The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-11-17
GEORGIA MORTGAGES.
rbs Number Has Increased Greatly
in Recent Years.


washington, Nov. 16.-A bulletin re.
III issued by the census Office gives
~, Interesting facts concerning mortga-
IN Georgia. From this it appears
tsar the usual estate mortgages move
Inf in Georgia for ten years, from 1850
-,t,,q inclusive, was progressive one.
:. rev steadily, with some fiuctuation.
.lssot the amount of real estate mortga-
- was 50. 127,275. BY 1883 this had i'll
sod nearly three-fold, amounting to
Si 54o SOP. The amount rose to Sll BIB
Ssos in 1859. During this period the popu-
I,tiono of the state increased ~. IA per
rart but the mOrtgaged Indebtedness
;rl~eased 26I.S5 per cent, and the
nrrober of mortgages increased
nsS = per cent. The number of mortga-
COS in 1880 was 4,3S7; in 1889 it was
ii So. oo,,c ....,
4 debt of 81, 900, 6l3 was placed on acre
tracts during the ten years; or $3.50 per
cent of the total for acre tracts and lots
T5is amount was represented by 5,S4S
mortgages. which were 1853 per cent. of
The total number. III the annual amount
4 of mortgages on acres there were iuctua-
lions hut on the whole the incurred acre
debt increased from 81, S67 ,96S III 1880. to
:
numbered !. 353 in 1880, and increased to
l0.243 in 1899.
Of the total amount of real estate mort
GAGE debt incurred during the ten years,
4 ~ PSI, 457, or 1880 per cent. was on lots
The amount incurred in 1880 was 81, 80
an in 1889 it was s., 500, 039. The gain
4 in the number of mortgages of this kind
in 1859 over those of 1850 was 346Sl per
cent: in amount of incurred debt, 1926. IL
per cent.
During the ten years 1S130,372 acres
were encumbered by mortgages, number
inc 76. l49 but these figures cover the en-
tire time; they were not SO great in any
one YEAR In 1880 the number of acres en-
numbered was 793. 1856, and the number
rose to 2 29S. 46l in 1888. During the de-
cade, lots to the number of "a, 305 were en-
numbered by 1927 mortgages but this
was, of course, not in any one year. In
1850 there were, l 1894, and in 1889 there
we're 1901. This was an increase of
333 81 per cent.
The average amount of each mortgage
on acres made in the state during the
: decade, was $552; on lots, SlIS1. Each
mortgage on acres covered 23S acres on
the average; each mortgage on lots COW
cred l26 lots. An average debt of So 30
was placed on each mOrtgaged acre; an
average of S943 on each mortgaged lot.
The real estate mOrtgaged debt exist
ing Jan, / 1890, was S27, 3S7 $50, of which
Sl5 969 $50, or 81 90 per cent. was on acres,
and $lO4l7 ,903, IS "a per cent. was on lots
1t is an interesting fact that of this debt
- little over than One-ffth, or to be exact.
20 20 per cent. was in Chatham and Full
ton counties. In Chatham the total
amount was 50, 549, $40 of which 50, 152, 279
was ON lots, and SS91.26l on acres.
Fulton had the l9pUhet amount
514, of which -, 902, 796 was on lots and
'$2l1, us on acres. Only three other coun-
ties i'll the state reached up into the mil
Hons Bib, Cherokee and Richmond
Bibbs amount was 81, 096, IA, CherOkee's
'Sl ,5ll, 49l, and RichmOnd's 81 .076, 2SS. The
smallest Indebtedness was in Union coun-
ty-S2,14 "a, all Of which was on acres.
Gcorpia's per capita mortgage debt was
$l5, which is lower than any other state
that has yet been tabulated except Ar
Kansas, whose debt was only Sl3 per
capita Georgia s ratio of indebtedness
10 the value of all taxed real estate in the
state is $50 per cent. This is also lower
than any of the states yet tabu-
dated, except Arkansas, whose
patio is only 7.34 per cent.
The average amount of mortgage debt
iu force per assessed acre was so 46 !;
average amount per mortgaged acre 81 Is.
Glhe average value of each assessed acre
Nvas s. 30. The average number of acres
covered by each mortgage in force against
heres was pa. The average amount of
debt to each mortgage in force, 1864.
These statistics, interest ting as they
are, would be still more so if they had
been brought out promptly. 1t ought to
.be practicable to complete the publica-
|tiOn Of all census reports within twelve
months after the statistics are taken. 1t
bis TO be hoped that Carroll D. Wright,
who has charge of the completion of the
census, will set an example of promptness
(which may be imi tated by whoev0r has
charge of the taking of the next census.