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Full text of "Extra census bulletin"

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Apr. 1^9 




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94 



Digitized by the Internet Archive 

in 2010 with funding from 

Boston Public Library 



http://www.archive.org/details/extracensusbulle68unit 



Extra Census Bulletin. 



No. 68. VV^ASHINGTON, D. C. March 31, 1894. 



STATISTICS OF FARMS, HOMES, AND MORTGAGES. 

OWNERSHIP AND DEBT IN VIRGINIA. 



DEPAETMENT OF THE INTERIOR, 

Census Office, 
Washington, D. C, March 15, 1894. 
SiE : 

The leading results of the investigation of farm and home proprietorship and indebtedness in Virginia are 
contained in this bulletin. In regard to farms, the conclusion is that 38.06 per cent of the farm families hire and 
61.94 per cent own the farms cultivated by them; that 3.16 per cent of the farm owning families own subject to 
incumbrance and 96.84 per cent own free of incumbrance. Among 100 farm families 38 hire their farms, 2 own 
with incumbrance, and 60 without incu^mbrance. On the owned farms there are liens amounting to $3,394,303, 
which is 47.60 per cent of their value, and this debt bears interest at the average rate of 6.06 per cent, making 
the average annual interest charge $79 to each family. Each owned and incumbered farm, on the average, is worth 
$2,747, and is subject to a debt of $1,308. 

The corresponding facts for homes are that 72.14 per cent of the home families hire and 27.86 per cent own 
their homes; that of the home owning families 95.93 per cent own free of incumbrance and 4.07 per cent with 
incumbrance. In 100 home families, on the average, 72 hire their homes, 1 owns with incumbrance, and 27 without 
incumbrance. The debt on owned homes aggregates $2,056,361, or 51.09 per cent of their value, and bears interest 
at the average rate of 6.32 per cent, so that the annual amount of interest to each home averages $67. An average 
debt of $1,056 incumbers each home, which has the average value of $2,067. 

There are 9 cities in the class of those having a population of 8,000 to 100,000, and in these cities 76.74 per 
cent of the home families hire and 23.26 per cent own their homes ; and of the home owning families 4.56 per cent 
ow-n with incumbrance and 95.44 per cent own free of incumbrance. In 100 home families, on the average, are 
found 77 that hire their homes, 1 that owns with incumbrance, and 22 that own without incumbrance. The liens 
on the owned homes are 51.97 per cent of the vakie of those subject to lien. The average rate of interest is 6.57 per 
cent; average value of each owned and incumbered home, $2,699; average lien on the same, $1,403, and average 
yearly interest charge on each home, $92. 

Real estate purchase and improvements, when not associated with other objects, caused 59.79 per cent of the 
farm debtor families to incur 49.33 per cent of the farm debt and 70.01 per cent of the home debtor families to 
incur 59.15 per cent of the home debt. 

Very respectfuUj^ 

CARROLL D. WRIGHT, 

Commissioner of Labor in charge. 

The Seceetaey of the Intebiok. 

C. O. p.— 3m 



STATISTICS OF FARMS. HOMES, AND MORTGAGES. 

OWNERSHIP AND DEBT IN VIRGINIA. 



HY GE0RGI5 K. HOLMES AND JOHN S. I.ORP. 



Selections from the results of the iavestigatiou of farm and home proprietoi'.ship and indebtedness in Virginia 
ai'e 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 tlie 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 propkietoeship. — Among the .304,673 families of the state there are 174,531, or 57.28 per cent of 
the total, that hire their farms and homes and 130,142, or 42.72 per cent, that own them. Of the families that 
own, 4,543, or 3.49 per cent, have farm or home incumbrance and 125,599, or 96.51 per cent, are free of incumbrance. 
In 100 families, on the average, 57.28 hire their farms or homes, 1.49 own with incumbrance, and 41.23 own 
without incumbrance. 

Farm pegprietgrship. — There are 132,790 farm families, which are 43.58 per cent of the total number of 
families. Of these 82,256, or 61.94 per cent, own and 50.534, or 38.06 per cent, hire the farms cultivated by them, 
while of the owning families 2,596, or 3.16 per cent, have incumbrances on their farms and 79,660, or 96.84 per 
cent, have no incumbrances. The average 100 farm families are composed of 38.06 that hire, 1.95 that own with 
incumbrance, and 59.99 that own without incumbrance. 

In 1880 29.52 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 
rej)resent farms and those for 1890 farm families, and this may somewhat affect the comparison. 

Home propeietgi»hip. — The 171,883 home families are 56.42 per cent of the families of the state, and are 
divided into the several classes as follows: hiring families, 123,997, or 72.14 per cent of the total number of home 
families; owning families, 47,886, or 27.86 per cent; families owning free of incumbrance. 45,939, or 95.93 per cent 
of the total number owning; families owning subject to incumbrance, 1,947, or 4.07 per cent of the owning families. 
Of 100 home families, on the average, 72.14 hire their homes, 1.13 own with incumbrance, and 26.73 own without 
incumbrance. 

City homes are hired in a greater degree than is found outside of cities. In the 9 cities of the state having a 
population of 8,000 to 100,000 there are 43,779 home families, of which 33,597, or 76.74 per cent, hire and 10,182, 
or 23.26 per cent, own their homes. Homes subject to incumbrance are occupied by 464 owning families, or 4.56 
per cent of the total owning families, and 9,718 families, or 95.44 per cent of the owning families, have no home 
incumbrance. In 100 of these city home families, on the average, 7().74 hire their homes, 1.06 own with 
incumbrance, and 22.20 own without incumbrance. In Norfolk 85.62 per cent of the home families hire their 
homes, and this is the largest percentage found among the 9 cities. Roanoke comes next with 78.74 per cent. The 
smallest percentage is 63.45 for Alexandria, and next to this is 71.43 for Petersburg. 

In the state outside of the 9 cities referred to 70.57 per cent of the home families hire and 29.43 per cent own 
their homes, 3.93 per cent of the home owning families own with incumbrance and 96.07 per cent without 
incumbrance, while among 100 home families, on the average, 70.57 hire their homes, 1.16 own subject to 
incumbrance, and 28.27 own free of incumbrance. 

Value and incumbrance. — Liens amounting to §5,450,(564 incumber the 4,543 owned farms and homes of the 
state that are subject to incumbrance, $3,394,303 of which is on 2,596 farms and $2,056,361 on 1,947 homes. The 
value of the incumbered farms and homes is $11,155,922 ; farms, 17,131,172 ; homes, $4,024,750. Ratios of debt to 
value : farms and homes, 48.86 per cent ; farms, 47.60 per cent ; homes, 51.09 per ceut. 

A debt of $650,805 incumbers 464 owned homes of the 9 cities containing a population of 8,000 to 100,000, and 
these incumbei'ed homes are worth $1,252,172, so that the debt is 51.97 per cent of the value. The debt incumbering 
the owned homes in the state outside of the 9 cities is 50.69 per cent of the value of the homes subject to the 
incumbrance. 

Y— - 3 



FARMS, HOMES, AND MORTGAGES. 



Average values and incumbrances. — The average owned and incumbered farm of the state is worth $2,747 ; 
home, $2,067 ; of each home in the 9 cities, $2,699. 

The average farm incumbrance for the state is $1,308; home, $1,056; home incumbrance in the 9 cities, 
$1,403. Eappahannock county has homes of the highest average value, namelj^ $9,460, and the least average value, 
$200, is in Powhatan county. In the state outside of the 9 cities the average home value is $1,870 ; incumbrance, 
$948. As before stated, all values are confined to incumbered farms and homes occupied by owners. 

Interest rates.— The chief rate of interest in this state is 6 per cent. This rate is paid on 97.00 per cent of 
the farm incumbrance by 96.03 per cent of the farm debtor families ; on 82.70 per cent of the home incumbrance by 
84.33 per cent of the home debtor families; in the 9 cities on 68.06 per cent of the home incumbrance by 67.89 per 
cent of the families occupying owned and incumbered homes. These percentages are contained in the following 
table, and the facts from which they were computed are exhibited in Table 3 : 

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



OF INTEREST. 



Under 6 per cent 

6 per cent 

7 per cent 

8 per cent 

6 to 8 per cent, inclu 

Over 6 per cent 

Over 8 per cent 

Over 10 per cent 

Over 12 per cent 



THE STATE. 



For num-l 
ber of 
families. 



0.31 
96.03 
0.27 
2.12 
98.54 
3.66 
1.15 
0.23 
0.04 



0.26 
97.00 
0.38 
1.23 
98.85 
2.74 
0.89 
0.06 
0.00 



For num- 
ber of 

families. 



84.33 
1.80 



94.45 
15.10 



0.10 
0.05 



0.97 
82.70 
4.47 
7.61 
94.78 
16.33 
4.25 
0.10 
0.03 



FOR HOMES IN 

CITIES OF 8,000 TO 

100,000 PEOPLE. 



For 
number For 

of amount, 
families. ' 



0.65 
67.89 

5.17 
17.46 
90.52 
31.46 

8.83 

0.22 



1.81 
68.06 

9.53 
13.41 
91.00 
30.13 

7.19 

0.23 



The highest rate reported is 16 per cent, which is paid by 1 home family on a debt of $500. 

The legislature of Virginia has limited the rate of interest as follows in the years named : 1730, 6 per cent ; 
1734, 5 per cent ; 1797, 6 per cent ; 1870, 12 per cent ; 1873, 8 per cent, but corporations not to interpose defense of 
usury ; 1874, 6 per cent. 

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 $205,594 ; on the homes, $129,934. Total, $335,528. 

The average interest charge for 1 year on each farm is $79 ; home, $67 ; on each home in the 9 cities, $92. 

On farm loans the average rate of interest is 6.06 per cent ; on home loans, 6.32 per cent ; on home loans in 
the 9 cities, 6.57 per cent. Hence the average annual interest value of each owned and incumbered farm, obtained 
by multiplying the average value by the average rate of interest, is $166 ; of each home, $131 ; of each home in 
the 9 cities, $177. Outside of the 9 cities the average annual interest charge on each home is $59 ; average rate, 
6.20 per cent; average annual interest value, $116. 

Objects of indebtedness. — Investigation of the reasons why farm and home indebtedness was incurred 
discloses the fact that 59.79 per cent of the farm debtor families of the .state incurred 49.33 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, 70.01 per cent of the home debtor 
families incurred 59.15 per cent of the home debt; in the 9 cities, that 73.49 per cent of the home debtor families 
incurred 66.08 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 67.53 per cent of the farm debtor families of the state to incur 58.82 per 
cent of the farm debt, 82.79 per cent of the home debtor families to incur 78.83 per cent of the home debt, and 91.37 
per cent of the home debtor families in the 9 cities to incur 91.40 per cent of the home debt. 

Farm and family expenses, standing alone, are represented by 15.14 per cent of the farm debtor families of the 
state and 12.05 per cent of the farm debt, family expenses by 7.19 per cent of the home debtor families and 3.98 
per cent of the home debt, and family expenses in the 9 cities by 6.25 per cent of the home debtor families and 2.29 
per cent of the home debt. 



OWNERSHIP AND DEBT IN VIRGINIA. 5 

Tahi.k 1.— number and PERCENTAGE OF FAMILIES OCCUPYING OWNED AND HIRED AND FREE AND INCUMBERED 

FARMS AND HOMES. 













1 


PEKCENTAGE OF 


PERCENTAGE OF 
FAMILIES OWNING 


PERCENTAGE OF 
FAMILIES OWN- 


CIVIL DIVISIONS. 


Aggregate, 


FAM 




xa. 


Families 
hiring. ' 


FAMILIES 


OWNING 


INCUMBERED OF 

TOTAL OWNING 

FAMILIES. 


INIUMDEEED OF 

TOTAL OWNING 

AND HIEING 

FAMILIES. 






Total. 


Free. 


bered. 




Owning. 


Hiring. 


Free. 


Incum- 
bered. 


Incum- 
" "^^^ bered. 




301,673 


130,142 


125,599 


4,543 


174,531 


42.72 


57.28 


96.51 


3.49 


41.23 


1.49 








132,790 
171,883 




79,600 
45,939 


2,596 
1,947 


50,534 
123,997 


61.94 


38.06 


96.84 


3.16 


59.99 


1.95 




47,886 


27.86 


72.14 


95.93 
95.44 


4.07 


26.73 


1.13 









43,779 
2,955 


10,182 
1,080 


9,718 
993 


464 


33,597 
1,875 


23.26 


76.74 


4.56 


22.20 


1.06 


Alexandria, Alexandria county 


87 


36.55 


63.45 


91.94 


8.06 


33.60 


2.95 


Danville, Pittsylvania county 


2,104 


461 


4.'i6 


5 


1 ,643 


21.91 


78.09 


98.92 


1.08 


21.67 


0.24 


Lynchburg, Campbell county 


3,893 


917 


890 


27 


2,976 


23.56 


76. 4t 


97.06 


2.94 


22.86 


0.7U 


Manchester, Chesterfield county 


1,672 


451 


451 


3 


1,218 


27.15 


72.85 


99.34 


U.66 


26.97 


0.18 


Norfolk, Norfolk county 


7,273 


1,046 


1,016 


30 


6,227 


14.38 


85.62 


97.13 


2,87 


13.97 


0.41 


Petersburg city 


5,048 


1,442 


1,369 


73 


3.606 


28.57 


71.43 


94.94 


5.06 


27.12 


1.45 


Portsmouth, Norfolk county 


2,561 


591 


553 


38 


1,970 


23.08 


76.92 


93.67 


6.43 


21. .59 


1.49 


Richmond, Henrico county 


15.625 


3,628 


3,535 


93 


11,997 


23.22 


76.78 


97.44 


2.56 


22.62 


0.60 


Koanoke, Roanoke county 


2,648 


563 


455 


108 


2,085 


21.26 


78.74 


80.82 


19.18 


17.18 


4.08 


Rest of state (for homes) 


128,104 


37,704 


36,221 


1,483 


90,400 


29.43 


70.57 


96.07 


3.93 


28.27 


1.16 



a In the state of Virginia cities have a varying degree of independence of the county. Petersburg has been returned by the 
The other cities have been returned as parts of the counties in which they are geographically situated. 



iierators independently. 



Table 3.— VALUE OF FARMS AND HOMES OCCUPIED BY OWNERS AND 
INCUMBERED AND AMOUNT AND PERCENTAGE OF INCUMBRANCE 
THEREON. 



1 

Number Percent- 

li^esoX- ,, mcum- ^^ 
CIVIL DIVISIONS. i„g,,i„, value. , ,,,„,,. ^mcum-^^ 

"'«'""- value, 
brance. 




4,543 811,155,922 ] $5,450,664 48.86 






2 596 7,131,172 3,394,303 '■ 47.60 




1 947 4,024,750 2,056,361 ' 51.09 






Nine cities (for homes) 

Alexandria, Alexandria county 

Danville, Pittsylvania county 

Lynchburg, Campbell county 

Manchester, Chesterfield county 

Norfolk, Norfolk county 


464 1,252,172 650,805 51.97 
87 144,015 70,491 48.95 | 

5 26,700 13,300 49.81 
27 67. .300 42,475 63.11 

3 11,300 2,300 20.35 
30 214,200 110,272 51.48 
73 91,881 49,923 54.33 
38 117,400 49,217 41.92 
93 483,375 i 201,100 ' 41.60 
108 96,001 1 111,727 j 116.38 


Portsmouth, Norfolk county 

Richmond, Henrico county 

Roanoke, Roanoke county 


1,483 2,772,578 I 1,405,.556 1 50.69 





FARMS, HOMES, AND MORTGAGES. 



Table 3.-SUMMARY OF NUMBER OF FAMILIES OCCUPYING OWNED AND INCUMBERED FARMS 
AND HOMES AND AMOUNT OF THE INCUMBRANCE THEREON, BY RATES OF INTEREST. 









THE STATE. 








RATES OF INTEREST. 


Total. 


For farms. 


For homes. 


100,000 PEOPLE. 




Number 

of 
families. 


Incum- 
brance. 


Number ^ 

of i ?,"'=""■ 
familie.s. oiance. 


Number 

of 
families. 


Incum- 
brance. 


Number 

^ Incum- 

families.! l'™"™- 




4,513 


$5,450,664 


2,596 ' $3,394,303 


1,947 


$2,056,361 


464 i $650,805 






per cent 

2 do 

3 do 

5 do 

5-6 do 


7 
1 
1 
9 
1 
4,135 
1 

42 
2 
217 
96 
23 
1 
5 
1 
1 


4,938 

400 

350 

20,650 

2,600 

4,993,109 

6,062 

104,799 

2,000 

198,137 

84,847 

28,695 

1,500 

2,110 

67 

500 


6 4,818 


1 
1 

1 

1 
1,612 


120 

400 

350 

16,650 

2,500 

1,700,630 










2 4,000 


2 9,250 
1 2,500 


2,493 3,292,479 

1 6,062 
7 12,920 

2 2,000 
55 41,642 

5 2,350 
19 25,855 


315 442,951 


6-7 do 

7 do 

7-8 do 

8 do 

9 do 

10 do 

U do 

12 do 

14 do 

16 do 




35 


91,879 


24 62,000 


162 
91 
4 
1 


156,495 
82,. 197 
2,810 
1,500 


81 87,287 
40 45,317 


1 1,500 


5 2,110 
1 67 




; r: 




\ 1 


500 









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



Average 
annual 
interest 

charge 
on eaclr 
farm or 

home. 



The State $2,456 

For farms ' 2,747 

For homes 2,067 

Nine cities (for homes) 2,699 

Alexandria, Alexandria county 1,655 

Danville, Pittsylvania county 5,310 

Lynchburg, Campbell county 2,493 

INIanchester, Chesterfield county 3,767 

Norfolk. Norfolk county 7,140 

Petersburg city 1,259 

Portsmouth, Norfolk county \ 3,089 

Richmond, Henrico connty 5,198 

Roanoke, Boanoke county I 889 

Restof state (for homes) I 1,870 



205,594 
129,934 



1,403 


42,744 


92 


6.57 


81 


4,207 


48 


5.97 


2,660 


798 


160 


6.00 


1,573 


2,519 


91 


6.00 


767 


138 


46 


6.00 


3,676 


7,479 


249 


6.78 


681 


3,135 


43 


6.28 


1,295 


3,899 


103 


7.92 


2,162 


13,818 


149 


6.89 


1,035 


6,691 


62 


5.99 


948 


87,190 j 


59 


6.20 



\