Crawford avalanche. (Grayling, Mich.) 1879-19??, 1895-02-28


t--ZEa homes in cities,
E@ wsz"rw towns and vii
s@=:9FNl s@:9 as.se lass5- per oi esns. 'ns 'ssa! s%a
HyII W. dlA' II III: their farms and
III ahR homes and $500 per
cent. nav rent OF the farms or homes
1908 per cent. are entirely free from in
cumbrance and 2T.97 only of every 100
rest under mortgages. These mortgages
represent but $3.50 per cent OF the value
of the property, and the average rate of
interest paid upon them is 6.65 per cent.
per annum 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
$T3.59. 1t is shown also that the greater
portion of the mortgages represent de-
ferred payments of purchase money. The
remainder represents permanent improve.
ments, farm machinery, stock and other
investments that add to the value of the
property. Very few mortgages are the re-
suit of misfortune or improvidence.
In the new States of the West are found
the largest percentage of people who own
the farms or homes they occupy, and the
smallest number are found in the South.
nearly 2 per cent. above the average for
the entire country-viz., 49.66 per cent. of
the population own and 50.34 per cent.
rent. In Indiana the condition of the peo-
pie is somewhat better, the percentage
of ownership being 57.52. In Wisconsin
it is still better, where the percentage of
ownership is 6S.S5; in Michigan, 63.12;
in Iowa, 63.1S. and in Minnesota, 64.94.
Tho hiUhasf IN 0ao IF ownarabip
are found in Oklahoma, $3.50; North Da-
kota, 1916; South Dakota, 1928, and
Idaho, 71.76. The low est percentages of
ownership are found in Louisiana, 1856;
Alabama, 34.64 Delaware. 37.9S;
Georgia, 31.43; Rhode Island 2962, and
South Carolina, 2S.T7..
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,S32; Texas,
24S, 7S2; New York, 226,632; Pennsylva.
MIA, 211 ,472; Iowa, 205, ,435; Indiana, 205,-
331. No other State has more than 2OO,-
600. The percentage of ownership in
farms is largest in the North and West,
rs is the percentage of homes also. With
out including Oklahoma, where the con-
ditions We're scarcely settled enough when
the census was taken to make fair com
parison, Maine stands first as a free-farm
State. There 92 out of every 100 of the
farmers own the places on which they
live. Utah is second. with n percentage
of 90.67, and the next highest States come
in the following order:
Per Per
State cent .State cent
North Dakota 80. 10 Massachusetts S4.94
n. Hampshire .S9. .0S Nevada ... .S3.SS
Idaho ...... 1857 South Dakota. 1881
New Mexico. .SS. IS Vermont -. .S3.3S
Wisconsin -. $500 Michigan :. $3.50
Montana 49,. SO. CO. Connecticut ...S2.32
Minnesota 80 .S4.95l Washington ..S1.09
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 Florida
1853, in Alabama 3.9S, in Louisiana 3.04,
and in the other Southern States il is pro-
age of mortgages is found in South Da.
kota, where only fifty-one out of every
one hundred people own their farms or
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
45.42 per cent. of incumbered farms and
nd h< LATE In,
32.6S per cent of the farms and homes
carry mortgages, in Indiana 29.72, in Iowa
42.4O, in Michigan 4O99, in Minnesota
42.47 and in Wisconsin 1896. 1t is an
interesting fact that Utah has the small
est percentage of mortgaged farms and
homes 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, Pennsyl-
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. 41.00; Alabama,
43.15; Louisiana, 44.99. and Delaware,
50.5S. In Illinois 63 out of every 100
farmers own their homes, in Indiana 1O.T5
and Iowa 7043. The lowest rate of farm
mortgages Is found in the following
States:
Per Per
State. cent. State. cent.
Florida $50. .205 Louisiana :. -. 400
New Mexico. 200 Kentucky -. .4.06
Virginia ..3 16 Dist. Columbia. Alb
Tennessee .....3.21 Arkansas AIS
Georgia ...... .3.3SI Alabama ..... .4.35
The highest rate of farm mortgages is
found in Kansas-55.4S. Iowa stands
second, with $500 per cent, and the
other highest States in the following or
der: South Dakota, 52.SS; Nebraska,
b1.g9; Michigan. 49.35: New Jersey,
4S.y1; North Dakota, 4S.67; Minnesota,