(navigation image)
Home American Libraries | Canadian Libraries | Universal Library | Community Texts | Project Gutenberg | Children's Library | Biodiversity Heritage Library | Additional Collections
Search: Advanced Search
Anonymous User (login or join us)
Upload
See other formats

Full text of "Extra census bulletin"

*MA20I . 1^90. A^ 



ciV9 .:.. 



Apr. 1^9 
uq. IB 




2^ 

94 



^ 



\ 



Digitized by the Internet Archive 

in 2010 with funding from 

Boston Public Library 



http://www.archive.org/details/extracensusbulle44unit 



Extra Census Bulletin. 



No. 44. WASHINGTON, D. C. May 11, 1893. 

STATISTICS OF FARMS, HOMES, AND MORTGAGES. 

OWNERSHIP AND DEBT IN NEW HAMPSHIRE. 



DEPARTMENT OF THE INTERIOR, 

Census Office, 
Washington, D. C, May 2, 1893. 
Sir : 

The leading results of the investigation of farm and home proprietorship in New Hampshire are contained in 
this bulletin. In regard to farms, the conclusion is that 10.92 per cent of the farm families hire and 89.08 per cent 
own the farms cultivated by them ; that 21.79 per cent of the farm owning families own subject to incumbrance and 
78.21 per cent own free of incumbrance. Among 100 farm families, 11 hire their farms, 19 own with incumbrance, 
and 70 without incumbi-ance. On the owned farms of this state there are liens amounting to $4,219,278, which is 
38.44 per cent of their value, and this debt bears interest at the average rate of .5.91 per cent, making the average 
annual interest charge $44 to each family. Each owned and incumbered farm, on the average, is worth $1,940, and 
is subject to a debt of $746. 

The corresponding facts for homes are that (50.73 per cent of the home families hire and .'j9.27 per cent own 
their homes ; that of the home owning families 74.70 per cent own free of incumbrance and 25.30 per cent with 
incumbrance. In 100 home families, on the average, 61 hire their homes, 10 own with incumbrance, and 29 without 
incumbrance. The debt on owned homes aggregates $5,044,905, or 37.35 per cent of their value, and bears interest 
at the average rate of 5.92 per cent, so that the annual amount of interest to each home averages $52. An average 
debt of $873 incumbers each home, which has the average value of $2,336. 

There are 5 cities in the state in the class of those having a population of 8,000 to 100,000, and in these cities 
70.98 per cent of the home families hire and 29.02 per cent own their homes ; and of the home owning families 
24.72 per cent own with incumbrance and 75.28 per cent own free of incumbrance. In 100 home families, on the 
average, are found 71 that hire their homes, 7 that own with incumbrance, and 22 that own without incumbrance. 
The liens on the owned homes are 37.01 per cent of the value of those subject to lien. Several averages show that 
the rate of interest is 5.95 per cent; value of each owned and incumbered home, $3,256; lien on the same, $1,205, 
and yearly interest charge on each home, $72. 

Real estate purchase and improvements, when not associated with other objects, caused 79.42 per cent of the 
farm families to incur 80.14 per cent of the farm debt and 81.15 per cent of the home families to incur 79.81 per 
cent of the home debt. 

Very respectfully, 

ROBERT P. PORTER, 

Superiniendeni of Censtis. 
The Secretary of the Interior. 

C. O. p.— 3,500 



STATISTICS OF FARMS, HOMES, AND MORTGAGES. 

OWNERSHIP AND DEBT IN NEW HAMPSHIRE. 



BY OEORGE K. HOLMES AND JOHN S. LORD. 



Selections from the resvilts of the investigation of farm and home proprietorship and indebtedness in 
New Hampsliire are presented in tliis bulletin. Every family in the state is regarded as occupying a farm or a home 
not on a farm, and as hiring such farm or home, or owning it free of incumbrance, or owning it subject to 
incumbrance. In the class last named account has been taken of the incumbrance, its rate of interest and object, 
and the value of the farm or home. 

Habitation peoprietoeship. — Among the 87,348 families of the state there are 38,526, or 44.11 per cent of 
the total, which hire their farms and homes and 48,822, or 5-5.89 per cent, which own them. Of the families which 
own, 11,441, or 23.43 per cent, have farm or home incumbrance and 37,381, or 76.57 per cent, are free of incumbrance. 
In 100 families, on the average, 44.11 hire their farms or homes, 13.10 own with incumbrance, and 42.79 own without 
incumbrance. 

Faem peopeietoeship. — There are 29,151 farm families in New Hampshire, which is 33.37 per cent of the total 
number of families. Of these, 25,969, or 89.08 per cent, own and 3,182, or 10.92 per cent, hire the farms cultivated 
by them, while of the owning families 5,659, or 21.79 per cent, have incumbrance on their farms and 20,310, or 78.21 
per cent, have no incumbrance. Tlie average 100 farm families are composed of 10.92 that hire, 19.41 that own with 
incumbrance, and 69.67 that own without incumbrance. 

In 1880 8.13 per cent of the farms were hired, so that there is an apparent relative increase of farm tenancy 
during the decade ; but the sources of the statistics for 1880 and 1890 are not the same, since the figures for 1880 
repi-esent farms and those for 1890 farm families, and this may somewhat affect the comparison. 

Home peopeietoeship. — The 58,197 home families are 66.63 per cent of the families of the state, and are 
divided into the several classes as follows : hiring families, 35,344, or 60.73 per cent of the total number of home 
families; owning families, 22,853, or 39.27 per cent; families owning free of incumbrance, 17,071, or 74.70 per cent 
of the total number owning; families owning subject to incumbrance, 5,782, or 25.30 per cent of the owning families. 
Of 100 home families, on the average, 60.73 hire their homes, 9.94 own with incumbrance, and 29.33 own without 
incumbrance. 

City homes are hired in a greater degree than is found outside of cities. In the 5 cities of the state having a 
population of 8,000 to 100,000 there are 20,868 home families, of which 14,813, or 70.98 per cent, hire and 6,055, or 
29.02 per cent, own their homes. Homes subject to incumbrance are occupied bj- 1,497 owning families, or 24.72 per 
cent of the total owning families, and 4,558 families, or 75.28 per cent of the owning families, have no home 
incumbrance. In 100 of these city home families, on the average, 70.98 hire their homes, 7.18 own with incumbrance, 
and 21.84 own without incumbrance. In Manchester 78.69 per cent of the home families hire their homes, and this 
is the largest percentage found among the 5 cities; Nashua comes next, with 70.04 per cent. The smallest percentage 
is 58.23 for Concord, and next to this is 66.18 for Portsmouth. 

In the state, outside of the 5 cities referred to, 55.00 per cent of the home families hire and 45.00 per cent 
own their homes ; 25.51 per cent of the home owning families own with incumbrance and 74.49 per cent without 
incumbrance; while among 100 home families, on the average, 55.00 hire their homes, 11.48 own subject to 
incumbrance, and 33.52 own free of incumbrance. 

Value and incumbeancb. — Liens amounting to $9,264,183 incumber the 11,441 owned farms and homes of the 
state that are subject to incumbrance, $4,219,278 of which is on 5,659 farms and $5,044,905 on 5,782 homes. The 
value of the incumbered farms and homes is $24,482,907 ; farms, $10,976,087 ; homes, $13,506,820. Eatios of debt 
to value: farms and homes, 37.84 per cent; farms, 38.44 per cent; homes, 37.35 per cent. 

A debt of $1,804,324 incumbered 1,497 owned homes of the 5 cities containing a population of 8,000 to 100,000, 
and these incumbered homes are worth $4,874,757, so that the debt is 37.01 per cent of the value. The debt 
incumbering the owned homes in the state outside of the 5 cities is 37.54 per cent of the value of the homes subject 
to the incumbrance. 

Aveeage values and incumbeances. — The average owned and incumbered farm of the state is worth $1,940; 
home, $2,336; of each home in the 5 cities, $3,256. 

41—2 3 



FARMS, HOMES, AND MORTGAGES. 



The average farm incumbrance for the state is $746; home, $873; home incumbrance in the 5 cities, $1,205. 
Hillsboro county has homes of the highest average value, namely, $2,999, and the least average value, $1,492, is in 
Carroll county. In the state outside of the 5 cities the average home value is $2,014; incumbrance, $756. As 
before stated, all values are confined to incumbered farms and homes occupied by owners. 

Interest bates. — -The chief rate of interest in this state is 6 per cent. This rate is paid on 90.07 per cent of 
the farm incumbrance by 91.68 per cent of the farm debtor families; on 90.72 per cent of the home incumbrance 
by 93.72 per cent of the home debtor families ; in the 5 cities on 92.15 per cent of the home incumbrance by 93.52 
per cent of the families occupying owned and incumbered homes. These percentages are contained in the following 
table, and the facts from which they were computed are exhibited in Table 3. 

PERCENTAGE OF FAMILIES OCCUPYING OWNED AND INCUMBEEED FAKMS AND HOMES 
AND OF AMOUNT OF INCUMBRANCE THEREON, BY RATES OP INTEREST. 



RATES OF INTEREST. 



Under 6 per cent 

6 per cent 

7 per cent 

8 per cent 

6 to 8 per cent, inclu 

Over 6 per cent 

Over 8 per cent 

Over 10 per cent 

Over 12 per cent 



For num- 
ber of 
families. 



For 
amount. 



6.15 
91.68 



2.17 
0.16 
0.05 
0.02 



8.27 
90.07 
0.70 
0.19 
91.59 
1.66 
O.U 
0.04 



For num- 
ber of 
families. 



93.72 
1.21 
0.21 

95.81 
2.20 
O.U 
0.04 
0.02 



7.37 
• 90.72 
0.75 
0.16 
92.58 
1.91 
0.05 
0.01 



FOR HOMES IN 

CITIES OF 8,000 TO 

100,000 PEOPLE. 



For num- j 

ber of I 

families. { ^ 



3.94 
93.52 
1.00 
0.27 
95.99 
2.54 
0.07 
0.07 
0.07 



92.15 
0.63 
0.23 

94.64 
2.49 



Eates that are less than the principal state rate of 6 per cent are paid by 6.15 per cent of the farm debtor 
families on 8.27 per cent of the farm debt; by 4.08 per cent of the home debtor families on 7.37 per cent of the 
home debt ; in the 5 cities by 3.94 per cent of the home debtor families on 5.36 per cent of the home debt. 

In the state, rates higher than 6 per cent are paid by 2.17 per cent of the farm debtor families on 1.66 per 
cent of the farm debt; by 2.20 per cent of the home debtor families on 1.91 per cent of the home debt; in the 5 
cities by 2.54 per cent of the home debtor families on 2.49 per cent of the home debt. 

The highest rate reported is 18 per cent, which is paid by 1 home family on a debt of $70. 

The legislature of New Hampshire limited the rate of interest to 6 per cent in 1791, and the limit has not 
been changed since that year. 

Interest charge and average rates of interest. — The total interest charge for 1 year on the debt 
incumbering the owned farms of the state is $249,485 ; on the homes, $298,518 ; total, $548,003. 

The average interest charge for 1 year on each farm is $44 ; home, $52 ; on each home in the 5 cities, $72. 

On farm loans the average rate of interest is 5.91 per cent ; on home loans, 5.92 per cent ; on home loans in the 
5 cities, 5.95 per cent. Hence the average annual interest value of each owned and incumbered farm in this state 
is $115 ; of each home, $138 ; of each home in the 5 cities, $194. Outside of the 5 cities the average annual interest 
charge on each home is $45; average rate, 5.90 per cent; average annual interest value, $119. 

Objects of indebtedness. — Investigation of the reasons why farm and home indebtedness was incurred 
discloses the fact that 79.42 per cent of the farm debtor families of the state incurred 80.14 per cent of the farm 
debt for the purpose of buying real estate and making real estate improvements, when these objects were not 
associated with other objects, and that for the same objects, in the case of homes, 81.15 per cent of the home debtor 
families incurred 79.81 per cent of the home debt; in the 5 cities that 81.36 per cent of tlie home debtor families 
incurred 78.61 per cent of the home debt. 

The objects of real estate purchase and improvements, business, and the purchase of personal property, when 
not complicated with other objects, led 84.65 per cent of the farm debtor families of the state to incur 85.93 per 
cent of the farm debt; 89.29 per cent of the home debtor families to incur 92.40 per cent of the home debt; 91.12 per 
cent of the home debtor families in the 5 cities to incur 93.79 per cent of the home debt. 

Farm and family expenses, standing alone, are represented by 6.98 per cent of the farm debtor families of the 
state and 4.04 per cent of the farm debt; family expenses by 5.52 per cent of the home debtor families and 2.56 
per cent of the home debt; family expenses in the 5 cities by 4.27 per cent of the home debtor families and 1.S9 per 
cent of the home debt. 



OWNERSHIP AND DEBT IN NEW HAMPSHIRE. 5 

Table 1.— NUMBER AND PERCENTAGE OF FAMILIES OCCUPYING OWNED AND HIRED AND FREE AND INCUMBERED 

FARM6 AND HOMES. 



CIVIL DIVISIONS. 


Aggregate. 


OWNING. 


Hiring. 


PERCENTAGE OF 

FAMILIES OWNING 

AND HIKING. 


1! 

ti PERCENTAGE OF 

BERED OF TOTAL ^^^^^Z^^" 
OWNING FAMILIES. , ^,^,^^ FAMILIES. 

r 




Total. 


Free. 


Incum- 
bered. 


Owning. 


Hiring. 


Free. 


Incum- 
bered. 


Free. 


Incum- 
bered. 




87,348 
29,151 


48,822 


37,381 


11,441 


38,526 


55.89 


44.11 


76.57 


23.43 


42.79 










25,969 
22,853 


. 20,310 
17,071 


5,659 
5,782 


3,182 
35,344 


89.08 
39.27 


10.92 
60.73 


78.21 
74.70 


21.79 
25.30 


69.67 
29.33 






58,197 












20,868 


1 6,055 


4,558 


1,497 


14,813 


29.02 


70.98 


75.28 


24.72 


21.84 


7.18 






3,675 
2,671 
8,339 
3,992 
2,191 


' 1,535 
806 

' 1,777 

1,196 

741 


1,186 
637 

1,226 
873 
636 


349 
169 
551 
323 
105 


2,140 
1,865 
6,562 
2,796 
1,450 


41.77 


58.23 


' 77.26 
79.03 
68.99 
72.99 
85.83 

74.49 


22.74 
20.97 
31.01 
27.01 
14.17 

25.51 


32.27 
23.85 
14.70 
21.87 
29.03 


9.50 






21.31 78.69 
29.96 70.04 
33.82 66.18 


6.61 
8.09 
4.79 




Portsmouth, Rockingham county 


Rest of state (for homes) 


37,329 


16,798 


12,513 


4,285 


20,531 


45.00 55.00 


33.52 


11.48 



Table 2. 



-VALUE OF FARMS AND HOMES OCCUPIED BY OWNERS AND INCUMBERED 
AND AMOUNT AND PERCENTAGE OF INCUMBRANCE THEREON. 



CIVIL DIVISIONS. 


Number 

of families 

owning 

with 

brance. 


Value. 


Incumbrance. 


Per- 
centage 

of incum- 
brance 

of value. 




11,441 


$24,482,907 


$9,264,183 


37.84 




5,659 

5,782 


10,976,087 
13,506,820 


4,219,278 
5,044,905 


38.44 
37.35 






1,497 


4,874,757 


1,804,324 


37.01 




319 
169 


940,866 

469,296 

2,017,222 

1,090,661 

326,712 


338,572 
188,271 
749,614 
386,165 
141,702 


35.99 
40.12 
36.62 
35.41 
43.87 






Nashua, Hillsboro county 

Portsmouth, Rockingham county 


323 
105 

4,285 


Rest of State (for homes) 


8,632,063 


3,240,581 


37.54 



FARMS, HOMES, AND MORTGAGES. 



Table 3.~SUMMARY OF NUMBER OF FAMILIES OCCUPYING OWNED AND INCUMBERED FARMS AND HOMES AND OF 
THE INCUMBRANCE THEREON, BY RATES OF INTEREST. 



[Rates of interest represented by mixed nu 



libers are combined into groups; for instance, rates represented by "1-2" percent include all rates 
greater than 1 per cent and less than 2 per cent.] 





RATES OF INTEREST. 


THE STATE. 


FOR HOMES IN CITIES OF 




Total. 


For farms. 


For homes. 


8,000 TO 100,000 PEOPLE. 




Number of 
families. 


Incum- 
brance. 


Number of 
families. 


Incum- 
brance. 


Number of 
families. 


Incum- 
brance. 


Number of 
families. 


brance. 






11,441 


$9,264,183 


5,659 


, 84,219,278 


5,782 


$5,044,905 


1,497 


$1,804,324 









67 
1 
2 
1 

53 

9 

380 

71 
10,607 

53 
133 

12 

37 
4 
6 
1 
2 
1 
1 


47,912 

700 

1,100 

125 

52,075 

19,955 

477,693 

121,368 

8,377,086 

65,451 

67,140 

9,087 

15,891 

2,350 

4,010 

600 

1,470 

100 

70 


33 

1 


22,872 
700 


34 


25,040 


4 


6,900 


1-?. 


do 


a 


do 


2 
1 
23 
3 


1,100 
125 

29,328 


1 




S-4 


do 








4 


do 


30 
6 
234 
44 
5,188 
21 
61 

2^ 
3 

: 

1 


22,747 

3,255 

232,068 

67,482 

3,800,145 

21.723 

29,431 

4,787 

7,958 

1.550 

2,860 

600 

1,000 

100 


6 


11,402 


4-5 


do 


5 


do 


146 245,625 


37 
11 
1,400 
16 
15 
2 
4 


49,477 
28,618 
1,662,779 
28,101 
11,296 
1,200 
4,181 


5-6 


do 


fi 


do 


5,419 
32 
72 
5 
12 
1 
3 


4,576,941 

43,728 
37,709 
4,300 
7,933 
800 
1,150 


fi-7 


do 


7 


do 


7-R 


do 


R 


do 


9 


do 


10 


do 






11 


do 






n 


do 


.1 


470 






14 


do 






18 


do 


1 


70 


1 


70 











Table -4 — AMOUNT OF ANNUAL INTEREST CHARGE AND AVERAGE VALUE, IN- 
CUMBRANCE, ANNUAL INTEREST CHARGE, AND ANNUAL RATE OF INTEREST 
FOR FARMS AND HOMES OCCUPIED BY OWNERS AND INCUMBERED. 



CIVIL DIVISIONS. 



Average 
value of 
each in- 
cumbered 

home 



Total 
annual 
interest 
charge. 



Average : 
I annual 
interest 
charge on ' 
each farm 
* home. 



rate of 
interest. 



The State 

For farms 1,940 

For homes 2,336 

I 

Five cities (for homes) , 3,256 \ 1,205 

Concord, Merrimack county 2,696 970 

Dover, Strafford county 2,777 1,114 

Manchester, Hillsboro county I 3,715 1,360 

Nashua, Hillsbovo county | 3,377 1,196 

Portsmouth, Rockingham county , 3,112 1,350 

Rest of state (for homes) i 2,014 756 



249,485 
298,518 



20,240 
11,332 
44,283 



6.02 
5.91 
5.98 
5.92 



DEC 19 'P'