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EXTRA CENSUS BULLETIN.

VES EINGEON DD: C:

August 31, 1893.

e

STATISTICS OF FARMS, HOMES, AND MORTGAGES.

MORTGAGES IN FLORIDA.

DEPARTMENT OF THE INTERIOR,
CENsUs OFFICE,
Wasuineton, D. C., August 9, 1893.
Sir:

The real estate mortgage movement in Florida was a progressive 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 $1,482,760.

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:

JA ADAM Boi vere cece seveiesgeqcccete ssstoess Soest sect vanve-teees 3 Minn esotatee.canchccovestetcnrcsesenecnete oa seiemseceneesers $152
IAT KANSAS Sao sce hace se scsescnscneesce) stots duncieececsstrrceiea IMUMISSOUeeteserer tee ee recone ccinecee contac rciscscrersirececets 80
WolOrad One ee secs cesceccctsconwtanstoaschsosesaste cs vedeeessese ING bras Kaan. wccenceececcer scesceoccnee setcieceneveceee pres) aliases}
Connecticut 500 New Hampshire 50
Wlonidakescsceeese ss en ING WAV OL Kien cccm teat cottncse de aiacacienseenoteoninecmeseas 268
INOS) sconteabaaes (ONSET paqponasesdseoouedog cocbcngondvoanasecooshasconsqcos000D 73
Indiana............. i J REITER NYEYA TE 95.000 nonosongs Honosobooooneo0an50NNDocHCeNDEC 117
WOW aveesteeseeeseccewe f | Rhode Island 106
IRAMISAS eee ctee tee neem hcne aoe iiaion sayiealsleloasle mara ssisies ons PREMM ESSEC eaaeeteaiscctiscsieseneeelcdciecseiicesiseececeeeden) 23
Maina eprerccccicecseccceceaciocee cotescr csc necceasiaeciceneesie se |W MOLINO Ihieee carte sinas cmceee steieslanciseaemaclioe sesinaa aleatellests 84
Massachusetts ANSI oa Sti coo toooocu agsadesobucasadebs000 SoooonocDacEcoBeDodS 72

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.
JN FORT eAacace ceooeacebannasadaneasoocsn oedi-cnade s60000 10.96 IWMI ESOL concn cad daso0nsKbodd qdoCoDHOaDEAOMDOOOSORCOGOCO 18.83
JN ccocoaqcadcebado sone 7dboaegacoehOSCenOncHoUO DEL 1.3 IMEISSOUTL coe vencas conse ecwsceesecccdacesesceiecnccossennoses 16.15
Colorado 14.75 INebraskasnesccinccssdecocssecse oars eareascnestenemcac 24.58
Connechicu tees erercdecra-scrd-rescecascnseacseeseiccaas 20.14 New; Ham pshites-pesencrcsssececcacsccicessnececceaseae= 11.68
EN OTIG Birrees ees race renee erences een dencete des cedesineciee: 9.86 New York 28.17
MUM OS Peeerer ececnecteseae sterctcacccccosteceecinn ene? 14.06 OIA DW ys5003te0s6000 ocd ag ond oNooU soo IEGOND DUDEEDEDCHOES 8.11
116 INE HEE oc0n506 ;onoapo pon 2bscesoqdbebadnDAdoOCODpEABGCOGID Bae) Tete VERA AN AEs cococontodcoodennoecoctenbansoconospabacoacq 18.91
ONY Avs ron sac sense gedes Seeeshectecesescccens easeedenstesees 17.61 Rhode Island... 12.13
IKANISAS Tene nese oe ccent enon: dovestecccacsceaceaneceenderore 28.13 Menm esseeke casas acndsesenseenomenacaceonsemtectsrancss 8.67
IN ENTE @.o canccceoopasadeqnocs ana0ns oceooRGbECODHoRDORAGTonoCeC Sse Sie VC LIN OL Upeseceitecinaisceerictieneieailechictetctlsctaiecislisiassise nine 19),21
WIE RSE(G) NES) Ht}, ooqon5ssonocaononsecnqondononoob0n5Ge000REN: TORAH IIb WHSCONSI Met aeescthesctsee atk scrccceesastderseansscnee 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 existing mortgages.
Very respectfully,
JAMES H. WARDLE,
Acting Superintendent of Census.

The SECRETARY OF THE INTERIOR.
C. 0. P.—3,500

a

STATISTICS OF FARMS, HOMES, AND MORTGAGES.

MORTGAGES IN FLORIDA.

BY GEORGE K. HOLMES AND JOHN 8S. LORD.

THE REAL 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.

Tn 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 preceding June 1, 1890, the population of the state increased 45.24 per cent.

MorrGaGEs 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.

MorrGacEs 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
$2,210,575, but higher amounts were reached in 1886, 1887, and 1888. The gain in number of mortgages in 1889
over those of 1880 was 517.12 per cent; in amount of incurred debt, 592.42 per cent.

NUMBER OF ACRES AND LOTS COVERED.—During the 10 years 6,233,611 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 1883, 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.

Avrraces.—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 FARMS, 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 ;

Hr

on lots; total, 13.08 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.................0:+20005 9.86
Percentage of estimated true value of all taxed acres represented by the debt in force against acres.............., 10.81 2
Percentage of estimated true value of all taxed lots represented by the debt in force against lots................. 5 LY

Percentage of the total number of taxed acres represented by the number of mortgaged acres....
Average amount of debt in force per assessed acre.....
Average amount of debt in force per mortgaged acre..

Average value of each assessed acre.......... SACRE ROGCaORG nocgoesbseon podoncoboddenocanscahsouanSsbosbSdosanedocoscooeas63000 dscoadeE6 $4.12
Average number of acres covered by each mortgage in force against ACTES.........++...++1eeeeeeeeeeee es poodancohnoocecods 2) 6S

Average amount of debt to each mortgage in force

Average amount of debt to each mortgage in force against acres
Average amount of debt to each mortgage in force against lots
Average estimated true value of acre real estate covered by each mortgage in force against acres.............+..+++ $680
Per capita existing debt................ GeocesodaGq0a0 GadnadCoNONarIca0ca5 docashosecdocnsocnSSadonbenoduSsSodoATAHEOSdaDIsAWoaDIOOaG p0ae0a0 . $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 OF MORT-
= NUMBER OF ACRES MORTGAGED. GAGES NOT STATING
Number] amount oF DEBT.
Total. On acres. | On lots. of lots
YEARS. | ante
= I = 7 T gaged. T
| | | | |
Number. Amount. Number., Amount. Number. Amount. Total. Stated. Estimated. Total. || Or (oye
| | | _ acres. lots.
— |
The State............ 41,957 | $37 ,349 ,078 25,610 | $21,745,702 | 16,347 $15 ,603 376 6,233,611 6,077 ,467 156, 144 40,634 82 69 13
1,014 | 743,673 646 | 424,420 368 | 319,253 182,985 | 128,023 | 4,962 708 4 4 |severeeee
1,654 1,406,789 1,083 833,112 | 571 573,677 163,057 | 151,536 11,521 1,209 12 || 11 | il
2,190 | 1,872,716 1,436 1,239 ,087 754 633,629 294,772 286,862 | 7,910 1,780 9 | 8 1
| | | |
3,422 4,131,886 | 2,407 3,146 554 | 1,015 985,332 | 2,368,691 | 2,354,109 | 14,582 3,152 1L 8 3
4,899 4,018,693 | 3,315 2,529 633 1,584 1,489 ,060 517 ,659 509,074 | 8,585 2,999 4 | CE sasssatco
5,568 4,635,793 | 3,621 | 2,842 692 | 1,917 1,793,101 582,998 || 560 ,624 22,374 4,741 16 14 2
6,475 5,732,489 | 3,865 | 3,107,684 | 2,610 | 2,624,805 586,360 | 562,021 | 24,339 6,125 5 | @ | pearccno:
6,210 5,302,985 3,319 | 2,592,514 | 2,891 2,710,471 403 ,142 | 383,071 | 20,071 8,070 13 | 7 6
5,349 4,605,957 | 3,013 | 2,342,484 | 2,336 | 2,263 ,473 621,137 596,876 | 24,261 5,335 5 | | Basozcocc
5,176 4,898,097 | 2,905 | 2,687 ,522 2,271 2,210,575 562,810 545,271 | 17,539 6,515 3) ) Aescestos
TABLE 2.—REAL ESTATE MORTGAGE DEBT IN FORCE JANUARY 1, 1890, BY COUNTIES.
1 l
COUNTIES. | Total. | On acres. | On lots. COUNTIES. Total. On acres. On lots.
| | |
The State... ..| $15,505,119 || $10,629,142 | $4,875,977 | $127,601 | $87,463 $40,138
= = = = 158,131 | 128,230 |! 29,901
2 3.682 |
Alachua... 620,642 | 517,641 | 103 ,00L arlene | anos 350
Baker .. 82,496 | 75,016 | 7,480 176818 | 167,489 | ts«CS 9.409
Bradford. 218.644 || 204816 13,828 aed : ,
revard... 544,859 | 482,949 61,910 3
Calhoun... 30,407 | 80/4070 sseecesneees i 107,628 | 92,579 | 15; 089)
|| | Marion .. 1,251,779 |} 1,065,736 | 186 ,043
Citrus 149,341 144,119 5.209 Monroe.. 343,513 26,164 317,349
Clay... 216549 |) 167.425 49°124 Nassau... 117,461 53,695 63,766
Columbia, 214/914 || 173,004 41,910 Orange... ¢ 897,495 | 734,788 | 162,707
42,057 || AZ“ 057m \scowseccsceeereee } |
J 312,296 |} 245 , 167 67,129 280,333 | 214,871 65,462
: | 152,854 | 146,579 6,305
Duval... 1,432,760 | 311,012 1,121,748 777,704 560,177 | 217,527
Escambi 798,920 || 100,313 | 698 607 q 943,357 | 521,253 | 422,104
Franklin. 114,687 102,140 | 12,547 St. John.... “4 615,631 | 204 ,262 411,369
Gadsden.. 64,244 55,526 | 8,718 | |
Hamilton 87,948 || 80,537 | 7,411 Santa Rosa.. a 83,061 | 71,741 11,320
Hernando... 128,281 |} 116,244 12,037 Sumter.. 318,249 292,894 25 355,
a | z | | Suwannee. 157 ,690 150,725 6,965
Hillsboro. 1,056,769 790.569 | 266 200 J | 40,180 | AQ(IS0\ |ecsscccascececeeee
Holmes. 43,974 42,903 1,071
Jackson .. 114,741 | 102,248 12,493 | Volusia.. 1,011,975 | 785,015 | 226,960
Jefferson 101,410 87,015 14,395 Wakulla. 57,696 | 57,560 96
Lafayette. 76 ,587 76 BST oA sete eee Walton. 67,508 28,800 | 38,708
Lake 1,125,828 1,024,257 | 101,571 | Washing 91,651 | 81,649 10,002

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