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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
0
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
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