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Full text of "Extra census bulletin"

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Digitized by the Internet Archive 

in 2010 with funding from 

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http://www.archive.org/details/extracensusbulle58unit 



Extra Census Bulletin. 



No. 58. WASHINGTON, D. C. September 14, 1893. 



STATISTICS OF FARMS, HOMES, AND MORTGAGES. 

MORTGAGES IN GEORGIA. 



DEPARTMENT OF THE INTERIOR, 
Census Office, 
Washington, D. C, September 4, 1S9.3. 
Sir: 

The real estate mortgage movement in Georgia from 1880 to 1889 was on the whole a progressive one, beginning 
with a debt of §3,127,275 incurred in 1880 and ending with $11,315,896 incurred in 1889. This increase of 261. S5 
per cent in the incurred debt during the 10 years was greater than the increase of population, which was 19.14 
per cent. 

Upon separation of the debt into that which incumbered acre tracts and that which incumbered lots it will be 
noticed that the rate of increase is about the same for acres as ibr lots. The amount of incurred debt incumbering 
lots in 1880 was $1,259,307, and there was an increase to $5,366,039 in 1889. In 1880, 1,394 lots were mortgaged; 
in 1889, 5,901. The debt incurred on acre tracts rose from $1,867,968 in 1880 to $5,949,857 in 1889. The number 
of acres mortgaged in 1880 was 793,486, and rose to 2,298,461 in 1889. 

During the 10 year period a debt of $74,158,070 was incurred, represented by 103,016 mortgages; 56.50 per 
cent of the debt was on acre tracts and 43.50 per cent on lots. 

The real estate mortgage debt existing January 1, 1890, is $27,387,590, of which $16,969,687, or 61.96 per cent, 
is on acres and $10,417,903, or 38.04 per cent, is on lots. Chatham and Fulton counties, containing, respectively, 
the cities of Savannah and Atlanta, owe 20.70 per cent of the debt of the state. 

Georgia has a per capita mortgage debt of $15, and in this respect stands lower than any other state that has 
been tabulated, except Arkansas, as appears in the following comparative statement: 

Alabama $-26 i Minnesola $152 

Arkansas 1!! i Missouri 80 

Colorado 200 ' Neliraska 12(3 

Connecticut 107 : New Hampshire 50 

Florida 40 ' New York 268 

Georgia 15 Oregon 73 

Illinois UlM : J-'ennsylvania 117 

Indiana 51 i Rhode Island 30(5 

Iowa 101 Tennessee 23 

Kansas 170 ' Vermont 84 

Maine 4!) | Wisconsin 72 

Massachusetts 144 | 

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

PER CENT. I PER CENT. 

Alabama 10.96 Minnesota 18.83 

Arkansas .. 7.34 , Mis.souri 16.15 

Colorado 14.75 ' Nebraska 24.58 

Connecticut 20.14 New Hampshire 11.68 

Florida 9.86 New York 28.17 

Georgia 7.56 Oregon 8.11 

Illinois 14.06 Pennsylvania 18.91 

Indiana 9.79 Rhode Island 12.13 

Iowa 17.61 ; Tennessee 8.67 

Kansas 28.13 ' Vermont 19.21 

Maine 13.28 | Wisconsin 12.46 

Massachusetts 19.42 i 

C. O. P.— 3,500 



2 FARMS, HOMES, AND MORTGAGES. 

The acres covered by existing mortgages number 7,769,359, and are 21.02 per cent of the number of taxed acres 
in the state, and these mortgaged acres are incumbered to the extent of 41.21 per cent of their estimated true value. 

The existing mortgages cover 17,049 lots. 

Verj' respectfully, 

JAMES H. WAEDLE, 

Acting Superintendent of Census. 

The Secretary of the Interior. 



STATISTICS OF FARMS, HOMES, AND MORTGAGES. 

MORTGAGES IN GEORGIA. 



BY GEORGE K. HOLMES AND JOHN S. I.OliD. 



THE REAL ESTATE MORTGAGES OF 10 YEARS. 

Georgia exhibits a mortgage movement whose progressive tendency is chiefly found in the increase from 1880 
to 1883. Table 1 shows that during the decade ending December 31, 1889, the real estate mortgages, mentioning 
the amount of debt secured, numbered 103,016, and represented an incurred debt of $74,158,070. The amount of 
this debt incurred in 1880 was $3,127,275, and there was an increase to $9,248,502 in 1883. After some fluctuations 
the amount rose to $1 1 ,315,896 in 1889. The 370 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, 4,387 mortgages stating amount of debt were made, and 14,862 in 1889. The number of mortgages 
made ia 1889 gained 238.77 per cent upon those made in 1880; the amount of debt incurred, 261.85 per cent. 
During the 10 years preceding June 1, 1890, the population of the state increased 19.14 per cent. 

MoETGAGES ON ACRES. — A debt of $41,900,613 was placed on acre tracts during the 10 years, or 56.50 per cent 
of the total for acre tracts and lots, and this amouut was represented by 75,848 mortgages, or 73.63 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 $1,867,968 in 1880 to $5,949,857 in 1889. The acre mortgages numbered 3,353 in 1880 and 
increased to 10,242 in 1889. 

Mortgages on lots. — Of the total a,mount of real estate mortgage debt incurred during the 10 years 
$32,257,457, or 43.50 per cent, incumbered lots. The amouut incurred in 1880 was $1,259,307 ; in 1889 it was 
$5,366,039. The gain in number of mortgages in 1889 over those of 1880 was 346.81 per cent; in amount of incurred 
debt, 326.11 per cent. 

Number of acres and lots covered. — During the 10 years 18,130,372 acres were incumbered by 76,149 
mortgages stating and not stating amount of debt. In 1880 the number of acres incumbered was 793,486, and the 
number rose to 2,298,461 in 1889. Lots to the number of 34,305 were incumbered during the decade by 27,237 
mortgages stating and not stating amount of debt; 1,394 in 1880, 5,901 in 1889. Increase of 1889 over 1880, 323.31 
per cent. 

Averages. — The average amount of each mortgage on acres made in the state during the decade was $552; 
on lots, $1,187. Mortgages not stating amount of debt are included in these averages. Each mortgage on acres 
covered 238 acres on the average; each mortgage on lots covered 1.26 lots. A debt of $2.32 was placed on each 
mortgaged acre on the average; of $943 on each mortgaged lot. 

EXISTINTG INDEBTEDNESS. 
Table 2 shows that the existing mortgage debt of Georgia is $27,387,590, of which $16,969,687, or 61.96 per 
cent, is on acres and $10,417,903, or 38.04 per cent, is on lots. Of the 48,519 mortgages in force, 34,731, or 71.58 
per cent, are on acres and 13,788, or 28.42 per cent, are on lots. Mortgages in force cover 7,769,359 acres and 
17,049 lots. Mortgages have an average life of 3.707 years; on acres, 3.729 years; on lots, 3.675 years. The 
partial payments adopted for this state are 13.18 per cent of the face of the existing mortgages on acres ; 30.95 per 
cent on lots ; total, 20.92 per cent. 

58—2 3 



4 FARMS, HOMES, AND MORTGAGES. 

Some derived results that have been obtained follow: 

Percentage of estimated true value of all taxed real estate represented by the debt in force 7.56 

Percentage of estimated true value of all taxed acres represented by the debt in force against acres 8.66 

Percentage of estimated true value of all taxed lots represented by the debt in force against lots 6.26 

Percentage of the total number of taxed acres represented by the number of mortgaged acres 21.02 

Percentage of estimated true value of mortgaged acres (adopting average for all assessed acres) repiesented 

by the debt in force against acres 41 .21 

Average amount of debt in force per assessed acre.. ; §0.46 

Average amount of debt in force per mortgaged acre $2.18 

Average value of each assessed acre $5.30 

Average number of acres covered by each mortgage in force against acres 224 

Average amount of debt to each mortgage in force $5G4 

Average amount of debt to each mortgage in force against acres $489 

Average amount of debt to each mortgage in force against lots $756 

Average estimated true value of acre real estate covered by each mortgage in force against acres $1,187 

Per capita existing debt $15 

SPECIAL INVESTIGATIONS. 

In Bartow, Houston, and Twiggs counties special investigations were conducted, the character of which has 
been explained at length in Extra Census Bulletin No. 3, for Alabama and Iowa. 

Objects of indebtedness. — It is found that 60.66 per cent of the original amount of existing debt, that is, 
without deducting partial payments, was incurred in Bartow county to secure part of the purchase price of real 
estate, uncombined with other objects, 39.85 per cent in Houston county, and 12.92 per cent in Twiggs county. 

To secure purchase money and to make real estate improvements, when not associated with other objects, were 
the reasons why 71.00 per cent of the original amount of the existing debt was incurred in Bartow county, 46.98 
per cent in Houston county, and 20.93 per cent in Twiggs county. The percentage for real estate purchase and 
improvements, business, and the purchase of vai-ions articles of personal property, when not associated with other 
objects, is 81.57 in Bartow county, 54.52 in Houston county, and 21.61 in Twiggs county. 

Baetow county. — This county has an existing debt of $220,365 and 330 mortgages in force. The population 
being 20,616, the per capita indebtedness is $11, and there are 62 persons, on the average, to a mortgage in force. 
Mortgages cover 53,037 acres, and these are 17.97 per cent of the taxed acres; 95 lots are mortgaged. The average 
incumbrance on each mortgaged acre is $3.66; on each mortgaged lot, $276. There are 198 acres, on the average, 
incumbered by each mortgage on acres, and 1.53 lots by each mortgage on lots. 

Houston county. — The 280 mortgages in force represent an existing debt of $250,462, or $12, on the average, to 
each of the 21,613 persons in the county, and 1 mortgage to 77 persons. The 85,677 acres covered by mortgages 
are 23.47 per cent of the taxed acres, and the mortgaged lots number 40. Each mortgage on acres incumbers 356 
acres on the average, and each mortgage on lots incumbers 1.03 lots. The average debt to each incumbered acre 
is $2.75; to each incumbered lot, $366. 

Twiggs county. — There is an existing debt of $115,209 in this county, and 149 mortgages are in force. The 
population is 8,195, so that the per capita debt is $14, and there are 55 persons, on the average, to a mortgage in 
force. Mortgages cover 71,701 acres, and these are 31.73 per cent of the taxed acres; 4 lots are mortgaged. The 
average incumbrance on each mortgaged acre is $1.60; on each mortgaged lot, $118. There are 494 acres, on the 
average, incumbered by each mortgage on acres, and 1 lot by each mortgage on lots. 



MORTGAGES IN GEORGIA. 

TAni.E 1.— XUMBEU AN'D AJIOUNT OF REAL ESTATE MORTGAGES PLACED ON RECORD AND NUMBER OF ACRES 

AND LOTS COVERED, BY YEARS. 
[These mortgages do not represent the total debt actually in force, because many have been paid.] 



NUMBER OF MOBT- 
NOT STATING 
MOUNT OF DEBT. 




FARMS, HOMES, AND MORTGAGES. 
Table 2.— BEAL ESTATE MORTGAGE DEBT IN KOKCE JANUARY 1, 1890, BY COUNTIES. 



Tbe State I $27,387,590 



Appling. 

Baker 

Baldwin. 
Banks... 
Bartow... 



Berrien.. 

BibI) 

Brooks.. 
Bryan.... 
Bulloch,. 



Burke 

Butts 

Calhoun.. . 
Camden ... 
Campbell.. 

Carroll 

Catooi^a 

Charlton .. 



Chattalioochee . 



Chattooga 
Cherokee.. 

Clarke 

Clay 

Clayton 



Clinch 

Cobb 

Cottee 

Colquitt... 
Columbia.. 

Coweta 

Crawford . 

Dade 

Dawson.... 
Decatur 



Dekalb 

Dodge 

Doolv 

Dougherty . 
Douglas 

Eavlv 

Echols 

Effingham.. 

Elbert 

Emanuel .... 

Fannin 

Fayette 

Flovd 

Forsyth 

Franklin... 

Fulton 

Gilmer 

Glascock .... 

Glynn 

Gordon 



Gv 



nett.. 



Habersha 

Hall 

Hancock .. 
Haralson . 
Harris 

Hart 

Heard 

Kenry 

Houston... 

Irwin 

Jackson.... 



12,'?,845 
48,260 

252,053 
29,641 

220,365 

100,989 
1,096,774 
127,490 
91 ,9'.KI 
339,271 

551,863 
71,997 

111,819 
50,344 
38,258 

85,343 
30,854 
16,691 
2,549,510 
28,802 

3:i,7.57 

1,515,491 

99,692 

174, .S 11 



208,690 
171,384 
102,895 
74,973 
144,930 

98,531 
163,464 
35,223 
23,497 
190,343 



91,865 
118,257 
131,961 

29,624 

117,885 
140,128 
117,760 
30,734 



619,657 
13,563 
42,677 

3,120,514 
6,686 
19,425 
697,455 
97,730 
89,301 



22,725 
50,723 
127,079 
250,462 



158,487 
28,269 
194,152 

96,919 
220,534 
107,962 

91,322 
335,697 

432,746 
60,289 
72,416 
43,297 
30,520 

75,424 
24,613 
14,738 
397,261 



20,172 
49,508 
121,714 
2-35,812 
17,145 
102,112 



6,512 
4,78U 

93,566 
1,372 

26,213 

4,070 
876,240 
19,52« 



39,403 
7,047 
7,738 

9,919 

6,241 

1 ,953 

2,152,279 



28,399 
33,224 


403 
533 


1,514,131 


1,360 


25,919 


73,773 


ion. 845 


73,466 


72,308 


2,319 


204,562 


4,128 


91,147 


80,237 


101,325 


1,570 






140,072 


4,258 


73,961 


21,567 


162,864 


600 


34,146 


1,077 


23.090 


407 


137,678 


52,665 


143.945 


59,875 


70,866 


20,999 


99,158 


19,099 


54,4.34 


77,527 


27,791 


1,833 


113.408 


4,477 


139,648 


480 


107,494 


10,266 


25,408 


5,326 


201,013 


760 


4,207 


2,7.33 


37,010 


833 


321,038 


298,619 


13,131 


432 


38,064 


4,613 


217,718 


2,902,796 


3,645 


3,041 


16,452 


2,973 


256,502 


440,953 


97.022 


708 


67,580 


21,721 


72,443 


4,403 




4,858 


76,009 


92.197 


67,318 


9,751 


60,612 


32,299 


112,806 


1,594 



Lee 

Liberty.... 

Lincoln 

Lowndes . 
Lumpkin. 



2,553 
1,215 
5,365 
14,6.50 



Meriw»eth 
Miller...., 
Miltnn,... 
Mitchell . 
Monroe... 



Newton.. 



Oconee 

Oglethorpe.. 

Patdding: 

Vickens 

Pieree 

Pike 

Polk 

Pulaski 

Putnam 

Quitman 



Rabun 

Randolph 
Richmond 
Rockdale. 
Schley 

Screven.... 



Talbot 

! Taliaferro 
Tattnall.... 

|I Tavlor 

'i Telfair 

Terrell 

J Thomas.... 

!; Towns 

11 Troup 

) Twiggs 

I' Union 

I Upson 

P Walker 

II Walton 

I Ware 

<: Warren 

Washingto 
!' Wayne 

Weh.^ter 

|| White 

I| Whitfield... 

5 Wilcox 

I| Wilkes 

Wilkinson. 

II AVorth 



8129,8.31 
226.6:39 
245,005 
119 060 
307,513 

119,517 
165,014 

86,176 
249,813 

24,494 

122,514 
211,619 
171,617 
14,367 
73,804 

113,916 
45,037 
21,677 
118,156 
301 ,324 

47,411 
103,469 

31,637 
733.073 

81,670 

9,. 387 
136,201 
22,401 
418,117 
124,434 

276,241 
150,654 
138,626 
205,3.55 
59,423 

9,768 

273,445 

1,076,288 

15,820 

87,336 

308,224 
131,754 
121,688 
544,589 I 
106,520 

50,334 
247,840 
191,. 595 

34,918 ! 
175,178 

234.429 

3,073 

128,430 

115,209 

2,744 

147,985 
58,373 
45,392 
147,347 
179,944 ;i 

355. .590 II 
63.704 1] 
94,378 
25,072 I 
57,239 

59,090 il 



8113.746 

218,647 
189,925 
116,143 
245,748 



163,221 
83,388 

179,113 
21,470 

111,839 
209,021 
142,236 
13,616 
67,411 

107,395 
41 ,567 
19,994 
74,398 

272,343 

47,234 
86,049 
28,640 
135,3.50 
70,026 

3,037 
128,974 
19,472 
414,532 
122,567 

197,930 
127,937 
107,211 
184,912 
57,766 



109,749 
401,556 
96,570 

44,151 
214,384 
185,994 

28,371 
155,499 

142,183 

2,945 

106,984 

114,737 

2,744 

136,619 
56,645 
41,760 
80,607 

163,268 

338,725 
54,282 
92,976 
24.703 
32,356 

52,034 



$16,088 
7,992 

55,080 
2,917 

61,765 



10,675 
2,598 
29,381 



17,420 

2,997 

597,723 

14,644 



1,867 

78,311 
22,717 
31,415 
20,443 
1,657 

561 



1,166 

12,327 
32,027 
11,939 
143,033 
9,960 

6,183 
3,456 
5,601 
6,. 547 
19,679 

92,246 



11,366 
1,728 
3,632 
66,740 
16,676 

16,865 
9,422 
1,402 



7,056 
35,003 
28,461 
32,328