The Coconino weekly sun., 1893-11-09
Arizona Homes and Debt.


 In Arizonain the year covered by the census report there were 13,495 fami- lies, of whom 6,635, or 49.17 per cent. hired their homes and 6,660, or 6O.S3 per cent. owned them. Of the owning families S4s, or 6.07 per cent. had farm or home incumbrances, and 6,5l2, or 94.93 per cent. were free of incum- brances. The families numbered 2,299, or l7.O4 per cent. of the total pumber of the families. Of the farm families l.S42, or s0.l2 per cent. owned and and 457, or 1888 per cent. hired the farms cultivated by them, while of the owning families 126, or 6.S4 per cent. had encumprances on their farms, and l,7l6, or 9S.16 per cent. had no in- cumbranccs. Iu 1880 1917 per cent. of the farms were hired, 50 that there was au apparent relative increase of farm tenancy during the decade. The home families numbered 1l,l96, or S2. 96 per cent. of the families of the territory. Of these 6,l7s, or 65.1S per ceut. hired and 5,0lG. or 44.S2 per cent. owned their habitations. The families owning free of incumbrauce numbered 4,796, or 95.5s per cent. of those owning. while the families own ing subject to iucumbrance numbered 222, or 4.42 per cent.
 The liens incum bering the S4S owned farms and homes of the territory amounted to s4s5, 7S0, of which s225,- 626 was l25 farms and S260, 104 on 222 homes. The incumbered farms were valued at s556,379, and the homes at S733, 635, a total of Sl, ,290.014. The ratios of debt to value were 40.55 per cent. in the case of farms, and S5.45 per cent. in the case of homes. Tho average owned and incumbered farm of the territory was worth s4.416. and the average home $3,305. The average farm incumbrapce was S1,70l, and the average home incumbrancs SLIP. The chief rate of interest in the territory was 12 per cent. Rates higher than this however. were paid by 46.o3 per cent. of the farm debtor families of 27. 75 per cent. of the farm debt and by 5I66 per cent. of the home debtor families on 36.53 per cent. of the home debt. The highest rate reported was S6 per cent, which was paid by two homes on II debt of s550. The total interest charge for one year ou the debt incumbering the owned farms of the territory was $28, 449, and that on homes $35, OPP, a total of $63, ,46S. The average interest charge for one year on each farm was S228, and on each home $15S. The av- craze rate of interest was 12.61 per cent. on farm loans, and IS 46 per cent. on home loans. The average in terest value of each owned and incum- berod farm was $557, and of each home $445.
 The census bureaus investigation into the rc asons why farm and home in- debtedness was incurred discloses the fact that 3l.75 per cent. of the farm debtor families of the territory incurred 3l.96 per cent. of the farm debt for the purpose of buying real estate and making Improvements, when these were not associated with other objects. and that for the same objects, In the case of homes, 63.07 per cent. of the home debtor families incurred 53.O7 per cent. of the home debt. The objects of real estate purchase and improve ments, business and the purchase of personal property. when not compli- cated with other objects, led 56.35 per cent. of the farm debtors families of the territory to incur 71.05 per cent. of the farm debt, and 82. A per cent. of the home debtor families to incur 90. GO per cent. of the home debt Farm and family expenses, standing alone, are represented by 1867 per cent. of of the farm debtor families of the terpi- tory and TIT per cent of the farm debt, f'mily expenses by 4.95 per cent, of the home debtor families and 02 DOT cent. of the home debt.