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Full text of "Extra census bulletin"

ciV9... 



*MA20I . 1^90. A2 



Apr. IB92 
ja. IB94 




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Digitized by the Internet Archive 

in 2010 with funding from 

Boston Public Library 



http://www.archive.org/details/extracensusbulle57unit 



Extra Census Bulletin. 



No. 57. V/ASHINGTON, D. C. September 11, 1893. 



STATISTICS OF FAKMS, HOMES, AND MORTGAGES. 

OWNERSHIP AND DEBT IN UTAH, 



dp:partment of the inteeior, 

Census Office, 
Washington, D. C, August 30, 1893. 
Sir: 

The leading results of the investigation of farm and home proprietorship in Utah are contained in this bulletin. 
In regard to farms, the conclusion is that 9.43 per cent of the farm families hire and 90.57 per cent own the farms 
cultivated by them; that 5.55 per cent of the farm owning families own subject to incumbrance and 94.45 per cent 
own free of incumbrance. Among 100 farm families, 9 hire their farms, 5 own with incumbrance, and 86 without 
incumbrance. On the owned farms there are liens amounting to 8546,245, which is 24.93 per cent of their value, 
and this debt bears interest at the average rate of 10.13 per cent, making the average annual interest charge 193 to 
each familj-. Each owned and incumbered farm, on the average, is worth $3,670, and is subject to a debt of $915. 

The corresponding facts for homes are that 39.35 per cent of the home families hire and 60.65 per cent own 
their homes ; that of the home owning families 91.49 per cent own free of incumbrance and 8.51 per cent with 
incumbrance. In 100 home families, on the average, 39 hire their homes, 5 own with incumbrance, and 56 without 
incumbrance. The debt on owned homes aggregates $1,428,698, or 27.70 per cent of their value, and bears interest 
at the average rate of 9.71 per cent, so that the annual amount of interest to each home averages $100. An average 
debt of $1,028 incumbers each home, which has the average value of $3,711. 

Ogden and Salt Lake have a population of 14,889 and 44,843, respectively, and these are the only cities in the 
territory having a population greater than 8,000. In these cities 55.35 per cent of the home families hire and 44.65 
per cent own their homes, and of the home owning families 19.51 per cent own with incumbrance and 80.49 per 
cent own free of incumbrance. In 100 home families, on the average, are found 55 that hire their homes, 9 that own 
with incumbrance, and 36 that own without incumbrance. The liens on the owned homes are 26.98 per cent of 
the value of those subject to lien. Several averages show that the rate of interest is 9.43 per cent ; value of each 
owned and incumbered home, $4,712 ; lien on the same, $1,271, and yearly interest charge on each home, $120. 

Real estate purchase and improvements, when not associated with other objects, caused 59.12 per cent of the 
farm families to incur 55.54 per cent of the farm debt, and 70.79 per cent of the home families to incur 66.82 per 
cent of the home debt. 

Very respectfully, 

JAMES H, WARDLE, 

Actin;/ SuperinfrndenI of Ceii.viK. 

The Secretary of the Interior. 

C. O. p.— 3,500 



I 



STATISTICS OF FARMS, HOMES, AND MORTGAGES. 

OWNERSHIP AND DEBT IN UTAH. 



HY GEORGE K. HOLMES AND JOHN S. I.OUD. 



Selections from the results of the investigation of farm and home proprietorship and indol)tedness in Utah 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 propeietoeship. — Among the .38,816 families of the territory there are 11,720, or .30.19 per cent of 
the total, that hire their farms and homes and 27,096, or 69.81 per cent, that own them. Of the families 
that own, 1,987, or 7.33 per cent, have farm or home incumbrance and 25,109, or 92.67 per cent, are free of 
incumbrance. In 100 families, on the average, 30.19 hire their farms or homes, .5.12 own with incumbrance, and 
04.69 own without incumbrance. 

Farm propeietoeship. — There are 11,884 fai-m families, which are 30.62 per cent of the total number of 
families. Of these 10,703, or 90.57 per cent, own and 1,121, or 9.43 per cent, hire the farms cultivated by them,' 
while of the owning families 597, or 5.55 per cent, have incumbrances on their farms and 10,166, or 94.45 per cent, 
have no incumbrances. The average 100 farm families are composed of 9.43 that hire, 5.02 that own with 
incumbrance, and 85.55 that own without incumbrance. 

In 1880, 4.58 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 
represent farms and those for 1890 farm families, and this may somewhat affect the comparison. 

Home proprietorship. — The 26,932 home families are 69.38 per cent of the families of the territory, and are 
divided into the several classes as follows : hiring families, 10,599, or 39.35 per cent of the total number of home 
families ; owning families, 16,333, or 60.65 per cent; families owning free of incumbrance, 14,943, or 91.49 per cent 
of the total number owning; families owning subject to incumbrance, 1,390, or 8.51 per cent of the owning 
fixmilies. Of 100 families, on the average, 39.35 hire their homes, 5.16 own with incumbrance, and 55.49 own 
without incumbrance. 

The homes in Ogden and Salt Lake are hired in a greater degree than is found in the remainder of the territory. 
In these cities there are 10,252 home families, of which 5,674, or 55.35 per cent, hire and 4,578, or 44.65 per cent, 
own their homes. Homes subject to incumbrance are occupied by 893 owning families, or 19.51 per cent of the total 
owning families, and 3,685 fomilies, or 80.49 per cent of the owning families, have no home incumbrance. In 100 
of these city home families, on the average, 55.35 hire their homes, 8.71 own with incumbrance, and 35.94 own 
without incumbrance. 

In the territory, outside of Ogden and Salt Lake, 29.53 per cent of the home families hire and 70.47 per cent 
own their homes, 4.23 per cent of the home owning families own with incumbrance and 95.77 per cent without 
incumbrance, while among 100 home families, on the average, 29.53 hire their homes, 2.98 own subject to 
incumbrance, and 67.49 own free of iucumbrauce. 

Value and incumbrance. — Liens amounting to $1,974,943 incumber the 1,987 owned farms and homes of the 
territory that are subject to incumbrance, $546,245 of which' is on 597 farms and $1,428,698 on 1,390 homes. The 
value of the incumbered ftirms and homes is $7,.349,071 ; farms, $2,191,004; homes, $5,158,067. Ratios of debt lo 
value: farms and homes, 26.87 per cent; farms, 24.93 per cent; homes, 27.70 per cent. 

A debt of $1,135,246 incumbers 893 owned homes in Ogden and Salt Lake, and these incumbered homes are 
worth $4,207,758, so that the debt is 26.98 per cent of the value. The debt incumbering the owned homes in the 
territory outside of Ogden and Salt Lake is 30.88 per cent of the value of the homes subject to the incumbrance. 

Average values and incumbrances. — The average owned and incumbered farm of the territory is worth 
$3,670; home, $3,711 ; of each home in Ogden and Salt Lake, $4,712. 

The average farm incumbrance for the territory is $915 ; home, $1,028 ; home incumbrance in Ogden and Salt 
Lake, $1,271. In the territory outside of Ogden and Salt Lake the average home value is $1,912 ; incumbrance, $590. 
As beibre stated, all values arc confined to incumbered farms and homes occupied bj' ownei-s. 

r.7-'> 3 



FARMS, HOMES, AND MORTGAGES. 



INTEREST BATES.— The cliief rate of iuterest in regard to number of mortgages is 12 per cent, 
which the percentages contained in the following table were computed are exhibited in Table 3 : 

PERCENTAGE OF FAMILIES OCCUPYINCl OWNED AND INCUMBERED FARMS AND 
HOMES AND AMOUNT OF INCUMBRANCE THEREON, BY RATES OF INTEREST. 



The facts from 



RATES OF INTEKEST. 



Under 6 per cent 

6 percent 

7 percent 

8 percent 

6 to 8 per cent, it 
Over 6 per cent . 
Over 8 per cent.. 
Over 10 per cent. 
Over 12 per cent. 



THE TERRITORY. 



For 
number of 
families. 



13.23 
91.79 
83.42 
50.59 
13.07 



1.71 
7.16 
2.66 
16.96 
26.78 
91.13 
71.51 
33.03 
7.19 



For 
number of 
families. 



2.73 
2.52 



75.97 
39.61 
6.91 



1.52 
3.35 
1.81 
18.09 
24.52 
95.13 
73.96 
22.59 
2.78 



For 
nnniber of 

families. 



2.58 
1.12 
23.85 
28.55 
94.28 
68.31 
28.00 



For 
amount. 



1.62 
3.23 
2.10 
21.86 
28.62 
95.15 
69.76 
16.99 
0.89 



In the territorj' rates higher than 12 per cent are paid by 13.07 per cent of the farm debtor families on 7.19 
per cent of the farm debt; by 6.91 per cent of the home debtor families on 2.78 per cent of the home debt; in Ogden 
and Salt Lake by 2.69 per cent of the home debtor families on 0.89 of 1 per cent of the home debt. 

The highest rate reported is 36 per cent, which is paid by 2 farm families on a debt of $1,800. 

The legislature of Utah has never limited the rate of interest. 

Interest chaege and average rates of interest. — The total interest charge for 1 year on the debt 
incumbering the owned farms of the territory is $55,352 ; on the homes, $138,734. Total, $194,086. 

The average interest charge for 1 year on each farm is $93 ; home, $100 ; on each home in Ogden and Salt 
Lake, $120. 

On farm loans the average rate of interest is 10.13 per cent, on home loans, 9.71 per cent; on home loans in 
Ogden and Salt Lake, 9.43 per cent. Hence the average annual interest value of each owned and incumbered farm 
in this territory is $372; of each home, $360 ; of each home in Ogden and Salt Lake, $444. Outside of these two 
cities the average annual interest charge on each home is $64 ; average rate, 10.80 per cent ; average annual interest 
value, obtained bj' multiplying the average value by the average rate of interest, $206. 

Objects of indebtedness. — Investigation of the reasons why farm and home indebtedness was incurred 
discloses the fact that 59.12 per cent of the farm debtor families of the territory incurred 55.54 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, 70.79 per cent of the home debtor 
families incurred 66.82 per cent of the home debt; in Ogden and Salt Lake that 75.81 per cent of the home debtor 
families incurred 69.65 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 82.91 per cent of the farm debtor families of the territory to incur 87.76 
cent of the farm debt; 88.99 per cent of the home debtor families to incur 92.64 per cent of the home debt; 91.71 per 
cent of the home debtor families in Ogden and Salt Lake to incur 93.67 per cent of the home debt. 

Farm and family expenses, standing alone, are represented by 7.54 per cent of the farm debtor families of the 
territory and 4.31 per cent of the farm debt; family expenses by 4.75 per cent of the home debtor families and 2.50 
per cent of the home debt; family expenses in Ogden and Salt Lake by 3.47 per cent of the home debtor families 
and 2.06 per cent of the home debt. 



OWNERSHIP AND DEBT IN UTAH. 5 

T.vni.E 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 
HIEING FAMILIES. 




Total. 


Free. 


Incum- 
bered. 


Owning. 


Hiring. 


Free. 


Incum- 
bered. 


Free. 


Incum- 
bered, 




38,816 


27,096 


25,109 


1,987 


11,720 


69.81 


30.19 


92.67 


7.33 


64.69 


5.12 






11,884 
26,932 


10,763 
16,333 


10,166 
14,943 


597 
1,390 


1,121 
10,599 


90.57 
60.65 


9.43 
39.35 


94.45 
91.49 


5.55 
8.51 


85.55 
55.49 


5.02 
5.16 








10,252 


4,578 


3,685 


893 


5,674 


44.65 


55.35 


80.49 


19.51 


35.94 


8.71 






2,737 
7,515 


1,212 
3,366 


1,018 
2,667 


194 
699 


1,525 
4,149 


44.28 
44.79 


55.72 
55.21 


83.99 
79.23 


16.01 
20.77 


37.19 
35.49 


7.09 
9.30 


Salt Lake, Salt Lake county... 




16,680 


11,755 


11,258 


497 


4,925 


70.47 


29.53 


95.77 


4.23 


67.49 


2.98 





Table 3.— 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. 


Percentage 
of incum- 
brance 

of 
value. 




1,987 


$7,349,071 


81,974,943 


26.87 








2,191,004 
5,158,067 


546.245 
1,428,698 


24.93 
27.70 




1,390 


Two cities (for homes) 


893 


4,207,758 


1,135,246 


26.98 




194 
699 


862,435 
3,345,323 


233,715 
901,531 


27.10 
26.95 


Salt Lake, Salt Lake county 


497 


950,309 


293,452 


30.88 





FARMS, HOMES, AND MORTGAGES. 



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

[Rates of interest represented by mixed numbers are combined into groups; for instance, rates represented by "l-2"percent include all rates greater than 

1 per cent and less than 2 per cent.] 



' INTEREST. 



13-14 
14-15 



: TERRITORY. 



Incumbrance. 



,974,1 

10,536 

12,284 

2,963 

850 

647 

545 

260 

2,931 

86,914 

13,294 

40,329 

4,800 

351,149 

22,253 

9J,I62 

33,1)23 

794,257 

16,588 

28,409 

6,714 

372,521 

10,345 

2,087 

9,945 

1,233 

21,103 

2,450 

1,297 

1,755 

20,100 

400 I 

6,499 

1,800 



2,431 
39,116 



14,601 



92,644 
3,100 
1,615 
3,000 

202,500 
4,687 
6,047 
2,756 

127,776 
4,882 



6,228 
1,233 
10,809 



3.800 
1,800 



6,487 
11,984 
1,498 



47,798 
13,294 
25,828 
4,800 
2.58,505 
19,153 
92,547 
.30,523 
591 ,757 
12,001 
22,362 
3,958 
244,745 
5,463 
2,087 
3,717 



10,294 
2,000 



Incumbranc 



10 i 



5,422 
10,011 



36,617 
11,414 
23,782 
4,800 

248,196 
19,153 
76,876 
27,879 

475,182 
7,020 
17,694 



158,109 
1,433 



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



CIVIL DIVISIONS. 


Ai-erage 
value of 
each 
incumbered 
fium or 
liome. 


Average 

brance 
on each 

farm 
or home. 


Total 
annunl 

interest 
charge. 


Average 
annual 
interest 
charge on 
each farm 
or home. 


Average 

rate of j 
interest, j 








8194,086 


?98 


9.83 1 






3,670 ' 915 


55,. 352 
138,734 

107,049 


93 
100 


10.13 1 
9.71 


For homes 






" ' 


1 971 


120 


9.43 


Ogden, Weber county 




4,446 j 1,205 
4,786 1 1,290 


22,858 
84,191 


118 

120 


9.78 
9.34 


Salt Lake, Salt Lake county 

Rest of territory (for homes) 


1,912 1 590 


31,685 


64 


10.80