Extra census bulletin

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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. O, September 4, 1S93.
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 811,315,896 incurred in 1889. This increase of 261.85
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 for 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 : Minnesota $152

Arkansas 13 Missouri 80

Colorado 2(16 ; Nebraska 126

Connecticut 107 ! New Hampshire 50

Florida 40 ' New York 268

Georgia 15 Oregon 73

Illinois IOii : Pennsylvania 117

Indiana 51 j Kliode Island 100

Iowa 10 1 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 shown below :

PER CENT. | PER CENT,

Alabama 10.96 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 New York 28.17

Georgia 7.56 Oregon 8.11

Illinois 14.00 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 j Wisconsin 12.46

Massachusetts 19.42

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.

Very 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.OKD.

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 $11,315,896 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 in 18S9 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.

Mortgages 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 amount 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 amount of real estate mortgage debt incurred during the 10 years
$32,257,457, or 43.50 per cent, incumbered lots. The amount 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.

EXISTING 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.

Sonio 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) represented

by the debt in force against acres 41.21

Average amount of debt in force per assessed acre.. SO. 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 $564

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

Ter 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. S5 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 various 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.

Bartow 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.

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 total debt actually in force, because many have been paid.]

NUMBER OF MORT-
NOT STATING
MOUNT OF DEBT.

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

The State.... 827,387,590

Appling.

Baker

Baldwin.
Banks. ..
Bartow...

Berrien..

Bibb

Brooks..
Bryan....

Bulloch..

Burke

Butts

Calhoun.. .
Camden ...
Campbell..

Carroll

Catoosa... .

Charlton ..

Chattahoochee

Chattooga
Cherokee..

Clarke

Clay

Clayton

Clinch

Cobb

Coffee

Colquitt...
Columbia-
Coweta

Crawford .

Dade

Dawson....
Decatur.....

Dekalb

Dodge

Doolv

Dougherty .
Douglas

Early

Echols

Effingham..

Elbert

Emanuel ....

Fannin

F.tvette

Flovd

Forsyth

Franklin...

Fulton

Gilmer

Glascock ....

Glynn

Gordon

Gv

aett..

Habersha

Hall

Hancock .
Haralson .
Harris

Hart

Heard

Eenry

Houston. .

Irwin

Jackson....

123,845
48,250

252,053
29,641

220,365

100,989
1,096,774
127,490
91,990
339,271

551,863
71,997

111,819
50,344
38,258

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

33,757

1,515,491

99,692

174,311

•JDS, 1191)
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
117,700
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

2511,162

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
235,812
17,145
102,112

6,512
4.78U

93,566
1,372

26,213

4,070

876,2411
19,528

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

100,845

73,466

72,308

2,319

204,562

4,128

91,147

80,237

101,325

1,570

140,672

4,258

73.964

24,567

162,861

6U0

34,146

1,077

23.090

407

137,678

52,665

143.945

59,875

70.S66

20,999

99,158

19,099

54,434

77,527

27,791

1,833

113.408

4,477

139, 64S

480

107,494

10,266

25,408

5,326

201,013

760

4,207

2,733

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

37,122

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
14,650

Meriwetb

Miller....
Milton....
Mitchell .
Monroe...

Newton..

Oconee

Oglethorpe.

Paulding

Pickens

Pierce

Pike

Polk

Pulaski

Putnam

Quitman

Rabun

Randolph
Richmond
Rockdale.
Schley

Screven....

Talbot

!l Taliaferro
Tattnall....
Tavlor

'■ Telfair

Terrell

Thomas....

Towns

Troup

Twiggs

I Union

Upson

Walker

. Walton

:! Ware

Warren

Washingto
!' Wayne

Webster

i White

Whitfield..

[ Wilcox

'! Wilkes

Wilkinson.
; Worth

8129,831
226.639
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
205,355
59,423

9,768

273,445

1,076,288

15,820

87,336

30S.224
131,754
121,688
544,589
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

355.590
63.704
94,378
25,072
57,239

59,090

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
135,350
70,026

8.037

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

244,384
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

816,088
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
9,950

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