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Extra Census Bulletin.
No. 59. V^ASHINGTON, D. C. September 19, 1893.
STATISTICS OF FARMS, HOMES, AND MORTGAGES.
OWNERSHIP AND DEBT IN NEVADA.
DEPARTMENT OF THE INTEEIOR,
Washington, D. C, September 12, 1893.
The leading results of the investigation of farm and home proprietorship in Nevada are contained in this
bulletin. In regard to farms, the conclusion is that 16.12 per cent of the farm families hire and 83.88 per cent own
the farms cultivated by them; that 17.17 per cent of the farm owning ftimilies own subject to incumbrance and
82.88 per cent own free of incumbrance. Among 100 farm families, 16 hire their farms, 14 own with incumbrance,
and 70 without incumbrance. On the owned farms there are liens amounting to 1807,919, which is 33.13 per
cent of their value, and this debt bears interest at the average rate of 9.63 per cent, making the average annual
interest charge ^357 to each family. Each owned and incumbered farm, on the average, is worth $11,188, and is
subject to a debt of S3, 706.
The corresponding facts for homes are that 1:3.92 per cent of the home families hire and 56.08 per cent own
their homes ; that of the home owning families 96.07 per cent own free of incumbrance and 3.93 per cent with
incumbrance. In 100 home families, on the average, 44 hire their homes, 2 own with incumbrance, and 54
without incumbrance. The debt on owned homes aggregates $297,039, or 34.46 per cent of their value, and bears
interest at the average rate of 10.19 per cent, so that the annual amount of interest to each home averages $158.
An average debt of $1,555 incumbers each home, which has the average value of $4,513.
Real estate purchase and improvements, when not associated with other objects, caused 53.67 per cent of the
farm families to incur 51.65 per cent of the farm debt and 63.35 per cent of the home families to incur 68.51 per
cent of the home debt.
JAMES H. WARDLE,
Acting Su-perintendeiit of Census.
The Seceetary of the Interior.
C. O. P.-3,500
STATISTICS OF FARMS, HOMES, A^D MORTGAGES.
OWNERSHIP AND DEBT IN NEVADA.
BY GEORGE K. HOLMES AND JOHN S. LORD.
Selections from the results of the investigation of farm and home proprietorship and indebtedness in Nevada
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, aud the
value of the farm or home.
Habitation peopeietorship. — Among the 10,170 families of the state there are 4,046, or 39.78 per cent of the
total, that hire their farms and homes and 6,124, or 60.22 per cent, that own them. Of the families that own,
409, or 6.68 per cent, have farm or home incumbrance and 5,715, or 93.32 per cent, are free of incumbrance. In
100 families, on the average, 39.78 hire their farms or homes, 4.02 own with incumbrance, and 56.20 own without
Faem peopeietorship. — There are 1,514 farm families, which are 14.89 per cent of the total number of families.
Of these 1,270, or 83.88 per cent, own and 244, or 16.12 per cent, hire the farms cultivated by them, while of the
owning families, 218, or 17.17 per cent, have incumbrances on their farms and 1,052, or 82.83 per cent, have no
incumbrances. The average 100 farm families are composed of 16.12 that hire, 14.40 that own with incumbrance,
and 69.48 that own without incumbrance.
In 1880, 9.69 per cent of the farms were hired, so that there is an apparent relative increase of farm tenancy
during the decade; biit 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 peopeietorship. — The 8,656 home families are 85.11 per cent of the families of the state and are
divided into the several classes as follows : hiring families, 3,802, or 43.92 per cent of the total number of home
families; owning families, 4,854, or 56.08 per cent; families owning free of incumbrance, 4,663, or 96.07 per cent
of the total number owning; families owning subject to incumbrance, 191, or 3.93 per cent of the owning families.
Of 100 families, on the average, 43.92 hire their homes, 2.21 own with incumbrance, and 53.87 own without
The homes in Virginia city are hired in a less degree than is found in the remainder of the state. In this city
there are 1,737 home families, of which 633, or 36.44 per cent, hire and 1,104, or 63.56 per cent, own their homes.
Homes subject to incumbrance are occupied by 2 owning families, or 0.18 of 1 per cent of the total owning
families, and 1,102 families, or 99.82 per cent of the owning families, have no home incumbrance. In 100 of these
city home families, on the average, 36.44 hire their homes, 0.12 of 1 per cent owns with incumbrance, and 63.44 own
without incumbrance. It seems probable that there are owned and mortgaged homes in this city that were not
In the state outside of Virginia city 45.80 per cent of the home families hire and 54.20 per cent own their
homes; 5.04 per cent of the home owning families own with incumbrance and 94.96 per cent without incumbrance,
while among 100 home families, on the average, 45.80 hire their homes, 2.73 own subject to incumbrance, and 51.47
own free of incumbrance.
Value and incumbeance. — Liens amounting to $1,104,958 incumber the 409 owned farms and homes of the
state that are subject to incumbrance, $807,919 of which is on 218 farms and $297,039 on 191 homes. The value of
the incumbered farms and homes is $3,300,928: farms, $2,438,892; homes, $862,036. Ratios of debt to value:
farms and homes, 33.47 per cent; farms, 33.13 per cent; homes, 34.46 per cent.
A debt of $600 incumbei'S 2 owned homes of Virginia city, and these incumbered homes are worth $1,500, so
that the debt is 40.00 per cent of the value. The debt incumbering the owned homes in the state outside of
Virginia city is 34.45 per cent of the value of the homes subject to the incumbrance.
Average values and incumbeances. — The average owned and incumbered farm of the state is worth
$11,188 ; home, $4,513 ; of each home in Virginia city, $750.
The average farm incumbrance for the state is $3,706; home, $1,555; home incumbrance in Virginia city, $300.
FARMS, HOMES, AND MORTGAGES.
lu the state outside of Yirgiuia city the average home value is S4,553 ; incumbrauce, $1,568. As before
stated, all values are confined to incumbered farms and homes occupied by owners.
IxTEKEST KATES. — The chicf rate of interest in regard to number of mortgages is 12 per cent. The facts from
which the percentages contained in the following table were computed are exhibited in Table 3 :
PERCESTTAGE OF FAMILIES OCCUPYING OWNED AND INCUMBERED FARMS AND HOMES
AND AMOUNT OF INCUMBRANCE THEREON, BY K.\TES OF INTEREST.
i OF INTEREST.
Under 6 per cent 1.84
6 i>er cent 2.29
7 per cent 1 B.50
8 per cent i 13.30
6 to 8 per cent, inclusive ' 22,47
Over 6 per cent 95.87
Over 8 per cent i 75.69
Over 10 per cent 1 39.91
Over 12 per cent 13.30
FOR HOMES IN CITIES
OF 8,000 TO 100,000
In the state rates higher than 12 per cent are paid by 13.30 per cent of the farm debtor families on 4.77 per cent
of the farm debt, by 23.04 per cent of the home debtor families on 14.33 per cent of the home debt; in Virginia city
by none of the home debtor families on none of the home debt.
The highest rate reported is 36 per cent, which is paid by 3 home families on a debt of S650.
The legislature of Nevada has never limited the rate of interest.
Interest charge and average rates of interest. — The total intei'sst charge for 1 year on the debt
incumbering the owned farms of the state is $77,765; on the homes, $30,255 ; total, $108,020.
The average interest charge for 1 year on each farm is |357 ; home, $158 ; on each home in Virginia city, $21.
On farm loans the average rate of interest is 9.63 per cent ; on home loans, 10.19 per cent ; on home loans in
Virginia city, 7.00 per cent. Hence, the average annual interest value of each owned and incumbered farm,
obtained bv multiplying the average value by the average rate of interest, is $1,077 ; of each home, $460 ; of each
home in Virginia city, $53. Outside of Virginia city the average annual interest charge on each home is $160 ;
average rate, 10.19 per cent ; average annual interest value, $464.
Objects of indebtedness. — Investigation of the reasons why farm and home indebtedness was incurred
discloses the fact that 53.67 per cent of the farm debtor families of the state incurred 51.65 per cent of the farm
debt for the purpose of buj'iug 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, 63.35 per cent of the home
debtor families incurred 68.51 per cent of the home debt.
The objects of real estate purchase and improvements, business, and the purchase of personal property, whien
not complicated with other objects, led 68.34 per cent of the farm debtor families of the state to incur 75.62 per
cent of the farm debt, and 72.77 per cent of the home debtor families to incur 80.65 per cent of the home debt.
Farm and family expenses, standing alone, are represented bj' 4.13 per cent of the farm debtor families of the
state and 2.52 per cent of the farm debt; family expenses bj' 14.66 per cent of the home debtor families and 2.59
per cent of the home debt; family expenses in Virginia citj' by 100.00 per cent of the home debtor families and
100.00 per cent of the home debt.
OWNERSHIP AND DEBT IN NEVADA.
Taiu.e 1 NUMBEK AND PERCENTAGE OF FAMILIES OCCUPYING OWNED AND HIRED AND FF.EE AND INCUMBERED
FARMS AND HOMES.
PERCENTAGE CI." FAM-
ILIES OWNING AND
PEKCENTAGE OF FAM-
ILIES OWNING FREE
AND INCUMEKHED OF
PERCENTAGE OF FAM-
ILIES OWNING FREE
AND INCUMBERED OF
TOTAL OWNING AND
Vircinia city, Storey county (for
Table 2.— VALUE OF FARMS AND HOMES OCCUPIED BY OWNERS AND INCUMBERED
AND AMOUNT AND PERCENTAGE OF INCUMBRANCE THEREON.
Virginia city. Storey cour
Rest of state (for homes)..
FARMS, HOMES, AND MORTGAGES.
Table 3.— NUMBER OF FAMILIES OCCUPYING OWNED AND INCUMBERED FARMS AND HOMES AND AMOU>^T OF
INCUMBRANCE THEREON, BY liATES OF INTEREST.
[Rates of interest represented by i
libers are combined into groups; for instance, rates represented by " 1-2" per cent include all rates greater than 1 per
cent and less than 2 per cent.]
FOR HOMES IN
CITIES OF 8,000 TO
Table 4 — AMOUNT OF ANNUAL INTEREST CHAKGE AND AVERAGE VALUE, INCUMBRANCE,
ANNUAL INTEREST CHARGE, AND ANNUAL RATE OF INTEREST FOR FARMS AND
HOMES OCCUPIED BY OWNERS AND INCUMBERED.
VirEinia city, Storey county (for homes)