Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1892-08-02

subiees. on thu average. tc . debt Of
A53s II has been discovered that
1911 per cent Of the farm families IN
CURED ~ Il per cent. Of the farm cent 10
secure purchase money, To pay tor lni-
usoysments. to invest in business and to-
buy varion. articles of personal proper
when ,isese objects are not associated WIN
o&hers.
In a summary of conclusions in regard to
homes. home families and home debt Tor
Maine. II nav be stated that 4s-tc per
cen. Of TIN. home families own and 81 .se
Nc, cent. hire the homes they occupy; that
Is n. pr cent. of the home owning FAINT
lies own free of ineamhrsnce, and Elsa
per cent With incumbrsnee, and that 5sis
per cent. of the total number Of home own
ing and hiring fsmilies own free Of ineum-
branee and 1925 per cent. with inenm
brance. A debt of 30, iso-.s6 incum-
bers homes occupied BY owners.
AMI this is 1924 per cent OF
their value. The average rate of interest
on this debt is s-06 per cent. and conse-
ausnliy the average annual interest charge
10 each family occupying and owning an
ineumbered home is S4l. The average IN
numbered home occupied BY an Owning
family is worth 81 $50 and is incumoered
for s6si.
OF the families occupying and owning in
numbered homes S3.9s per cent incurfed
~ .:,2 per cent of the debt TO secure pur-
chase money, to pay for Improvements 10
invest in business. and to buy various art-
cles Of personal property, when these Cd
iects are not associated with others
There are eight cities 10 the state having
a population Of from STA. in kockland to
sG 425 in Portland. These cities are Auburn,
Augusta. Bangor, Bath, Biddeford, Lewis
ton. Portland AMI Rockland. In these cit-
les 3s % per cent of the home raInihes own
and 81 - per cent. hire the homes that they
occupy NIB per cent OF the total ow nins
families own their homes free
of ineumbrance and ls.21 per cent
subject to incHmbranee, and 29.' j per cent
of the total number of home ownlng ana
hiring families own free OF REMEMBRANCE
and 6 81 per cent. own homes that are IN
numbered The Membranes on the
homes in these cities bears a slightly greater
ratio to the value of those that are
iucumbered than is the case with the
homes and farms of the state the
ratio for city homes being 1885,
per cent. The average rate of interest on
incumbered city homes is J.92 per cent.
which l. below the average rate poihe ny
the farms and homes of the State, and the
average annual interest charge to each fam
lily occupying and wFning an incumbered
home in these eight Cities is $50. The aver
age city home owned and lncumbered is
worth s2Sl2 and the average incumbrance
thereon is HOG.
Stated in the most concise way the facts
which were the chief objects of this inves-
tigaton are That in every leo farms on
the average, eight are hired, 20 are owned
under incumbrance and - are owned with
out incumbranee; that in every 100 homes
on the average - are hired, 10 are owned
under incumbrance and IS are owned with
out incumbrance; and that in the eight
cities previously mentioned, in every 100
homes on the average GA are hired, seven
are owned with incumbrance and - are
owned without incumbrance. WEBB.