The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-11-27
HOME OWNERSHIP IN MAINE.
Farmers Better or Than City People
OF Per Cent. of All Are Tenants.


The $50, $50 families IN Maine are divided
by the census office into 62. 122 families oc-
cupying farms and IS, 233 families occupy
ing homes that are not situated on
farms. In summarizing the leading re-
suits of the investiga ton, the conclu-
sions are that 92.3S per cent of the farm
families own and 762 per cent. hire the
farms they occupy; that 1871 per cent. of
the farm owning families own free of in
cumorance and 100 per cent. own subject
to incumbrance; that 1897 per cent. of the
total number of farm owning and hiring
families own free of incumbrance and 20. IL
per cent. own subject to incumbranc. The
debt that incumbers farms occupied by
owners is Sc, 1922. or sc. So per cent of
the value Of the incumbered farms. This
debt bears an average rate of interest of
6.26 per cent, which makes an average an
nual interest charge of $33 to each family.
The average incumbered farm occupied
by an owning family is worth $i,449,
and is subject. on the average, to debt of
S532. 1t has been discovered that 99.1
per cent. of the farm families incurred
Sis per cent. of the farm debt to secure
purchase money, to pay for Improvements.
to invest in business, and to buy various
objects are not associated with others.
In summary of conclusions in regard
TO homes. home families and home debt
for Maine, it may be stated that 4S02 per
cent. of the home families own and 81 %
per cent. hire the homes they occupy;
owning families own free of lncumb-
rance and 2l.34 per cent. with in
cumbrance, and that 37.77 per
cent. of the total number of home owning
and hiring families own free of incum-
brance and 1925 per cent. with incum-
brance. a debt of Sc, 16o, 100 incumbers
homes occupied by owners. and this is
1924 per cent. of their value. The aver
age rate of interest on this debt is 6. 06 per
cent, and consequently the average an
nual interest charge TO each family occu-
plying and owning an incumbered
home is SAL. The average in
numbered home occupied by an
owning family is worth $3.50 and is in
cum Dered for 1851. OF the families occupy
ing and owning lncumbered homes Sc. %
per cent. incurred $3.50 per cent. of the
debt TO secure purchase money, TO pay for
improvements. TO invest III business, and
TO buy various articles of personal prop
erty, when these objects are not associated
with others.
There are eight cities in the state having
= population OF STA, in R0ckland. 10 36,-
40 IN Portland. These cities are: Au-
burn, Augusta. Bangor, Bath. BIddeiord,
Portland and R0ckland. In these cities
81. % per cent. OF the home families own
and 63.77 per cent. hire the homes
they occupy; 81. IS per cent. OF the total
owning families own their homes free of
incumbrance and lS21 per cent. subject to
iucumbrance, and 29GI per cent. of the
total number of home-owniug and hiring
families own free OF incumbrhuce ana q 80
per cent. own homes that are incumbcred
Tire inCumbranCe on the homes IN these
cities bears a slightly greater ratio to the
value OF those that are incumberei than
is the case with the homes and farms
OF the state. the ratio for city homes
beng 80 81 per cent. The average rate of
interest on incumbered city homes is 5 o.
per cent, which is below the average rate
borne by the farms and homes OF the state
and the average annual interest charge 10
each family occupying and owning an III
numbered home in these eight cities Is $o5.
The average city home owned and inrum-
bered il worth $2,SI2. and tue average
incumbrance thereon Is 81, lOG.
Stated IL the most concise way, the
facts which were the chief objects OF this
iuyesti CATION are thag III every 100 farms.
on the average, eight are hired. twenty are
owned under inCumbrance and seventy
two are owned without incumhrance; that
in every 100 homes, on the average, nifty
two ale hired. ten are owned under inCCm-
brance and thirty-eIC!It are owned without
inCUmhrauCe, and that n the eight cities
prov ouslv mentioned in every 100 homes.
on the average. slxtv-four are hired, seven
are owned wiki incamhrance and twenty
nine are owned without .ncum 5r3nce.