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Full text of "Extra census bulletin"

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Apr. I892J 
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Extra Census Bulletin. 



No. 52. WASHINGTON, D. c. August 16, 1893. 

STATISTICS OF FARMS, HOMES, AND MORTGAGES. 

OWNERSHIP AND DEBT IN MINNESOTA. 



DEPARTMENT OF THE INTERIOR, 

Census Office, 
Washington, D. C, August 8, 1893. 
Sir : 

The leading results of the investigation of farm and home proprietorship in Minnesota are contained in this 
bulletin. In regard to farms, the conclusion is that 15.25 per cent of the farm families hire and 84.75 per cent own 
the farms cultivated by them; that 46.39 per cent of the farm owning families own subject to incumbrance and 
53.61 per cent own free of incumbrance. Among 100 farm families, 15 hire their farms, 39 own with incumbrance, 
and 46 without incumbrance. On the owned farms there are liens amounting to $37,709,574, which is 31.61 per 
cent of their value, and this debt bears interest at the average rate of 8.18 per cent, making the average annual 
interest charge $67 to each family. Each owned and incumbered farm, on the average, is worth $2,574, and is 
subject to a debt of $814. 

The corresponding facts for homes are that 53.01 per cent of the home families hire aud 46.99 per cent own 
their homes; that of the home owning families 63.94 per cent own free of incumbrance and 36.06 per cent with 
incumbrance. In 100 home families, on the average, 53 hire their homes, 17 own with incumbrance, and 30 
without incumbrance. The debt on owmed homes aggregates $27,953,413, or 34.36 per cent of their value, and bears 
interest at the average rate of 7.42 per cent, so that the annual amount of interest to each home averages $94. An 
average debt of $1,268 incumbers each home, which has the average value of $3,692. 

There are 4 cities in the state in the class of those having a population of 8,000 to 100,000, and in these 
cities 51.46 per cent of the home families hire and 48.54 per cent own their homes, and of the home owning families 
28.61 per cent own with incumbrance and 71.39 per cent own free of incumbrance. In 100 home families, on the 
average, are found 51 that hire their homes, 14 that own with incumbrance, and 35 that own without incumbrance. 
The liens on the owned homes are 29.82 per cent of the value of those subject to lien. Several averages show 
that the rate of interest is 7.55 per cent ; value of each owned and incumbered home, $3,634 ; lien on the same, 
$1,084, and yearly interest charge on each home, $82. 

In Minneapolis and St. Paul, which are the only cities in the state having a population of more than 100,000, 
64.89 per cent of the home families hire and 35.11 per cent own their homes; 52.43 per cent of the home owning 
families have incumbrance on their homes, and 47.57 per cent own and occupy homes free of incumbrance. Among 
100 families, on the average, 65 hire, 18 own with incumbrance, and 17 without incumbrance. Averages for each 
owned and incumbered home: incumbrance, $1,861; value, $5,232; interest charge for one year, $133; rate of 
interest, 7.16 per cent. Homes are incumbered for 35.57 per cent of their value. 

Real estate purchase and improvements, w r hen not associated with other objects, caused 65.99 per cent of the 
farm families to incur 68.11 per cent of the farm debt and 82.07 per cent of the home families to incur 81.70 per 
cent of the home debt. 

Very respectfully, 

JAMES H. WARDLE, 

Acting Superintendent of Census. 
The Secretary of the Interior. 

c. o. P.— 3,500 



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STATISTICS OF FARMS, HOMES, AND MORTGAGES. 

OWNERSHIP AND DEBT IN MINNESOTA. 



BY liEOKGE K. HOLMES AND JOHN S. LORD. 



Selections from the results of the investigation of farm and home proprietorship and indebtedness in Minnesota 
are presented in this bulletin. Every family 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, and in no other, account has been taken of the incumbrance, its rate of interest and object, and the value of 
the farm or home. 

Habitation proprietorship. — Among the 247,975 families of the state there are 86,944, or 35.06 per cent of 
the total, which hire their farms and homes, and 161,031, or 64.94 per cent, which own them. Of the families which 
own, 68,385, or 42.47 per cent, have farm or home incumbrance, and 92,646, or 57.53 per cent, are free of incumbrance. 
In 100 families, on the average, 35.06 hire their farms or homes, 27.58 own with incumbrance, and 37.36 own 
without incumbrance. 

Farm proprietorship. — There are 117,893 farm families, which are 47.54 per cent of the total number of 
families! Of these, 99,911, or 84.75 per cent, own and 17,982, or 15.25 per cent, hire the farms cultivated by them, 
while of the owning families 46,347, or 46.39 per cent, have incumbrances on their farms and 53,564, or 53.61 per 
cent, have no incumbrances. The average 100 farm families are composed of 15.25 that hire, 39.31 that own with 
incumbrance, and 45.44 that own without incumbrance. 

In 1880, 9.15 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 18S0 and 1890 are not the same, since the figures for 1880 
represent farms and those for 1890 farm families, and this may somewhat affect the comparison. 

Home proprietorship. — The 130,082 home families are 52.46 per cent of the families of the state, and are 
divided into the several classes as follows: hiring families, 68,962, or 53.01 per cent of the total number of home 
families; owning families, 61,120, or 46.99 per cent; families owning free of incumbrance, 39,082, or 63.94 per cent 
of the total number owning; families owning subject to incumbrance, 22,038, or 36.06 per cent of the owning 
families. Of 100 home families, on the average, 53.01 hire their homes, 16.94 own with incumbrance, and 30.05 own 
without incumbrance. 

City homes are hired in a greater degree than is found outside of cities. In the 4 cities of the state having 
a population of 8,000 to 100,000 there are 12,321 home families, of which 6,341, or 51.46 per cent, hire and 5,980, 
or 48.54 per cent, own their homes. Homes subject to incumbrance are occupied by 1,711 owning families, or 
28.61 per cent of the total owning families, and 4,269 families, or 71.39 per cent of the owning families, have no 
home incumbrance. In 100 of these city home families, on the average, 51.46 hire their homes, 13.89 own with 
incumbrance, and 34.65 own without incumbrance. In Duluth 63.93 per cent of the home families hire their homes, 
and this is the largest percentage found among the 4 cities. Stillwater comes next, with 48.21 per cent. The 
smallest percentage is 38.33 for Mankato, and next to this is 43.23 for Winona. 

Minneapolis has a population of 164,738, and St. Paul of 133,156, and these are the only cities having a 
population greater than 100,000. Of the 32,750 home families of Minneapolis, 22,552, or 68.86 per cent, hire 
their homes and 10,198, or 31.14 per cent, own their homes. Of the owning families, 4,715, or 46.23 per cent, have 
no incumbrance on their homes and 5,483, or 53.77 per cent, own subject to incumbrance. Among 100 families, on 
the average, 68.86 hire their homes, 14.40 own free of incumbrance, and 16.74 own with incumbrance. The smallest 
degree of home owniug is found in ward 5, where 21.94 families in 100 own their homes, and the highest is found 
in ward 12, where the owning families are 55.85 in 100. 

In St. Paul 15,328 of the 25,630 home families, or 59.80 per cent, hire their homes, and 10,302, or 40.20 per 
cent, own their homes. Of the owning families, 5,037, or 48.89 per cent, have no incumbrance on their homes, and 
5,265, or 51.11 per cent, own subject to incumbrance. Among 100 families, on the average, 59.80 hire their homes, 
19.66 own free of incumbrance, and 20.54 own with incumbrance. The smallest degree of home owning is found in 
ward 4, where 12.56 families in 100 own their homes, and the highest is found in ward 11, where the owning 
families are 57.33 in 100. 

52—2 3 



FARMS, HOMES, AND MORTGAGES. 



In the state outside of the 6 cities referred to, 41.66 per cent of the home families hire and 58.34 per cent own 
their homes, 27.65 per cent of the home owning families own with incumbrance and 72.35 per cent without 
incumbrance, while among 100 home families, on the average, 41.66 hire their homes, 16.13 own subject to 
incumbrance, and 42.21 own free of incumbrance. 

Value and incumbrance. — Liens amounting to $65,662,987 incumber the 68,385 owned farms and homes of 
the state that are subject to incumbrance, $37,709,574 of which is on 46,347 farms and $27,953,413 on 22,038 homes. 
The value of the incumbered farms and homes is $200,647,232; farms, $119,290,539 ; homes, $81,356,693. Eatios of 
debt to value : farms and homes, 32.73 per cent; farms, 31.61 per cent ; homes, 34.36 per cent. 

A debt of $1,854,397 incumbers 1,711 owned homes of the 4 cities containing a population of 8,000 to 100,000, 
and these incumbered homes are worth $6,217,799, so that the debt is 29.82 per cent of the value. The 5,483 
owned and incumbered homes of Minneapolis are worth $28,689,073, and are incumbered with a debt of $10,275,607, 
or to the extent of 35.82 per cent of their value. In St. Paul the homes of this class are worth $27,548,704, the 
incumbrance on them is $9,725,410, which is 35.30 per cent of their value. The debt incumbering the owned 
homes in the state outside of the 6 cities is 32.26 per cent of the value of the homes subject to the incumbrance. 

Average values and incumbrances. — The average owned and incumbered farm of the state is worth $2,574 ; 
home $3,692 ; of each home in the 4 cities. $3,634 ; of each home in Minneapolis, $5,232; in St. Paul, $5,232. 

The average farm incumbrance for the state is $814; home, $1,26S ; home incumbrance in the 4 cities, $1,084 ; 
in Minneapolis, $1,874; in St. Paul, $1,847. 

St. Louis county has homes of the highest average value, namely, $5,327, and the least average value, $503, is 
in Itasca county. In the state outside of the 6 cities the average home value is $1,973; incumbrance, $637. As 
before stated, all values are confined to incumbered farms and homes occupied by owners. 

Interest rates. — The principal rate of interest in this state is 8 per cent. This rate is paid on 31.49 per cent 
of the farm incumbrance by 29.79 per cent of the farm debtor families ; on 34.16 per cent of the home incumbrance 
by 45.63 per cent of the home debtor families; in the 4 cities on 43.66 per cent of the home incumbrance by 58.09 
per cent of the families occupying owned and incumbered homes; in Minneapolis and St. Paul on 31.99 per cent of 
the home debt by 52.14 per cent of the home debtor families. 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 INCUMBERED FARMS AND HOMES AND AMOUNT OF 
INCUMBRANCE THEREON, BY RATES OF INTEREST. 



HATES OF 1NTE 



THE STATE. 



For Dumber 
of families. 



Under 6 per cent 

6 per cent 

7 per cent 

8 per cent 

6 to 8 per cent, inclusive.. 

Over 6 per cent 

Over 8 per cent 

Over 10 per cent 

Over 12 per cent 



3.27 

2.67 
15.99 
29.79 
52.19 
91.06 
44.54 
1.37 
0.59 



For 
amount. 



2.72 
3.48 
19.33 
31.49 
61.07 
93.80 
36.21 
1.47 
0.58 



For number 
of families. 



7.59 

19.97 
45.63 

77.18 
91.41 
21.82 
0.89 
0.32 



0.79 

16.79 
26.17 
34.16 
89.20 
82.42 
10.01 
0.50 
0.21 



FOR HOMES IN CITIES 

OF 8,000 TO 100,000 

PEOPLE. 



For 
amount. 



FOR HOMES IN 

MINNEAPOLIS AND 

ST. PAUL. 



0.58 
6.02 
16.72 
58.09 
83.40 
93.40 
16.02 
0.82 



0.26 
11.33 
25.91 
43.66 
90.43 
88.41 
9.31 
0.45 
0.26 



0.56 
10.51 
25.88 
52.14 
94.74 
88.93 
4.70 
0.60 
0.22 



0.59 
20.81 
29.03 
31.99 
96.67 
78.60 

2.74 



Rates that are less than the principal state rate of 8 per cent are paid by 25.67 per cent of the farm debtor 
families on 32.30 per cent of the farm debt, by 32.55 per cent of the home debtor families on 55.83 per cent of the 
home debt; in the 4 cities by 25.89 per cent of the home debtor families on 47.03 per cent of the home debt, and in 
Minneapolis and St. Paul by 43.16 per cent of the home debtor families on 65.27 per cent of the home debt. 

In the state, rates higher than 8 per cent are paid by 44.54 per cent of the farm debtor families on 36.21 per 
cent of the farm debt, by 21.82 per cent of the home debtor families on 10.01 per cent of the home debt; in the 
4 cities by 16.02 per cent of the home debtor families on 9.31 per cent of the home debt, and in St. Paul and 
Minneapolis by 4.70 per cent of the home debtor families on 2.74 per cent of the home debt. 

The highest rate reported is 50 per cent, w r hich is paid by 1 home family on a debt of $500. 

The legislature of Minnesota has limited the rate of interest as follows in the years named : 1851, no limit ; 
1858, 15 per cent for banks on secured loans; 1860, 12 per cent; 1879, 10 per cent, but no limit for building and 
loan associations. 



OWNERSHIP AND DEBT IN MINNESOTA. 5 

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 $3,085,913, on the homes, $2,074,436 ; total, $5,160,349. 

The average interest charge for 1 year on each farm is $67 ; home, $94 ; on each home in the 4 cities, $82 ; 
on each home in Minneapolis and St. Paul, $133. 

On farm loans the average rate of interest is 8.18 per cent ; on home loans, 7.42 per cent ; on home loans in the 
4 cities, 7.55 per cent; on home loans in Minneapolis and St. Paul, 7.16 per cent. Hence, the average annual 
interest value of each owned and incumbered farm in this state is $211 ; of each home, $274 ; of each home in the 
4 cities, $274 ; of each home in Minneapolis and St. Paul, $375. Outside of the 6 cities the average annual interest 
charge on each home is $52 ; average rate, 8.24 per cent ; average annual interest value, $163. 

Objects of indebtedness. — Investigation of the reasons why farm and home indebtedness was incurred 
discloses the fact that 65.99 per cent of the farm debtor families of the state incurred 68.11 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, 82.07 per cent of the home 
debtor families incurred 81.70 per cent of the home debt ; in the 4 cities that 83.34 per cent of the home debtor 
families incurred 86.97 per cent of the home debt, and in Minneapolis and St. Paul that 85.88 per cent of the home 
debtor families incurred 83.43 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 78.64 per cent of the farm debtor families of the state to incur 79.86 per 
cent of the farm debt, 91.04 per cent of the home debtor families to incur 92.23 per cent of the home debt, 90.88 
per cent of the home debtor families in the 4 cities to incur 95.25 per cent of the home debt, and 93.31 per cent of 
the home debtor families in Minneapolis and St. Paul to incur 92.71 per cent of the home debt. 

Farm and family expenses, standing alone, are represented by 6.16 per cent of the farm debtor families of the 
state and 4.09 per cent of the farm debt; family expenses by 3.92 per cent of the home debtor families and 1.87 
per cent of the home debt; family expenses in the 4 cities by 5.09 per cent of the home debtor families and 
1.7S per cent of the home debt, and in Minneapolis and St. Paul by 2.24 per cent of the home debtor families 
and 1.38 per cent of the home debt. 

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

FARMS AND HOMES. 



CIVIL DIVISIONS. 


Aggregate 


OWNING. 


Hiring. 


PERCENTAGE OF FAM- 
ILIES OWNING AND 
HIRING. 


PERCENTAGE OF FAM- 
ILIES OWNING FREE 
AND INCUMBERED OF 
TOTAL OWNING 
FAMILIES. 


PERCENTAGE OF FAM- 
ILIES OWNING FREE 

AND INCUMBERED OF 
TOTAL OWNING AND 
HIRING FAMILIES. 






Total. 


Free. 


Incum- 
bered. 


Owning. 


Hiring. 


Free. 


Incum- 
bered. 


Free. 


Incum- 
bered. 




247,975 


161,031 


92,646 


68,385 


86,944 


64.94 


35.06 


57.53 


42.47 


37.36 


27.58 






117,893 
130,082 


99,911 
61,120 


53,564 
39,082 


46,347 
22,038 


17,982 
68.962 

37,880 


84.75 
46.99 

35.11 


15.25 
53.01 

64.89 


53.61 
63.94 

47.57 


46.39 
36.06 

52.43 


45.44 

30.05 

16.70 


39.31 
16.94 








58,380 


20,500 


9,752 


10,748 




Minneapolis and St. Paul (for 


18.41 


Minneapolis, Hennepin county. 


32,750 
25,630 


10,198 
10,302 


4,715 
5,037 


5,483 
5,265 

1,711 


22,552 
15,328 

6,341 


31.14 
40.20 


68.86 
59.80 


46.23 
48.89 


53.77 
51.11 


14.40 
19.66 


16.74 
20.54 






12,321 


5,980 


4,269 






48.54 


51.46 


71.39 


28.61 


34.65 


13.89 






4,818 
1,753 
2,070 
3,680 


1,738 
1,081 
1,072 
2.089 


1,104 

845 

874 

1,446 


634 
236 
198 
643 


3,080 
672 
998 

1,591 


36.07 
61.67 
51.79 
56.77 


63.93 

38.33 
48.21 
43.23 


63.52 
78.17 
81.53 
69.22 


36.48 
21.83 
18.47 
30.78 


22.91 
48.21 
42.22 
39.30 


13.16 
13.46 
9.57 
17.47 


Mankato, Blue Earth county 

Stillwater, Washington county. 






59,381 


34,640 


25,061 


9,579 


24,741 


58.34 


41.66 


72.35 


27.65 


42.21 


16.13 





FARMS, HOMES, AND MORTGAGES. 



Table 2.— VALUE OF FARMS AND HOMES OCCUPIED BY OWNERS AND INCUMBERED 
AND AMOUNT AND PERCENTAGE OF INCUMBRANCE THEREON. 



CIVIL DIVISIONS. 


Number 
of families 

with'hf- Value - 

brance. 


Incumbrance. 


Percent- 
age of 

brance of 
value. 




68,385 


8200,647,232 


865,662.987 


32.73 








37.709.574 


31.61 
34.36 


For home' 


22.038 81,356,693 27.953,413 


Minneapolis and St. Paul (for homes) 

St. Paul, Ramsey county 


10,748 56,237,777 ] 20,001,017 


35.57 


5,483 
5,265 


28,689,073 , 10,275,607 
27,548,701 ' 9,725,410 


35.82 
35.30 


1,711 


6,217,799 1,854,397 


29.82 

29.06 ' 
24.57 
34.64 
3.3.04 


634 


3,905,938 


1,1.35,046 




19S 
643 


426,264 
1,279,235 


147,672 
422,670 






9,579 


18,901,117 


6,097,999 32.26 





OWNERSHIP AND DEBT IN MINNESOTA. 

TABLE 3.— SUMMARY OF NUMBER OF FAMILIES OCCUPYING OWNED AND INCUMBERED FARMS AND HOMES AND 
AMOUNT OF THE INCUMBRANCE THEREON, BY RATES OF INTEREST. 

[Hates of interest represented by mixed numbers are combined into groups; Cor instance, rates represented by "1-2" per cent include all rates greater than 1 p 

cent and less than 2 per cent.] 



THE STATE. 



BATES OF INTEREST 




FOR HOMES IN 
DITIES OF 8,000 TO 
100,000 PEOPLE. 



Incum- 
brance. 



939 
210,119 
113,547 
480,561 
63,269 
809,540 
15,830 
50,320 
12,428 
85,784 
650 

1,000 
1,870 



FOR HOMES IN 

MINNEAPOLIS AND 

ST. PAUL. 



Incum- 
brance. 



3,081 

3,000 

34,499 

64,242 

4,162,353 

1,737,545 

5,806,062 

1,230,826 

6,398,287 

156,266 

138,197 

15,168 

174,071 

2,442 

2.800 
25,722 
17,660 

2,500 



FARMS, HOMES, AND MORTGAGES. 



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



Average 
value of 
each in- 
civil divisions. cumbered 
farm or 
home. 


Average 
incum- 

each farm 
or home. 


Average 
annual in- 
Total an- terest 

nual inter- charge on 

est charge. each ferm 

or home. 


Average 
annual 
rate of 
interest. 




82,934 


8960 


85,160,349 : 875 


7.86 






2,574 
3,692 


814 
1,268 


3,085,913 
2,074,436 


67 
94 


8.18 
7.42 


F r horn s 




Minneapolis and St. Paul (for homes) 

Duluth, St. Louis county 


5,232 


1 ,861 


1,431,933 


133 


7.16 


5,232 
5,232 


1,874 
1,847 


738,102 
693,831 


135 
132 


7.18 
7.13 


3,634 


1,084 


140,058 82 


7.55 


6,161 


1,790 
631 


83,386 i 132 
11,798 50 
12,174 61 
32,700 51 


7.35 
7.92 
8.24 
7.74 


Stillwater, Washington county 


2,153 746 












1,973 


637 


502,445 


52 


8.24