The Bennington banner. [volume] (Bennington, Vt.) 1858-1894, 1889-07-11
WESTERN MORTGAGES.
Interesting Figures From the Illinois Bu-
reHu ofLabOr Statistics.

Interesting Figures From the Illinois Bu-
reHu OfLabor Statistics.
The fifth biennial report of the Illionis
Bureau of Labor Statistics is notable Z r
its inquiry into hestatistics of mortgage
Indebtedness. 1t was found impossible
20 determine with any degree of accu-
racy what amount of foreign capital was
invested in Illinois mortgages, owing to
the fact that the mortgages executed to
non-resldent3 do not constitute all, OF
any ascertained proportion, of the mort
cages held by that class as mortgages
m de to resident monty lenders may be,
and frequently are, transferred to the
capitalists or companies of other states,
and no records are made of the transac-
tion, The .ascertained amounts loaned
from the states of Connecticut, New
York and Wisconsin constitute 81 per
cent. of the total. Next to these states,
the greatest amounts for investments
come from Vermont, Pennsylvania, Mas.
sachusetts. Missouri and Ohio. The av-
erage term for which mortgages to nom
residents are given is 1896 years. The
aggregates of outside mortgages in force
are 1876 for the total sum of $41,574,-
557, and secured by 81, ,417,7 ,791 acres Of
land and $3.50 lots.
Building and loan associations placed
6733 mortgages during the year of 1887
for the gross sum of $7,264 ,446. The
total number of these organizations now
in the state is 4S2, more than one half
OF which came into existence during the
last three years. The total number of
chattel mortgages executed IN the state
during the year 1888 was 62. 1858. for the
aggregate sum of $17, 1857, ,173, the vari-
GUS periods for which they were given
averaging IA ,322 months. Amounts on
live stock and farm implements were
81, ,0S9,0 ,002, on machinery and tools $2,-
01S, ,345.
The statistics of all mortgages and to-
tails of existing Indebtedness for the year
1887, gives the number of mortgages of
lands as 92,777 amounts $147 ,320, ,054;
acres, S,0S2, 7S4. The whole number of
chattel mortgages is 74,740; amounts
S22 1854, lS7 The total value of all mort
cages, lands, lots and chattels, is $416,-
379, ,O6S. Although mortgages are found
on the records executed to residents of
35 states and to residents of 12 foreign
countries, the sum total constitutes only
seven per cent. of the total number and
II per cent of the total amount of the
mortgages made by the people of Illinois.
1t is obvious that large portion of the
m 1rtgi e. Indebtedness held by non-resi-
dentists nominally in the hands of Illinois
citizens.
AS to the relative value of lands in the
state in 1888 and 1887, there are no sta
tstics but some efforts has been made
toward obtaining information on the
probable facts as may be derived from
concensus of opinion. The result from
such Investigations has shown that esti-
mates from 6! counties, containing COL
lectively 20 S2S S74 acres, indicate de-
cline in the values of land in counties
that have sustained failures in crops
from droughIs, etc, the exceptions be-
Ing in localities where railroads have been
built, Actual values in the richer coun-
ties, which suffered from the effects of
previous to 1880, are reported
as substantially unchanged from those
of that year. By taking the percentages
of gain or loss in the acreage values re-
ported, emitting counties in which the
value remains unchanged, a net gain is
shown, constructively for the whole
state, of go per cent. since 1880. As in
stances of very marked changes in values
the lands in Mclean county are reported
to have gained at least IS per cent. since
1880, and on the other hand critical
observer and long resident of Madison
county believes the value of farm lands
in that country have deprecated 33 per
cent. during the same period due to emf
grafton and crop failures.