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Full text of "Extra census bulletin"

ciV9.. 



*HA20I . 1^90. A2di 



Apr. 1^92 
^ Auq. 1894 




^ 



Extra Census Bulletin. 

No. 61. WASHINGTON, D. c. September 28, 1893. 

STATISTICS OF FARMS, HOMES, AND MORTGAGES. 

OWNERSHIP AND DEBT IN WYOMING. 



DEPARTMENT OF THE INTERIOK, 

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

The leading results of the investigation of farm and home proprietorship in Wyoming are contained in this 
bulletin. In regard to farms, the conclusion is that 20.88 per cent of the farm families hire and 79.12 per cent own 
the farms cultivated by them; that 13.05 per cent of the farm owning families own subject to incumbrance and 86.95 
per cent own free of incumbrance. Among 100 farm families, 21 hire their farms, 10 own with incumbrance, and 69 
without incumbrance. On the owned farms there are liens amounting to $455,061, which is 34.63 per cent of their 
value, and this debt bears interest at the average rate of 10.92 per cent, making the average annual interest charge 
$136 to each family. Eacli owned and incumbered farm, on the average, is worth $3,600, and is subject to a debt of 
$1,247. 

The corresponding facts for homes are that 61.54 per cent of the home families hire and 38.46 per cent own 
their homes ; that of the home owning families 86.44 per cent own free of incumbrance and 13.56 per cent with 
incumbrance. In 100 home families, on the average, 62 hire their homes, 5 own with incumbrance, and 33 without 
incumbrance. The debt on owned homes aggregates $589,238, or 41.76 per cent of their value, and bears interest 
at the average rate of 10.73 per cent, so that the annual amount of interest to each home averages $142. An average 
debt of $1,324 incumbers each home, which has the average value of $3,171. 

Cheyenne has a population of 11,690, and this is the only city in the state having a population greater than 
8,000. In this city 69.13 per cent of the home families hire and 30.87 per cent own their homes, and of the home 
owning families 19.97 per cent own with incumbrance and 80.03 per cent own free of incumbrance. In 100 home 
families, on the average, are found 69 that hire their homes, 6 that own with incumbrance, and 25 that own without 
incumbrance. The liens on the owned homes are 41.06 per cent of the value of those subject to lien. Several 
averages show that the rate of interest is 10.32 per cent ; value of each owned and incumbered home, $4,264 ; lien 
on the same, $1,751, and yearly interest charge on each home, $181. 

Real estate purchase and improvements, when not associated with other objects, caused 46.85 per cent of the 
farm debtor families to incur 31.83 per cent of the farm debt and 66.06 per cent of the home debtor families to 
incur 61.51 per cent of the home debt. 

Very respectfully, 

JAMES H. WARDLE, 

Acting Superintendent of Census. 
The Secretary of the Interior. 

C. O. p.— 3,500 



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STATISTICS OF FARMS, HOMES, AjN'D MORTGAGES. 

OWNERSHIP AND DEBT IN WYOMING. 



BY GEOEGE K. HOLMES AND JOHN S. I.OED. 



Selections from the results of the investigation of farm and home proprietorship and indebtedness in Wj-oming 
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 peopeietoeship. — Among the 12,06-5 families of the state there are 5,988, or 49.63 per cent of the 
total, that hire their farms and homes and 6,077, or 50. .37 per cent, that own them. Of the families that own, 
810, or 13.38 per cent, have farm or home incumbrance and 5,267, or 86.67 per cent, are free of incumbrance. 
In 100 families, on the average, 49.63 hire their farms or homes, 6.71 own with incumbrance, and 43.66 own without 
incumbrance. 

Farm peopeietoeship. — There are 3,534 farm families, which are 29.29 per cent of the total number of 
families. Of these, 2,796, or 79.12 per cent, own and 738, or 20.88 per cent, hire the farms cultivated by them, 
while of the owning families 365, or 13.05 per cent, have incumbrances on their farms and 2,431, or 86.95 per cent, 
have no incumbrances. The average 100 farm families are composed of 20.88 that hire, 10.33 that own with 
incumbrance, and 68.79 that own without incumbrance. 

In 1880, 2.84 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 peopeietoeship. — The 8,531 home families are 70.71 per cent of the families of the state, and are 
divided into the several classes as follows: hiring families, 5,250, or 61.54 per cent of the total number of home 
families ; owning families, 3,281, or 38.46 per cent; families owning free of incumbrance, 2,836, or 86.44 per cent of 
the total number owning ; families owning subject to incumbrance, 445, or 13.56 per cent of the owning families. 
Of 100 families, on the average, 61.54 hire their homes, 5.22 own with incumbrance, and 33.24 own without 
incumbrance. 

The homes in Cheyenne are hired in a greater degree than is found in the remainder of the state. In this city 
there are 2,060 home families, of which 1,424, or 69.13 per cent, hire and 636, or 30.87 per cent, own their homes. 
Homes subject to incumbrance are occupied by 127 owning families, or 19.97 per cent of the total owning families, 
and 509 families, or 80.03 per cent of the owning families, have no home incumbrance. In 100 of these city home 
families, on the average, 69.13 hire their homes, 6.16 own with incumbrance, and 24.71 own without incumbrance. 

In the state, outside of Cheyenne, 59.13 per cent of the home families hire and 40.87 per cent own theii- homes, 
12.02 per cent of the home owning families own with incumbrance and 87.98 per cent without incumbrance, while 
among 100 home families, on the average, 59.13 hire their homes, 4.91 own subject to incumbrance, and 35.96 own 
free of incumbrance. 

Value and incumbrance. — Liens amounting to $1,044,299 incumber the 810 owned farms and homes of the 
state that are subject to incumbrance, $455,061 of which is on 365 farms and $589,238 on 445 homes. The value 
of the incumbered farms and homes is $2,724,904; farms, $1,313,894; homes, $1,411,010. Ratios of debt to value: 
farms and homes, 38.32 per cent; farms, 34,63 per cent; homes, 41.76 per cent. 

A debt of $222,399 incumbers 127 owned homes of Cheyenne, and these incumbered homes are worth $541,591, 
so that the debt is 41.06 per cent of the value. The debt incumbering the owned homes in the state outside of 
Cheyenne is 42.19 per cent of the value of the homes subject to the incumbrance. 

Average values and incumbrances. — The avei-age owned and incumbered farm of the state is worth $3,600 ; 
home, $3,171; of each home in Chej^enue, $4,264. 

The average farm incumbrance for the state is $1,247 ; home, $1,324 ; home incumbrance in Cheyenne, $1,751. 
In the state outside of Cheyenne the average home value is $2,734; incumbrance, $1,154. As before stated, all 
values are confined to incumbered farms and homes occupied bj' owTiers. 

61-2 3 



FARMS, HOMES, AND MORTGAGES. 



Interest rates. — The chief rate of interest in this state is 12 per cent. The facts from which the percentages 
contained in the following table were computed are exhibited in Table .3: 

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



RATES OF INTEREST. 



Under 6 per cent . 

6 percent 

7 percent 

8 percent 

6 to 8 per cent 

Over 6 per cent 

Over 8 per cent — 
Over 10 per cent.... 
Over 12 per cent... 



THE STATE. 



For 
number of 
families. 



1.09 
2.19 
1.92 
7.40 
12.06 
96.72 
86.85 
43.84 
9.59 



0.56 
2.27 
1.38 
2.45 
6.99 
97.17 
92.45 
49.35 
9.97 



For 
number of 
families. 



4.94 
0.90 
9.21 
15.27 
92.36 
82.03 
54.61 
12.81 



4.79 
1.57 
12.94 
19.48 
93.93 
79.24 
47.63 



1.58 
1.58 



0.40 
1.01 



96.84 
90.51 
55.11 



17.99 
19.00 
98.59 
80.60 
39.29 
2.32 



In the state rates higher than 12 per cent are paid bj' 9.59 per cent of the farm debtor families on 9.97 per 
cent of the farm debt; by 12.81 per cent of the home debtor families on 9.08 per cent of the home debt; in Cheyenne 
by 4.72 per cent of the home debtor families on 2.32 per cent of the home debt. 

The highest rate reported is 36 per cent, which is paid by 1 home family on a debt of $■4,071. 

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

Interest charge and average rates of interest. — The total interest charge for 1 year on the debt 
incumbering the owned farms of the state is $49,712 ; on the homes, $63,229. Total, $112,941. 

The average interest charge for 1 year on each farm is $136; home, $142; on each home in Cheyenne, $181. 

On farm loans the average rate of interest is 10.92 per cent; on home loans, 10.73 per cent; on home loans in 
Cheyenne, 10.32 per tent. Hence the average annual interest value of each owned and incumbered farm in this state 
is $393 ; of each home, $340 ; of each home in Cheyenne, $440. Outside of Cheyenne the average annual interest 
charge on each home is $127; average rate, 10.98 per cent; average annual interest value, $300. 

Objects of indebtedness. — Investigation of the reasons why farm and home indebtedness wa,s incurred 
discloses the fact that 46.85 per cent of the farm debtor families of the state incurred 31.83 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, 66.06 per cent of the home debtor 
families incurred 61.51 per cent of the home debt; in Chej^enue that 72.45 per cent of tlie home debtor families 
incurred 67.44 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 69.86 per cent of the farm debtor families of the state to incur 66.16 per 
cent of the farm debt; 85.61 per cent of the home debtor families to incur 83.08 per cent of the home debt; 88.99 per 
cent of the home debtor families in Cheyenne to incur 88.13 per cent of the home debt. 

Farm and family expenses, standing alone, are represented by 4.11 per cent of the farm debtor families of the 
state and 2.51 per cent of the farm debt; family expenses by 3.60 per cent of the home debtor families and 0.65 of 1 
per cent of the home debt; family expenses in Cheyenne by 6.30 per cent of the home debtor families and 1.08 per 
cent of the home debt. 



OWNERSHIP AND DEBT IN WYOMING. 



taui.k 1.— number and percentage of families occupying owned and hired and free and incumbered 

farms and homes. 





Aggregate. 


PA Mr LIES OWN 


KG. 

Incum- 
bered. 


Families 
hiring. 


PERCENTAGE OF FAM- 
ILIES OWNING AND 
HIRING. 


PBRCENTAGE OF FAM- 
ILIES OWNING FHEK 
AND INCUMBERED OP 
TOTAL OWNING 
FAMILIES. 


PERCENTAGE OF FAM- 
ILIES OWNING FREE 
AND INCUMIiKRED OF 
TOTAL OWNING AND 
HIRING FAMILIES. 




Total. 


Free. 


Owning. 


Hiring. 


Free. 


Incum- 
bered. 


-, Incum- 
^™«' ! bered. 


The Slate 


12,065 


6,077 


5,267 


810 


5,988 

738 
5,250 


50.37 


49.63 


86.67 


13.33 


43.66 6.71 




3,531 
8,531 


2,796 
3,281 


2,431 
2,836 


365 
445 


79.12 
38.46 


20.88 
61.54 . 


86.95 
86.44 


13.05 
13. .W 

19.97 




For homes 


33.24 


5.22 


Cheyenne, Laramie county (for 


2,060 


636 


509 


127 


1,424 


30.87 


69.13 


80.03 


24.71 


6.16 




6,471 


2,615 


2,327 


318 


3,826 


40.87 


59.13 


87.98 


12.02 











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




6 

Table 3 

[Rates of interest represented by mixed numbers 



FARMS, HOMES, AND MORTGAGES. 



NUMBER OF FAMILIES OCCUPYING OWNED AND INCUMBERED FARMS AND HOMES AND AMOUNT OF THE 
INCUJIBRANCE THEREON, BY RATES OF INTEREST. 

combined into groups; for instance, rates represented by "1-2" percent include all rates greater than 
1 per cent and less than 2 per cent.] 





RATES OK INTEREST. 






THE STATE. 




FOR HOMES IN CITIES OF 






Total. 


For farms. 


For homes. 


8,000 TO 100,000 PEOPLE. 




Number 

of 
families. 


Incumbrance. 


Number 

of 
families. 


Incumbrance. 


Number 

of 
families. 


Incumbrance. 


Number 

of 
families. 


Incumbrance. 






810 


$1,044,299 


365 


$155,061 


445 


$589,238 


127 


$222,399 










5 
3 
4 
1 
1 
1 
1 
30 
11 
3 
68 
4 
12 
14 
249 
10 
23 
5 
273 
5 
8 
5 
1 
27 
3 
1 
2 
26 
2 
1 
1 
9 
1 


1,629 

1,492 

1,300 

400 

1,000 

1,000 

3,250 

38,555 

15,515 

5,125 

87,421 

8,820 

22,930 

43,007 

307,633 

25,020 

28,082 

5,328 

317,927 

1,621 

10,029 

13,353 

2,000 

30,484 

11,062 

350 

8,229 

13,564 

875 1 

300 

400 

2,524 

4,071 


2 


550 


3 
3 
4 


1,079 
1,492 
1,300 


1 


400 


1 








! 


1 


500 






j ... . 


1 1 400 

1 




2-3 
4-5 
5 
6 

7 
7-8 




1 1,000 
1 1 1,000 








1 


! 




1 3.250 


1 


do 


8 

7 

2 
7 

146 
6 
12 
5 

102 
4 
6 
3 
1 
9 
2 
1 


10,338 
6,265 
4,075 

11,158 
1,236 
2,800 

22,234 
169,859 

15,108 

19,872 
5,328 
138,887 
1,574 
9,029 
1,353 
2,000 

16,810 

7,090 

350 


1 
41 

2 
10 

7 
103 

4 
11 


28,217 
9,250 
1,050 

76,263 
7,584 

20,130 

20,773 

137,774 

9,912 

8,210 


2 


2,250 








do 


8 


40,000 


8-9 








3 

2 
40 
2 

1 


10,000 






11,550 




. do 


70,332 


10-11 

11 

11-12 

12 

12-13 

13 

13-L4 


do 

do 

do 

do 

do 

do 

-l" 

do 

do 

do 

do 

do 


6,000 
600 


171 
1 
2 
2 


209,040 

50 

1,U00 

12,000 


61 


75,617 






1 


400 


15 
15-16 


18 

1 


13,674 
3,972 


2 


3,200 









21 


8,229 
8,294 






18 


5 
2 


5,270 
875 


3 


1,550 




1 


300 








1 
1 


400 
600 


i 




8 

1 


1,924 
4,071 






do 













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





Average 
value of 
each 
incumbered 
farm or 
home. 


Average 

brance 
on each 

farm 
or home. 


Total 
annual 
interest 
charge. 


Average 
annual 
interest 
charge on 
each farm 
or home. 


Average 
annual 
rate of 

interest. 




$3,364 


$1,289 


$112,941 


$139 


10.82 




3,600 
3,171 


1,247 
1,324 


49,712 
63,229 


136 
142 


10.92 
10.73 




Cheyenne, Laramie county (for homes) 


4,264 


1,751 


22,956 


181 


10.32 


2,734 


1,154 


40,273 


127 


10.98