(navigation image)
Home American Libraries | Canadian Libraries | Universal Library | Community Texts | Project Gutenberg | Children's Library | Biodiversity Heritage Library | Additional Collections
Search: Advanced Search
Anonymous User (login or join us)
Upload
See other formats

Full text of "Extra census bulletin"

*HA20I . 1^90. A2^ 



cjw ..: : 



Apr. 1"^^ 



)2 




3^ 



J 
94 



>f 



Digitized by the Internet Archive 

in 2010 with funding from 

Boston Public Library 



http://www.archive.org/details/extracensusbulle59unit 



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, 

Census Office, 
Washington, D. C, September 12, 1893. 
Sir: 

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. 

Very respectfully, 

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 
incumbrance. 

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 
incumbrance. 

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 
reported. 

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. 

59—2 3 



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. 



THE STATE. 



For farms. 



For number 
of families. 



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 



1.45 
3.03 
8.99 
14.68 
28.81 
95.52 
69.74 
18.14 
4.77 



For homes. 



0.52 
6.81 
3.66 
7.33 
17.80 
92.67 
81.68 
52.88 
23.04 



0.31 
5.56 
6.46 
.35.18 
47.20 
94.10 
52.46 
27.53 
14.33 



FOR HOMES IN CITIES 

OF 8,000 TO 100,000 

PEOPLE. 



For number 
of families. 



For 
amount. 



100.00 
100.00 



100.00 
100.00 



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. 



CIVIL DIVISIONS. 


.^Kgregate 


o\v 


.\-l.NG KAMILIES. 


Hiring 
families. 


PERCENTAGE CI." FAM- 
ILIES OWNING AND 
HIKING. 


PEKCENTAGE OF FAM- 
ILIES OWNING FREE 
AND INCUMEKHED OF 
TOTAL OWNING 

FAMILIES. 


PERCENTAGE OF FAM- 
ILIES OWNING FREE 

AND INCUMBERED OF 
TOTAL OWNING AND 
HIRING FAMILIES. 




Total. 


Free. 


bered. 


Owning. 


Hiring. 


Free. 


bered. 
6.68 


Free. 


Incum- 
bered. 




:0,T70 


6.124 


5,715 


409 


4,046 


60.22 


39.78 


93.32 


56.20 


4.02 






1,514 
8,656 


1.270 
4,854 


1,053 
4,663 


218 
191 


244 

3,803 


83.88 
56.08 


16.12 
43.92 


82.83 
96.07 


17.17 
3.93 


69.48 
53.87 


14.40 
2.21 






Vircinia city, Storey county (for 
homes). 


1,737 


1,104 


1,102 


2 


633 


63,56 


36.44 


99.82 


0.18 


63.44 
51.47 


0.12 




6,919 


3,750 


3,561 


189 


3,169 


54.20 




45.80 


94.96 


5.04 


2.73 





Table 2.— VALUE OF FARMS AND HOMES OCCUPIED BY OWNERS AND INCUMBERED 
AND AMOUNT AND PERCENTAGE OF INCUMBRANCE THEREON. 



The State 

For farms 

For homes 

Virginia city. Storey cour 

Rest of state (for homes).. 





Number 

of families 

owning 

with 111- 

brance. 


Value. 


Incumbrance. 


Percent- 
age of 

brance of 
value. 




409 


83,300,928 


$1,104,958 


33.47 








2,438,892 
862,036 


807.919 
297,039 


33.13 
34.46 










"■"es) 


2 


1,.500 


600 


40.00 




189 


860,5.36 


296,439 


34.45 





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.] 



5 


....do 


6 


....do 








....do 


7-8 


....do 


g 


...do 






9-10 


...do 


10 


..do 






12-13 . 
13 


...do 

...do 


13-14 . 


...do 


15 


...do 


16 


...do 




...do 


18 


...do 


24 
36 


...do 



THE STATE. 



For homes. 



Number 

of Incumbrn 

families. 



8,000 

1,734 

3,000 

40,960 

1,000 

91,813 

16,067 

223,06.5 

98,375 

18,740 

373,800 

147,247 

1,584 

2.750 

2,000 

22,100 

300 

16,000 

24,679 

11,094 



8,000 

734 

3,000 

24,450 

1,000 

72,624 

16,067 

118,579 

82,663 

18,740 

315,463 

108,024 

1,584 

2,750 

2,000 

15, .555 



1.000 
16,510 



104,486 
15,712 



58,337 
39,223 



16,000 
14,816 
4,271 



FOR HOMES IN 

CITIES OF 8,000 TO 

100,000 PEOPLE. 



Incumbrance. 



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. 



CIVIL DIVISIONS. 


Average 
value of 
each in- 
cumbered 
farm or 
home. 


Average 

brance on 
each farm 
or home. 


Total an- 
nual inter- 
est charge. 


Average 
annual in- 
terest 
charge on 
each farm 

or home. 


Average 
animal 
rate of 

interest. 


The State 


88,071 


82,702 


8108,020 


8264 


9.78 




11,188 
4,513 


3,706 

1,555 


77,765 
30,255 


357 

158 


9.63 
10.19 




VirEinia city, Storey county (for homes) 


750 


300 


42 
30,213 


21 


7,00 


4,553 


1,568 


160 


10.19