The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1895-03-13
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J. w. ABRAMS.
MORTGAGE FORECLOSURES.

More statistics Given Out by the Min~ssoes
Bureau Of Labor.
ST. PAUL, March l3.-The state bu-
of labor has finished its investiga-
ton Of the mortgage indebtedness and
mortgage foreclosures in Minnesota. In
addition to the conclusions already given
to the pnblic it reports that the mort
gage debt ON farms used a. homes IN
Minnesota Jan. 1, 1890, was $37, zoe, 574.
Mortgages upon other farms approx
mated $1,000, 900, making . total farm
mortgage debt of about ts9, zoo. 900.
This debt had increased in 10 years
about three or four million dollars, but
the farmers meantime had added to
their $685.. $50 in farming
implements and machinery, $26, $40, S62
In livestock and $146, S2O, 1862 in land
values. The farm debt had greatly de-
creased in the southern part Of the
state and increased in the newer cpun.
ties.
City Property Foreclosures.
The foreclosures in the state upon city
property have greatly increased since
1880. Thus the foreclosures upon this
class of property in the years 1880 and
1881 were SOL in number, involving
$3.50, l54 in amounts and covered 1,846
lots sold. The corresponding foreclo.
ures of 1899 and 1898 were 6 .168. in
volving $14, sos ,634 and covered 1896
lots sold. This increase in the value of
city lots sold by foreclosure to l6. 5
times the proportion IA years before
stands in marked contrast with the in
crease of foreclosures upon acre prop
erty. Those foreclosures were in 1850
and 1881, 2,345 in number. involving
~. ass, 9l8 and covering 269, 52s acres.
In 1892 and 1893 they were 2,O29, in
volvis 8 s, l78. 856 and covering 3O3, $40
acres. Here II . decrease in foreclos-
ures on acre property Of 1875 per cent
rs contrasted with the increase of 1872. 2
par cent on city lots.
: Many wsrs Speculative.
But many Of the acre foreclosures
were on speculative and business prop.
erty. In fact over half OF these fore
closures in 1892 and 1893 were Of this
nature. e5h
Mr.. Powers summarizes the conclu-
sions embodied in his report, drawn
from the facts n above shown that the
foreclosures on farm and acre property
in the agricultural counties Of the state
in 1892 and 1893 were relatively 40 and
80 per cent smaller in number, and in
the acres and amounts involved than in
1894 and 1896, 10 years before.
1.-THE facts gathered by the bureau Of
labor indicate that the farm mortgage
debt has, since 1858. gradually become a
smaller and less crushing burden for
the average farmer to bear. Crop fail
ure, by the Introduction Of diversified
farming, has ceased to be a. great q fac
tor for evil as it was from 1879 to 1881.
Variation in wheat prices a . disturb
ing factor is becoming Of les and less
importance.
THE extension Of the practice Of Inn
proved methods Of agricpltqre into thu
new parts Of the COMMONWEALTH Ma
subject Of supreme impoetapca..s Any
agency that win aiA Rrfd11tsring and
developing such ;diyersined farming =
y suited "a the hosth 81 best II }hs
ltate win theFefqre become xsrest no
u Il assisang 81 fsieRG2 raacing fhs
rslatiys speunt II negtta.4 sorsclos.