St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-04-22
MORTGAGE STATISTICS.
The Census Office Gives Out the
Figures for Alabama and Iowa

Figures for Alabama and Iowa,
WASHINGTON, April 2l.-The super
intendent of the census to-day made
public bulletin giving statistics of
mortgages in the states of Alabama
and Iowa. The bulletin shows that
the debt in force in the state of
Alabama, Jan. 1, 1890, was S39, O27, 1888.
of which S2S, 762, 1857, or 1870 per cent of
the total, is on acres, and 80, 265, $40, or
1880 per cent of the total, is on lots. The
total is obtained by adding the existing
debt on acres to the existing debt OH
lots, and is not obtained by COM
putation. A large proportion of the
debt on acres is due to investments in
mining and iron and steel manufacture.
The total existing real estate mortgage
Indebtedness of Iowa is S199, 1884, 956,
TAFT per cent of which. or S14S, S14, 645,
is on acres. and 1928 per cent, or $50
220,3l1, on lots. In Clinton county the
debt is SAT-, 84S; Des Moines
county, $685. O9; Dubuque county.
s., ,S34; Linn county, $4,61S, 40;
Marshall county. $2,6O7,902; Polk
county. Sl1,0S4, 161; Pottawattomie
county. S7,66l, 626; Scott county, S3,l21.-
002; Woodbury. county. S14,336, 955.
These are the principal counties in the
state, and their existing indebted
ness is 27.3S per cent of the
total Indebtedness of the state,
while their proportion of the states
age Indebtedness of S104 to one of popu-
latlon in the state. In Woodbury. coun-
ty it is S25S; in Lyon county 1867, and
in Osceola county sos. these ratios
being the highest in the state,
from which they descend to $50 for
Dallas county, which Is the lowest
in the state. The average life of a
mortgage in Iowa is 1893 years through
out the counties of Iowa. Partial
payments for the state represent 116O
per cent of the face of the indebted
ness on acres, 14.19 per cent on notes.
The computations necessary to show
the number of acres and lots in
numbered by the existing debt have
not yet been completed for these two
states, and considerable work remains
to be done before these results will be
known. The chief rate of interest in Ala
bama is represented to have been S per
cent, the recorded debt of the
ten years having borne rate
being $3.50 per cent of the to-
tai. The amount bearing interest at
per cent was 17.15 per cent of the
total the amount bearing interest at 7
per cent was 4.5T per cent of the total;
the amount bearing interest at II and
1875 per cent was 6.5 per cent of the
total. OF the total recorded debt of S9l,-
O99 623. 11.9 per cent drew interest above
10 per cent, SS.51 per cent drew interest
at 10 per cent, or less. Above per cent
interest is uSurious and has been so dur
ing ten years previous to Jan. 1, 1890.
luxurious rates are, or were, actually
paid on 1851 per cent of the recorded
debt. Interest at per cent is, or was.
paid on 1880 per cent of the debt of
Iowa recorded during the ten years
interest at per cent on2l.91 per cent of
the total: interest at 10 per cent on 1873
per cent of the total: interest at per
per cent on 12.SS per cent of the total:
interest above 10 per cent on .O2 of per
cent of the total. The legal rate
of interest is 10 per cent and
has been so for ten years
The bulletin further shows that in four
counties in Iowa. where thorough in
veStigation has been made, and which
is believed to be fair average of the
state, about 80 per cent OF the indebted
ness was contracted on account of
money, improvements and business,
and in Alabama about 90 per cent.