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EXTRA CENSUS BULLETIN.

, 1894,

September 24

No. 80.

WASHINGTON, D.C.

STATISTICS OF FARMS, HOMES, AND MORTGAGES.

OWNERSHIP AND DEBT IN SOUTH DAKOTA.

DEPARTMENT OF THE INTERIOR,
Census OFFICE,
Wasuineton, D. C., September 3, 1894.
Sir:

The leading results of the investigation of farm and home proprietorship in South Dakota, conducted by Special
Agents George K. Holmes and John S. Lord, are contained in this bulletin. In regard to farms, the conclusion is
that 16.19 per cent of the farm families hire and 83.81 per cent own the farms cultivated by them; that 52.38 per
cent of the farm owning families own subject to incumbrance and 47.62 per cent own free of incumbrance. Among
100 farm families, 16 hire their farms, 44 own with incumbrance, and 40 without incumbrance. On the owned farms
there are liens amounting to $15,481,634, which is 38.56 per cent of their value, and this debt bears interest at the
average rate of 9.52 per cent, making the average annual interest charge $68 to each family. Each owned and
incumbered farm, on the average, is worth $1,846, and is subject to a debt of $712.

The corresponding facts for homes are that 45.12 per cent of the home families hire and 54.88 per cent own
their homes; that of the home owning families 63.16 per cent own free of incumbrance and 36.84 per cent with
incumbrance. In 100 home families, on the average, 45 hire their homes, 20 own with incumbrance, and 35 without
incumbrance.. The debt on owned homes aggregates $2,851,767, or 35.95 per cent of their value, and bears interest

-at the average rate of 9.49 per cent, so that the annual amount of interest to each home averages $65. An average

debt of $681 incumbers each home, which has an average value of $1,894.

There is only 1 city in the state, Sioux Falls, in the class of those having a population of 8,000 to 100,000, and
in this city 55.67 per cent of the home families hire and 44.33 per cent own their homes, and of the home owning
families 52.28 per cent own with incumbrance and 47.72 per cent own free of incumbrance. In 100 home families,
on the average, are found 56 that hire their homes, 23 that own with incumbrance, and 21 that own without
incumbrance. The liens on the owned homes are 31.44 per cent of the value of those subject to lien. Several
averages show that the rate of interest is 8.51 per cent; value of each owned and incumbered home, $3,738; lien
on the same, $1,175, and yearly interest charge on each home, $100.

Real estate purchase and improvements, when not associated with other objects, caused 38.34 per cent of the
farm families to incur 38.77 per cent of the farm debt and 66.97 per cent of the home families to incur 65.85 per
cent of the home debt.

Very respectfully,
CARROLL D. WRIGHT,
Commissioner of Labor in charge.
The SecRETARY OF THE INTERIOR.
Cc. O. P.—4im

2

FARMS, HOMES, AND MORTGAGES.

TABLE 1.—NUMBER AND PERCENTAGE OF FAMILIES OCCUPYING OWNED AND HIRED AND FREE AND INCUMBERED

FARMS AND HOMES.

PERCENTAGE OF
FAMILIES OWNING
AND HIRING.

| FAMILIES OWNING.

Families |

| PERCENTAGE OF FAM-

| ILIES OWNING FREE
AND INCUMBERED
OF TOTAL OWNING

|

| PERCENTAGE OF FAM-
| ILIES OWNING FREE
| AND INCUMBERED OF
TOTAL OWNING AND

eae ‘ FAMILIES, | HIRING FAMILIES.
CIVIL DIVISIONS, Aggregate. hiring. | |

en eee eta) S| | | | aa OW

Total Fr | Incum- || Owni | Hiri FP Incum- || F | Ineum-

otal. ree, ered | Owning. | Hiring. ree, baned | ree, Dencal

| \
The State 70,250 52,886 I 26,949 | 25 937 17,364 \ 75.28 | 24.72 50.96 49.04 | 38.36 36.92
— = | = L ENS
For farms. 49,540 41,521 || 19,771 | 21,750 8,019 || 83.81 | 16.19 47.62 | 52.38 | 39.91 43.90
For homes..............5 20,710 11,365 7,178 4,187 9,345 54.88 45.12 | 63.16 36.84 34.66 | 20.22
— ——— _ \|- = =| = = ——=
Sioux Falls (for homes).......... 1,782 790 | 377 413 992 44.33 55.67 47.72 02.28 | 21.15 23.18
—————— = =} 1) | = | = =

Rest of state (for homes)........- | 18 ,928 10,575 | 6,801 3,774 8,353 55.87 | 44.13 64,31 35.69 | * 35.93 19.94

TasLe 2.—VALUE OF FARMS AND

OF INCUMBRANCE THEREON.

HOMES OCCUPIED BY OWNERS AND INCUMBERED AND AMOUNT AND PERCENTAGE

Number ip i
| of families| ; ese stress
CIVIL DIVISIONS. owning Value. GES: Os Heath
atren a brance. brance
| with in- al |
cumbrance, | | OH VEL: |
| | | |
The'State.........-<-... | 25,937 | $48,080,732 | $18 333 401 | 38.13
On TAM Ssrasseceswsevecerccs 21,750 40,148,585 | 15,481,634 38.56
| For homes...... .........00 4,187 7,932,147 | 2,851,767 35.95 |
| Sioux Falls (for homes)..... 413 | 1,543,608 485,250 | 31.44
| ry me Eee se
| Rest of state (for homes)... 3,774 6,388 539 | 2,366,517 | 37.04 |
| |

OWNERSHIP AND DEBT IN SOUTH DAKOTA. 3

TaBLeE 3.—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 | | Average
| value of NETS Total annual Average
Om DRAGON | each in- epee annual interest | annual
INPLH WINANS, | cumbered meee on | interest | charge on rate of
| farm or pane um charge, |each farm interest,
| home. Oe OTs | or home.
| |
The State.............. $1,854 $707 +($1,744,743 | $67 9.52
| = —
Wie TERT ss cccomnccepecrecs | 1,846 712) 1,474,185 68 | 9.52 |
For homes ...............+- 1,894 | 681 | 270,558 | 65 9.49
| Sioux Falls (for homes)..... 3,788 | . 1,175 41,282 100 8.51
| >
Rest of state (for homes)... 1,693 | 627 229 , 276 61 | 9.69

Tas_e 4.—PERCENTAGE OF FAMILIES OCCUPYING OWNED AND INCUMBERED FARMS AND HOMES AND OF AMOUNT
OF INCUMBRANCE THEREON, BY RATES OF INTEREST.

THE STATE. |
FOR HOMES IN
CITIES OF 8,000 TO

100,000 PEOPLE.

if
|
|
Forfarms, | For homes. |
RATES OF INTEREST. I
| Hor || For | For |
£ number For | number For ee | For
of | amount. of amount, Nae | amount,)
families.) families. | een |
| \_
| | |
| Under 6 per cent.............-. 0.28 | 0.46 0.19 2740 | |breqccronnetie bsosccencetece
6 per cent....... 0.97 1.22 3.30 | 3.14 3,63 4.87
7 percent. 3:60) Me Ses7 | 4290) |) 5-83 | 11.38 | 10.67
8 per cent. «| 10:70 11.09 14.52 15.54 || 25.67 | 25.12
6 to 8 per cent, inclusive.... 16.33 | 17.37 || 238.58 | 26.62 43.83 | 45.85 |

Over 6 per cent.
Over 8 per cent...
Over 10 per cent.. a i | |
Over 12 per cent. .e..s--.| 1.61 | 1.80 || 2.27 | 2:82 |) 0.24 | 0.02 |

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