641 10,766,161

Plymouth 8,895,557 2,126,361 6,769,196

Suffolk 123,734,937 465,152 123,269,785

Worcester 31,711,989 5,892,615 25,819,344

FARMS, HOMES, AND MORTGAGES.

Table 3.— AMOUNT OF REAL ESTATE MORTGAGES BEARING SPECIFIED RATES OF INTEREST, BY YEARS.

The State.. S50S,455,550 528,176,133 537,761,073 543,148,483 511,872,397

0.0 per cent..
0.5 -

6,591,232 550,443,481 556,653,163

3,678,128 504,604,916 575,526,544

1.0...

do

1.5...

.do

2.O..

.do j

2.5...

.do

3.0...

.do

3.5...

.do

4.O..

.do

4.1..

.do

4.3..

.do

4.4-

.do

4.5..

.do 1

4.7..

.do

4.8-

.do

5.O..

..do

5.3..

.do

5.5..

.do

5.7...

.do

5.8..

.do

6.O..

.do

6.1...

.do

6.2..

.do

6.3..

.do

6.4-

.do

6.5..

.do

6.6..

.do

6.7-

.do

6.8-

.do !

6.9..

.do

7.O..

.do

7.1-

.do !

7.2..

..do

7.3..

.do

7.4..

.do

7.5..

.do

7.6-

..do

7.7-

..do

7.8-

..do

7.9..

.do

8.O..

..do

8.1-

..do

8.2..

..do

8.3..

..do

8.4..

..do

S.5..

..do

8.6-

..do

9.O..

..do

9.3..

..do

9.5..

..do

9.6..

..do

10.0..

..do

10.5..

..do

11.0..

..do

12.0..

..do !

12.5..

..do

13.0..

..do

14.0..

..do

15.0..

..do

16.0..

..do

17.5-

..do

18.0..

..do

20.0-

..do

21.0-

..do

24.0-

..do

25.0..

..do

26.0.

..do

27.0..

..do

30.0.

...do

32.0.

...do

35.0.

...do

36.0.

...do

37.0.

...do

39.0.

..do

40.0.

...do

42.0.

...do

48.0.

...do

50.0.

..do

52.0.

...do

51.0.

..do

57.0..

..do

60.0.

...do

61.0.

..do

62.0.

..do

63.0..

..do

72.0..

..do

80.0..

..do

81.0..

..do

84.0..

..do

90.0..

..do

144.0..

..do

951,093

900

28,058

53,225
373,424
55S.170

,616,481

.130.S00
173,500
1,936,610

1,050
13,199
1,800

3,596
3,400
1,100
1,500

22,274
"l,85i"

45,474

i'oa'ss"

63,239

900

1,000

42,102

"i'sob"

124,544
5,*500"

42,842
'60,'574

18,900

6,000

669,007

21,250

20,260

1,400

1,451,533

23,875

IS, 830

1,100

1,003,675

110,590
2,010

3,666

40,567

544,870

5,609,742

13,160

4,000

2,850,875

150,000

3,845,363

465,500

165,000

3,967,313

2,000
11,365,593

,406,336 7,614,604 10,987.860

700 29,000 4,000 i

766,560 1,178,579 1,565,118 2,282,288

57,800

13,010,510

8,000

2,752,015

17,511,502 22,051 ,5'.lf.

6,500 1,000

2,464,854 2,2L4,779

19,587,423

450

4,500

1,462,919

23,262,803

9,100

124,650

27,200

769,193
2,000
2,450

3,100

23,569,628

4,000

143,000

23,400

2,500

505,277
8,800
2,200

24,076.397

2,700

213,475

62,015

3,900

1,200
,363,543

1,050

22,918,633

11,100

242,965

51,950

5,050

412,096
5,600
8,150
9,100
1,100

22,488,556

9,950

269,870

19,912,093

1,200

324,950

102,800

250,500

:, 201, 679
9,100

1,331,701

3,000

146,000

1,118,383
11,350
284,155
183,100

21,966,306

36,600

3,709,202

84,784

62,111

34,732

50,983

26,378 !

17,185

239,621

209,498

170,220
1,000

39,572
1,200

381,893
2,250
2,500
2,550
2,500

939,064
1,550
1,800
15,321

15,050
792,295

239,270
6,050
1,650
3,700
91,300

966,290
2,600
66,100
20,812
1,000

61,700

58,400

26,465,010

18,400

369,524

255,475

1,650

263,805
6,450
4,900
4,850
93,800

1,009,448
1,500
43,150
6,267

14,100
195,398

2,000
226,846

409,679

1,700'

1,900

2,150 ...

6,075

24,975

15,710

16,742

20,671

9,953

20,932

36,200

103,574
1,500
1,450

6,260
1,087

2,000
4S5

13,530

83,416

4,720

360
1,500

700
102,880

5,540,662

23,800

8,500

5,347,717

7,500

10,000

1,075

27,880,242

10,900

519,010

191,225

8,800

262,564
5,150
10,500

74,173

800

11,024

950

200

3,325

MORTGAGES IN MASSACHUSETTS.

Table 4.— NUMBER OF REAL ESTATE MORTGAGES CLASSIFIED BY AMOUNTS OF LOANS, BY YEARS.

( 1. A-S1I'I( A'I'ION OF AMOUNTS.

The State

Under $100

8100 and under $200

$200 and under $300

$300 and under $100

$400 and under $500

$500 and under $1.000

$1,000 and under $1,500

$1,500 and under $2,000

$2,000 and under $2,500

$2,500 and under $5,000

$5,000 and under $10,000

$10,000 and under $15,000

$15,000 and under $20,000

$20,000 and under $25,000

$25,000 and under $50,000

$50,000 and under $100,000

$100,000 and under $500,000 ....
$500,000 and under $1,000,000.
$1,000,000 and over

19,019 20,874

25,560 27,342

4,126
15,111
17,695
16,426
12,995

55.498
40,376
22,222
17,538

11,922
3,219
1,370

1,123
1,229
1,151

3,932
2,513
1,205

1,188
1,370
1,267
1,072

2,995
1,537
1,267
2,154

328
1,315
1,443

4,781
3,342
1,777
1,478
2,426

1,024

1,377
1,570
1,547
1,173

5,079
3,538
1,917
1,483
2,654

1,548
1,804
1,721
1,265

5,571
4,056
2,077

1 ,595
1,918
1,782
1,349

5,624
4,152
2,150
1,758

2,878

1,202

1,462

5,959
4,386
2,524
1,961
3,240

1,274

1,775
2,059
1,904
1,478

6,493
5,018
2,918
2,313
3,637

1,862
2,262
2,129

7,290
5,508
3,258
2,665
4,294

1,687

10

FARMS, HOMES, AND MORTGAGES.

Table 5.— OBJECTS OF REAL ESTATE MORTGAGE INDEBTEDNESS AS DETERMINED BY PERSONAL INQUIRY, BY

SELECTED COUNTIES.

FRANKLIN.

OBJECTS OF INDEBTEDNESS.

Purchase money

Improvements

Purchase money and improvements..

Business

Farm and family expenses

To buy more land

Manufacturing business

Undescribed debts

Improvements and to buy more land..
To secure an indorser

Speculation

Improvements and machinery..

Improvements and business

Security debts

Purchase money and business..

Borrowed money • —

Improvements, mining and bank stock...
Farm and family expenses and sickness..
Improvements and farm and family e:

penses.
Improvements to replace loss by fire

Losses in business....
To buy stock in a
pany.

Family expenses

Farm stock

Mercantile business-

western cattle

business

provements, and farm

To assist relatives
Purchase money,

stock.
Purchase money and farm and family ex

penses.

Grocery and produce business

Improvements and undescribed debts

Grain and saw mill business

Sickness

Improvements and farm stock

Improvements and sickness

Raising and dealing in fancy stock

_nd lo__.
Farm and family expenses and unch

scribed debts.

To buy manufacturing stock

To help relatives

Improvements and security debt

To buy land in California

To pay a son's debts

Lumber business

Family expenses and business

Mining speculation

Blacksmith's business

To furnish a hotel

Purchase money and undescribed debts..
Livery business

Purchase money and dissipation

To buy land in the west

To buy land in Wisconsin for relative

Purchase money and security debt

Farm and family expenses and borrowed

money.
Sickness and funeral expenses..

1,U25, ri5B
787,477
134,578
70,060
63,011

59,766
33,275
46,480
26,725
21,225

20,997
19,000
25,450
18,011
17,800

15,705
15,000
12,515
16,385

12,539
10,106
11,576

Amount

unpaid

January 1,

1890.

3,144,678

6,297
5,900
4,825
4,600

3,350
3,140
3,118
4,193
4,500

2,500
2,300
2,000
2,212
1,875

1,800
1,800
1,700
5,000
2,150

1,600

1,664,831
696,256
128,368
67,030
59,143

52,998
32,275
26,607
26,475
21,225

20,847
18,437
17,950
17,271

15,105
15,000
11,975
11,860

OBJECTS OF [Nl)E17n:i>NESS.

10,099
9,770
9,659

6,450
6,245
5,501
4,825
4,600

4,061
4,000

3,140

2,778
2,643
2,625

2,500
2,050
2,000
1,962
1,875

1,800
1,800
1,700
1,700
1,600

1,600

Paint and paper business

To buy more land and help a son in busir

Machinery

Purchase money and to start daughter

business.
Improvements and to educate a son

Money to relend

To buy land in Vermont..

Education of children

Investment

Dissipation

Number
of mort-

Amount
Original | unpaid
amount. January 1,
1890.

Sidewalk making business

Improvements and farm and family ex-
penses, farm stock, and funeral expenses.

To furnish boarding house

To buy land in another state

To buy land in Washington

Expenses of moving west

Improvements to repair damage by cyclone.

Meat business

Excessive mortgage to help inflate value oi

the land.
To buy more land for a son

Improvements and to hire a substitute to ei

list during civil war.

Saloon business

Transfer and teaming business

To buy more land and traveling expenses..
Farm and family expenses, farm stock, an

sickness.

Jewelry business

Tinware business

To pay a husband's debt

For support of child

Farm and family expenses, stock, machir
and implements.

To pay taxes and interest

Contractor's business

To develop a patent

For the service of a son

To buy a stage and mail route

To start in Virginia

Farm and family expenses and taxes

Boot and shoe business

Farm stock and undescribed debts

To buy more land, and sickness

Farm machines and implements and bor-
rowed money.

Sickness and debts of a son

To help pay a church debt

To bnv land in Florida

Fertilizers

To help a soldier obtain his pension

Improvements and funeral expenses

To buy land in New Hampshire

Fur business

To move family to Minnesota

To pay loss on contracts

Newspaper business

To start a son in business

To buy lumber for a son to build house...

To help a husband pay for land

Law suit

Farm and family expenses and lumber....
Unknown

$1,700
1,500
1,390
1,200

1,200

1,200
1,200
1,150
1,450
1,100

1,200
1,000
2,140

900

1,360

880

1,250

1,050

800

800

1,000

3,0(10
1,240

MORTGAGES IN MASSACHUSETTS.

11

Table 5.— OBJECTS OF EEAL ESTATE MORTGAGE INDEBTEDNESS, ETC.— Continued.

HAMPDEN.

OBJECTS OF

OBJECTS OF INDEBTEDNESS.

I Amount
Original | unpaid
amount. January 1,
1890.

The county

Purchase money

Improvements

Purchase money and improvements

Business

Improvements and business

To buy more land

Collateral security

Manufacturing business

Family expenses

Purchase money and business

Speculation and investment

To pay security debt

Improvements and family expenses

Purchase money, improvements, and in-
terest.
Foundry business

Farm and family expenses

Mercantile business

Borrowed money

Grocery business

Purchase money, improvements, and busi-

To secure indorsers

Meat business

Extravagant living

To buy more land and improvements

To help son in business

Tobacco business

Jewelry business

Drug business

Purchase money and family expenses

Sickness

Undescribed debts

Livery business

Purchase money, improvements, sickness,
and funeral expenses.

To help others

Furniture business

Private

To relend

Lumber business

Business losses

Clothing business

Crockery and glassware business

Farm and family expenses, and to buy
farm stock and implements.

Sickness and funeral expenses

To rebuild after a fire

Whip manufacturing business

Improvements and to buy farm stock

Settlement in lieu of wife's dower

Improvements and farm and family ex-
penses.

To travel in Europe

Cigar manufacturing business

Brick making business

Business and to pay security debt

Education

To buy land in California

Interest and taxes

Improvements, sickness, and funeral ex-
penses.

Wood and coal business

Building and contracting business ...

Piano and organ business

To help relatives

Family expenses, sickness, and funeral ex-
expenses.

Purchase money and to buy farm stock
and implements.

Stone mason's business

Improvements and to pay security debt

Improvements, farm and family expenses,
and to buy farm stock.

9,166 S21 ,990,431 $19,547,915

Tin business

To buy farm stock

Farm and family expenses, sickness,

funeral expenses.
To buy farm and stock and implements..
Litigation and lawyers' fees

Farm and family expenses and business

Farm and family expenses and speculation ..

Business and losses in farming

Nursery business

Farm and family expenses and investment.

To buy land in Connecticut

Family expenses and business

Improvements and speculation

Furnishing and upholstering business-
Farm and family expenses and litigatio

Improvements and to buy farm stock and
implements

Hardware and lumber business

Purchase money and farm and family ex-
penses.

Ice business

Real estate business

Bakery business

Plumbing and gasfitting business.

Express business

Liquor business

Carriage building business

Merrliant tailoring business

Feed business

Purchase money and to help i
ness.

Crain business

Gardening business

Dairy business

To buy more land and family expe
To buy more land and farm stock..

Woolen commission business

Laundry business

Business and sickness

Purchase money and to pay security debt..

Gift to relatives

Tea, coffee, and spice business

To help start in profession

To buy undescribed personal propertv .

To buy land in Iowa

Alimony and expenses of divorce suit..

'A'o buy a hack and team of horses

To buy horses, not on farm

Fruit and confectionery business

Junk business

To pay traveling expenses

To pay funeral expenses

Furniture and undertaking business .

To buy stone

Improvements, and to buy team, not

Hotel business

To secure an account and pay securi

debt.
Notion business

Boarding house business

Saw mill business

To buy a carriage

Sickness and to buy a horse.

Book agency business ...

Losses in farming ,

Expenses of a vacation .,
Woodenware business...

Purchase money, family expenses, and busi-
ness.

To buy a water wheel ...

Harness business

"Unknown

$2,500
2,361
2,309

2,200
2,500
2,000
2,000
2,000

2,000
1,900
1,850
2,400
2,100

2,300

1,500
1,100
1,700

82,500
2,321

2,200
2,200
2,000
2,000
2,000

2,000
1,900
1,850

1,442
1,400
1,390

1,150
1,100
1,100