Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1898-06-02
"A Few Plain Facts"

corder further in regard to the whole
story his books show we would have the
reverse of prosperity item. He says
as the REPUBLICAN is gold bug paper
it does not want to show the calamity
side of the question. He then gives at
length figures which he has collected
from the recorders office in which he
tries to establish the fact that mortga-
ges in Audubon county are on the In
crease in number and are also becoming
larger in average amount Mr.. Wolfe
ends his article by saying "lf the Re-
PUBLICAN is searching for prosperity it
can only be found in spots in the loan
offices, saiaried officers and government
contractors just now, but general pros
perity is not to be found any nearer than
Mexico"
1t is very evident Mr.. Wolfe's eyes
are open only to see calamity. None
are SO blind as those who will not see.
One who thinks Mexico paradise COM
pared with our country doesn't realize
the blessings he has. We respect Mr..
Wolfe's right to his opinions even if we
dislike them.
Assuming that his figures are correct
in that real estate mortgages have great
ly increased since 1858, the time to
which he goes back, we would not con-
clude that therefore times are getting
harder. According to his figures there
were but few mortgages recorded from
1858 to 1868, at no year being as many
as one hundred, but that about 1868
they began to increase until 1879 when
they had reached 466 in a year. Then
in 1880 they jumped to 1911 and since
then they have been in the neighbor,
hood of 1000 to ] 200 each year. Now
we would think the reasonable expla-
nation for this increase in mortgages
given lies in the fact that Audubon
county has been developed since 1858
to the present date, and not because
times have been getting harder and be-
cause of the gold standard. When Audi
bon county was open as wild domain and
land worth dollar or two an acre and
but little even entered, it is not likely
either many or large mortgages would
be given. The progress of the mort
gage record marks the development Of
the county When the railroad came in
about 1880 and land doubled in price in
year then times doomed and almost
everybody bought farm and went in
debt for it and gave a mortgage.
While we cannot agree with Mr..
Wolfe in his conclusions if his figures
are correct, neither can we agree with
him in his figures. We only examined
the recorders books back for a few
years as we think that the earlier mort
cages were put on as the country was
being settled. Taking the years 1895,
'96 and '97 we find, according to the re-
corder's fee and registry book which has
a summary of all his business, there
were recorded 644, $50, and 600 real es-
tate mortgages respectively instead of
116S, 1871 and 1897 as stated by him.
BY the same book we find the first quar-
ter of 1898 to show less number of
real estate mortgages filed for record
than In either '95, '96 or '97. In the
first quarter for '95 they were 254, in '96,
25s, in 81, 261 and in '9S, 2O3. This
does not show that Audubon county is
becoming more heavily mortgaged.
Likewise the fee book shows the re-
leases to be much larger the first quar-
ter of this year than the first quarter of
either of the three years above mention
ed. The first quarter of '95 they were
164, of SO, 155, of '97, 126, of '98, 172.
These do not include marginal releases.
From the above figures it will be seen
the first quarter of this year shows more
releases than usual and it also shows
less new mortgages made than common.
Do we need better indication of good
times?
Mr.. Wolfe says chattel mortgages are
also on the increase and gives figures
saying in '95 there were 1854 recorded,
in '96, 1881. in '97, 144S, and in the first
quarter of '98, 418. The fee book does
not show these facts, but it shows that
in '95 the chattel mortgages were 656,
in so, 697, in 81, ia. It also shows that
in the first quarter Of '95 there were 254
chattel mortgages recorded, first quarter
of '96, BIT, first quarter of '97, 287, first
quarter Iof '98, only 155, thus showing
in the first half of 1898 very consider
able decrease in chattel mortgages, and
adding just one more positive sign of
smiling prosperity for all those who will
see.
Mr.. Wolfe also argues that the average
size of the mortgages in Audubon
county is larger than they ordinarily are
thus claiming another big calamity sign
is plainly visible. In proof he says book
20 of mortgages shows the average size
mortgage recorded in it to be 81 500. AS
book 20 contains the forms used only by
one loan company it would not be fair
examination If only that book were ex-
amined. In book % which contains the
common forms in the real estate mort
cages recorded, in the first quarter OF
the year they only average 1878 each.
Also in book G. the mortgages recorded
to date this year only average $3.50 each.
We have used care to give what
figures we have given correctly and the
county records are open to inspection.
We think Mr.. Wolfe's examination has
not been carefully made and that he has
arrived at very many erroneous con-
illusions.
We "sorter" hate to call attention to