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Full text of "Extra census bulletin"

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*MA20I . I^90.A2^ 



Apr. 1^92 
^V\Auq. IB94 




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Digitized by the Internet Archive 

in 2010 with funding from 

Boston Public Library 



http://www.archive.org/details/extracensusbulle55unit 



Extra Census Bulletin. 

No. 55. VV^ASHINGTON, D. C. August 31, 1893. 



STATISTICS OF FARMS, HOMES,' AND MORTGAGES. 

MORTGAGES IN FLORIDA. 



DEPARTMENT OF THE INTERIOR, 

Census Office, 
Washington, D. C, August 9, 1893. 
Sir: 

The real estate mortgage movement iu Florida was a progi-essive one from 1880 to 1886. In the former year a 
debt of $743,673 was incurred, and in the latter one, $5,732,489; then there was a decline to $5,302,985 in 1887, and 
a still further decline to $4,605,957 in 1888, after which the tendency was reversed and a debt of $4,898,097 was 
incurred in 1889. 

During the 10 year period a debt of $37,349,078 was incurred, represented by 41,957 mortgages; 58.22 per cent 
of the debt was on acre tracts and 41.78 per cent on lots. 

The real estate mortgage debt existing January 1, 1890, is $15,505,119, of which $10,629,142, or 68.55 per cent, 
is on acres and $4,875,977, or 31.45 per cent, is on lots. No county has a debt as large as $2,000,000. Duval 
county, containing Jacksonville, leads, with an existing debt of $1,432,760. 

Florida has a per capita debt of $40. "While this ratio would be low in the east and west, it is high for the 
south, probably owing to the considerable ownership of mortgaged real estate by nonresidents. The following 
comparative statement is made : 



Alabama $20 

Arkansas 13 

Colorado 206 

Connecticut 107 

Florida 40 

Illinois 100 

Indiana 51 

Iowa 104 

Kansas 170 

Maine 49 

Massachusetts 144 



Minnesota §152 

Missouri 60 

Nebraska 1 26 

New Hampshire 50 

New York 268 

Oregon 7'i 

Pennsylvania : 117 

Ehode Island 106 

Tennessee 2:5 

Vermont 84 

Wisconsin 72 



I 



In the ratio between the debt and the estimated true value of all taxed real estate Florida is represented by 
9.86 per cent, and compares with other states as is shown below : 

PER CENT. PER CENT. 

Alabama 10.96 i Minnesota 18.83 

Arkansas 7.34 Missouri 16.15 

Colorado 14.75 Nebraska 24.58 

Connecticut 20.14 New Hampshire 11 . 68 

Florida 9.86 i New York 28.17 

Illinois 14.06 | Oregon 8.11 

Indiana 9.79 Pennsylvania 18.91 

Iowa 17.61 Ehode Island 12.13 

Kansas 28.13 Tennessee 8.67 

Maine 13.28 I Vermont 19.21 

Massachusetts 19.42 | Wisconsin 12.46 

The acres covered by existing mortgages are 9.76 per cent of the number of taxed acres in the state, and of 
the number of taxed lots 17,366 are covered by the exi.sting mortgages. 

Very respectfully, 

JAMES H. WARDLE, 

Acting Superintendent of Census. 
The Secretary of the Interior. 

C. O. P.-3,50O 



STATISTICS OF FARMS, HOMES, A^'D MORTGAGES. 

MORTGAGES IN FLORIDA. 



BY GEORGE K. HOLMES AND JOHN S. LORD. 



THE EEAL ESTATE MORTGAGES OF 10 YEARS. 

Florida exhibits a mortgage movement whose progressive tendency is found in the increase from 1880 to 1886. 
Table 1 shows that during the decade ending December 31, 1889, the real estate mortgages mentioning the amount 
of debt secured numbered 41,957 and represented an incurred debt of $37,349,078. The amount of debt incurred 
in 1880 was §743,673 ; in 1886, $5,732,489 ; from which there was a decline, on the whole, to $4,898,097 in 1889. 
The 82 mortgages made 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. 

In 1880, 1,014 mortgages stating amount of debt were made and 5,176 in 1889. The number of mortgages 
made in 1889 gained 410.45 per cent upon those made in 1880 ; the amount of debt incurred, 558.64 per cent. 
During the 10 years precediug June 1, 1890, the population of the state increased 45.24 per cent. 

Mortgages on acres. — A debt of $21,745,702 was placed on acre tracts during the 10 years, or 58.22 per cent 
of the total for acre tracts and lots, and this amount was represented by 25,610 mortgages, or 61.04 per cent of the 
total number. In the annual amount of mortgages on acres there were fluctuations, but on the whole the incurred 
acre debt increased from $424,420 in 1880 to $2,687,522 in 1889. The acre mortgages numbered 646 in 1880 and 
increased to 2,905 in 1889. 

Mortgages on lots. — Of the total amount of real estate mortgage debt incurred during the 10 years 
$15,603,376. or 41.78 per cent, incumbered lots. The amount incurred in 1880 was $319,253; in 1889 it was 
82,210,575, but higher amounts were reached in 1886, 1887, and 1888. The gain in number of mortgages in 1889 
over those of 18S0 was 517.12 per cent; in amount of incurred debt, 592.42 per cent. 

Number of acres and lots covered. — During the 10 years 6,23.3,611 acres were incumbered by 25,679 
mortgages stating and not stating amount of debt. In 1880 the number of acres incumbered was 132,985, and the 
number rose to 562,810 in 1889; but the number was slightly greater in 1885, 1886, and 1888, while in 18S3, 2,368,691 
acres were mortgaged. Lots to the number of 40,634 were incumbered during the decade by 16,360 mortgages 
stating and not stating amount of debt; 708 in 1880, 6,515 in 1889, and this year was exceeded only by the lots 
mortgaged in 1887, when 8,070 lots were mortgaged. Increase of 1889 over 1880, 820.20 per cent. 

Averages. — The average amount of each mortgage on acres made in the state during the decade was $849; on 
lots, $955. Each mortgage on acres covered 243 acres on the average; each mortgage on lots covered 2.48 lots; 
mortgages not stating amount of debt are included in these averages. A debt of $3.50 was placed on each 
mortgaged acre on the average ; of §384 on each mortgaged lot. 

EXISTING INDEBTEDNESS. 

Table 2 shows that the existing mortgage debt of Florida is $15,505,119, of which $10,629,142, or 68.55 per 
cent, is on acres and $4,875,977, or 31.45 per cent, is on lots. Of the 20,681 mortgages in force, 14,094, or 68.15 per 
cent, are on acres and 6,587, or 31.85 per cent, are on lots. Mortgages in force cover 2,329,359 acres and 17,366 
lots. Mortgages have an average life of 3.529 years ; on acres, 4.274 years ; on lots, 2.685 years. The partial 

3 



4 FAEMS, HOMES, AND MORTGAGES. 

payments adopted for this state are 7.64 per cent of the face of the existing mortgages on acres; 22.97 per cent 

on lots ; total, 13. OS per cent. 

Some derived results that have been obtained follow : 

Percentage of estimated true value of all taxed real estate represented by the debt in force 9.86 

Percentage of estimated true value of all taxed acres represented by the debt in force against acres 10.81 

Percentage of estimated true value of all taxed lots represented by the debt in force against lots 8.27 

Percentage of the total number of taxed acres represented by the number of mortgaged acres 9.76 

Average amount of debt in force per assessed acre $0.45 

Average amount of debt in force per mortgaged acre $4.56 

Average value of each assessed acre §4.12 

Average number of acres covered by each mortgage in force against acres 165 

Average amount of debt to each mortgage in force §750 

Average amount of debt to each mortgage in force against acres S~54 

Average amount of debt to each mortgage in force against lots §740 

Average estimated true value of acre real estate covered by each mortgage in force against acres §680 

Per capita existing debt $40 

Table 1.— 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 debt actually in force, because many have been paid.] 



MORTGAGES STATING AMOUNT OF DEBT. 



Number. Amount. ■ Number. Amount. Number. Amount. 



$37,349,078 l| 25,610 



1,406,- 
1,872,' 
4,131,1 
4,018,1 
4,63o,' 
5,732,. 



1,436 
2,407 
3,315 
3,621 
3,865 
3,319 
3,013 
2,905 



821,745,702 16,347 



424,420 
833,112 
1,239,087 
3,146,554 
2,529,633 
2,842,692 1 
3,107,584 ' 
2,592,514 
2,342,484 I 
2,687,522 I 



571 
754 
1,015 
1,584 
1,917 
2,610 
2,891 
2,336 
2,271 



319,2.53 

573,677 

633,629 

985,332 

1,489,060 

1,793,101 

2,624,805 

2,710,471 

2.263,473 

2,210,575 



NUMBER OF ACRES MORTGAGED 



Total. I stated. Estimated. 



6,233,611 I 6,077,467 156,144 



132,985 
163,057 
294,772 
2,368,691 
517,659 
582,998 
586,360 
403,142 
621,137 
562,810 



128,023 
151,536 
286,862 
2,354,109 
509,074 
560,624 
562,021 
383,071 
596,876 
545,271 



4,962 
11,521 

7,910 
14,582 

8,585 
22,374 
24,3.39 
20,071 
24,261 
17,539 



Number 
of lots 
mort^ 



1,780 
3,152 
2,999 



5,335 
6,515 



NUMBER OF MORT- 
GAGES NOT STATING 
DEBT. 



On I On 
acres, lots. 



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



COUNTIES. 



-Uachua..., 

Baker 

Bradford . 
Brevard... 
Calhoun... 



Citrus 

Clay 

Columbia.. 

Dade 

De Soto 



Duval 

Bscambia.. 
Franklin .. 
Gadsden... 
Hamilton.. 
Hernando. 

Hillsboro.. 
Holmes. ... 
Jackson ... 
Jefferson.. 
Lafayette.. 
Lake 



312,296 

1,432,760 
798,920 
114,687 
64,244 
87.948 
128,281 

1,056.769 
43,974 
114,741 
101,410 
76,587 
1,125,828 



517,641 
75,016 
204.816 
482,949 
30,407 

144,119 
167,425 
173,004 
42,057 
245,167 

311,012 
100,313 
102,140 
55,526 
80,537 
116,244 

790,569 
42,903 

102,248 

87,015 

76,587 

1,024,257 



5,222 
49,124 
41,910 



COUNTIES. 



Lee 

Leon 

Levy 

Liberty 

Madison 

Manatee 

Marion 

Monroe 

Nassau 

Orange 

Osceola 

Pasco 

Polk 

Putnam 

St. John 

Santa Rosa- 
Sumter 

Suwannee.... 
Taylor 

Volusia 

Wakulla 

Walton 

Washington 



152,884 
777,704 
943,357 
615,631 

83,061 
318,249 
167,690 

40,180 



S87,463 
128.230 
83,682 
61,708 
167,439 

92,579 
1,065,736 
26,164 
53,69.> 
734,788 

214.871 
146,579 
560,177 
521,253 
204,262 



785,015 
57,560 
28,800 
81,649 



840,138 
29,901 
3,040 



9,409 

15,049 
186,043 
317,349 

63,766 
162,707 

55,462 

6,305 

217,527 



71,741 


11,320 


292,894 


25,355 


160,725 


6,965 


40.180 





225,960 

96 

38,708 

10,002