Hot Springs weekly star. (Hot Springs, S.D.) 1892-1917, 1895-03-01

hEED' Nl 81 their farms and
Anht homes and 1920 per
cent. pay rent. OF the farms or homes
200 per cent. are entirely free from in
cumbrancc and 27.97 only of every 100
rest under mortgages. These mortgages
represent but $3.50 per rent. of the value
of the property, and the average rate of
interest paid upon them is GIGS per cent.
per mum. The average value of the In
numbered farms or homes is $3,352, the
average amount of the mortgage is ST.
257, and the average interest charge is
$TT3.50. 1t is shown also that the greater
portion of the mortgages represent de-
ferred payments of purchase money. The
remainder represents permanent improve.
mcnts, farm machinery, stock and other
investments that add to the value of tho
property. Very few mortgages are the re-
suit of misfortune or i~mprovidence.
In the new States of the West are found
the largest percentage nf people who own
the farms or homes they occupy, and the
smallest number are found in the South.
In Illinois the average of ownership is
nearly 2 per cent. above the average for
the entire country-viz., 4o.6G per cent. of
the population own and 5O.S4 per cent.
rent. In Indiana the condition of the pco-
pie is somewhat better, the percentage
of ownership being 1852. In Wisconsin
it is still better, where the percentage of
ownership is 6S.S5; in Michigan, G3.12;
in Iowa, CHS, and in Minnesota, 64.94.
The highest percentages of ownership
are found in Oklahoma, $3.50; North Da-
kota, 7S.16; South Dakota, 1928, and
Idaho, 11.1G. The lowest percentages Of
ownership are found in Louisiana, 29.5G;
Alabama, 334.G4; Delaware, 37.9S;
Georgia, 31.43; Rhode Island, 29.G2, and
South Carolina, 2S.71..
Many Farms in Ohio.
The statistics show that Ohio has the
largest number of farms of any State in
the Union, 256,264; Illinois comes second,
252,953; then Missouri, 25O,S332; Texas,
24S,7S2; New York, 22G,632; Pennsylva.
mia, 211,472; Iowa, 2O5, 4355; Indiana. 2O5,-
S31. No other State has more than 2OO,-
0U. The percentage of ownership in
farms is largest in the North and West,
us is the percentage of homes also. With
out including Oklahoma, where the. con-
ditions were scarcely settled enough when
the census was taken to make a fair COM
parison, Maine stands first Us a frec-farm
State. There % out of every 100 of the
farmers own the places ON which they
live. Utah is second, with a percentage
of 9O.67. and the next highest States come
in the following order:
Per Per
State. cent. State. cent.
North Dakota .0O.1OI Massachusetts S4.9l
N. Hampshire. .S9.OSI Nevada ....... SS33.SS
Idaho .......SS.57 South Dakota. .SS33.S1
New Mexico. SIS. is Vermont 500. Ss333
Wisconsin 90. 5000 Michigan $3.50
Montana .... SG.GOlConnccticut ? 3.
Minnesota ...S4.95E Washington ...S1.59
In the matter of mortgages. however.
the percentage is much smaller in the
Southern States than it is in the North
and West. In fact, the difference is so
great as to be phenomenal. AS has been
stated above, 27.97 per cent. of the farms
and homes in the United States are mort
gagged. That is the average for the whole
country, but in Georgia the percentage is
only 3.1S, in Tennessee 3.S7, in Floridn
8.63, in Alabama 3.9S, in Louisiana 3.94.
and in the other Southern States it is pro.
portionately small. The highest percent
age of mortgages is found in South Da.
kota. where only tifty-one out of every
Wv lSOpiS OMu luclE 1urWS OF
houses without incumbrance. Kansas
and Nebraska come very close to the
maximum, and, strange to say, North Da.
kota and New Jersey have almost the
same percentage, the former showing
1912 per cent. of incumbered farms and
homes and the latter 1854. In Illinois
EGGS per cent of the farms and homes
carry mortgages, in Indiana 29.722, in Iowa
10 An in Ni<h;vor Al On L. Nf.---A-
42.47 and in Wisconsin 1896. 1t is an
interesting fact that Utah has the small
est percentage of mortgaged farms and
of any Northern State, 92.67 per
cent. of the owners there being absolutely
without incumbrance. In Washington.
also. the proportion is very small COM
pared with other new States, the percent
age of mortgages being ~23.45-less than
in Massachusetts, New York. Pcnnsyl.
vania, Ohio or any other of the Eastern
States.
Mississippi Mortgage Ridden.
In Mississippi the farmers suffer more
from the mortgage evil than in any other
State, and only 81 per cent. of their homes
are free. South Carolina comes next with
1851 per cent; Georgia, 41.9O; Alabama,
43.15; Louisiana, 44.99, and Delaware.
5O.5S. In Illinois 63 out of every 100
farmers own their homes, in Indiana 7O.75
and Iowa 70.43. The lowest rate of farm
mortgages is found in the following
States:
Per Per
State. cent State. cent.
Florida .......2.95I Louisiana ......4.OO
New Mexico. 200 Kentucky .....4.O8
Virginia ......3.16! Dist. Columbia Alb
Tennessee .....3.21l Arkansas ......4.18
Georgia .......3.3SIAlabama ..... Abs
The highest rate of farm mortgages is
found in Kansas-55.48. Iowa stands
second, with $500 per cent, and the
other highest States in the following or
der: South Dakota, 52.SS; Nebraska,
51.90: Michigan. 48.35: New Jersey,
1891; North Dakota. 1857; Minnesota,
1890; Vermont, 4.35; New York, 44.17;