Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1893-05-18

19, 749, or 40. 81 per cent; families owning
free Of incumbrance, IL, 464, or 60. IL per
cent Of the total number owning; families
owning subject to incumbrance, 1855, or
So. 50 per cent Of the owning families. OF
100 homo families, the average, 54.3
hire their homes, 1882 own with ineum-
brance, and 2S 10 own without incum-
brancc.
As would naturally he expected city |
homes are hired in greater degree than is
found outside Of cities. In Burlington and
Rutland, which sare the only cities in the
State having a population over IL, 900, hav-
ing population of Ia, 800 and II, $50, re-
spectively, there are 6332 home families of
which $685. or 5S.05 per cent, hire and
2287, or 41.95 per cent, own their homes.
Homes subject to incumbrance are occupied
by 1888 owning families, or as. 10 per cent
OF the total owning families, and 1904 fami-
lies, or 90. 90 per cent of the owning fami'
lies, have no home incumbrance. In 100 OF
these city homo families, on the average,
IS. 05 hire their homes, 49, 81 own with in
cumbrsncs, and 20. So own without incum-
brance. In Burlington 81. II per cent OF
the home families hire their homes and in
Rutland 5727 per cent
Taking the State as wdoIe, Of 100 home
families there are found on the average
IS who have their homes, 90 that own their
homes without encumbrauce, and 10 with
encumbrancs. The total debt on owned
homes aggregates s., 400, 10, or 1920 per
cent of their value An average debt OF
S754 incumbers each home, which has the
average value Of So, 026 The liens on the
owned homes are &c. 30 per cent of the value
of those subject to lien. Several averages
show that the value of each owned and in
cumberod home is s., POP; the lien on the
same, ST. 1872, ana yearly interest charge on
ench home, 500.
a debt of 81, 200, GG9 ncumbers /, 033
owned homes of Burlington aud Rutl and,
and these incunbered homes are worth 49,
30S, l94. SO that the debt is sc. 30 per cent
of the value The debt incumbering the
owned homes in the Stats outside of Bur
lington and Rutland is 81. 46 per cent of the
value of the homes subject to the incum
brauce.
Real estate purchase and improvements,
when not associated with other objects,
caused 50. g. per cent OF the farm families
to incur S3.7l per cent of the farm debt and
SOL per cent of the home families to incur
| 81. 10 per cent of the home debt.
Taking up the subject of interest n.loans
the bulletin states that the total interest
charge for one year on the debt lncumber-
ing the owned farms of the State is S103,
$40, on the homes, 1925, $50, making total
OF 81 ,O29, lSi. The average interest charge
for one year on each farm is $50; on home,
$40 and on each home in Burlington and
! Rutland 500. Ga farm loans the average
of interest ia D. So per cent; on home loans,
| 594 per cent on home loans in Burlington
and Rutland, 5.94 per cent. The average
annual interest value OF each owned and in
cumberel farm in this State is SAL; OF
each home Sl20; of each home in Burliug-
ton and Rutland, $3.50. Outside OF Bur
liugton and Rutland the average annual in
terest charge on each homs Is S4l; the
average rate is 5.94 per cent; and the
average annual interest value 500.
Tho enumerators found three cases in this
State where as high as l. pr cent interest
was paid and two of these on farms.
This announcement would suggest the
thought that it is not necessary to go West
in order to find large rates of interest on
farm mortgages, aud the wonder is how
tie mortgagors could afford this rate
However, the chief rate of interest in this
State is six per cent. This rate is paid on
So. 33 per cent OF the farm incumbrauce by
81. 10 per cent of the farm debtor families
on 81 o. per cent of the home incumbrance
by 80. "a per cent OF the home debtor fam
lilies; and in Burlington and Rutland on
IS. u per cent OF the home incumbrance
by SO. 81 per cent OF the families occupying
owned and incumbered homes. These figures
lilies constitute a very large portion OF Yer
mont's population, that the average debt i:
small and the people a whole are en- Joy
ing u gratifying degree of prosperity