Democratic Sentinel, Volume 21, Number 29, Rensselaer, Jasper County, 23 July 1897 — MORTGAGES OF INDIANA. [ARTICLE]

MORTGAGES OF INDIANA.

Intereatins Fig urea Compiled by the State Statistician. The bureau of statistics is receiving some interesting reports from county recorders upon blanks sent them for the purpose on real estate transfers, mortgages an<l satisfaction of mortgages for the year 1897, as compared with the same in 1896. The reports given below are from all sections of the State and from fairly representative agricultural counties. Here are the real estate transfers: Counties. 1897 1896. Adams $ 483.074 $ 541.264 Bartholomew 503.680 548.037 Clark 773,860 516.123 Clinton 1,158.644 1,343.910 Daviess 824.858 1.019.539 Warrick 357.078 395.666 Jefferson 307.620 352.405 Vigo 1,552.078 1.760.263 Henry 891.203 791,722 Lake 2.576.406 2.059.336 Miami 872.002 936.700 Steuben 490.731 505,357 Elkhart 1,220.742 1.873,101 Totals $12,012,676 $12,743,429 It will be seen that the transfers of 1897 show a decreased amount of consideration compared with 1896 of $730,753, or 5.73 per cent. The number of transfers are less than that of last year by 13.60 per cent. The transfers for both periods include warranty deeds, quit claim, executor’s, administrator’s, guardian's, sheriff’s, auditor’s and tax title deeds. These transactions are for the fiscal year ending May 31 and are certified as correct by the several county recorders. The mortgages given below, reported from the same counties by the recorders, will suggest in part the reason. Statistician Conner says, for some of the mortgages, they being for part of thp consideration of the purchase: Counties. 1897. 1896. Adams $ 245.614 $ 489.957 Bartholomew 341.609 312.222 Clark 136.251 315,214 Clinton 076,080 613,900 Daviess 350.192 440.834 Warrick 427,193 260.845 Jefferson 194,065 198,900 Vigo 1,282.266 1,380,884 Henry 272,057 498,007 Lake 484,867 1,263,125 Miami 425,230 2,307,292 Steuben 256,459 248,722 Elkhart 053,462 551,021 Totals $5,757,951 $8,892,423 Mortgages for 1897. In order to obtain a knowledge of the kinds and classes of property mortgaged, the blanks sent out for this year contained questions classifying them, and so for the same counties the bureau has obtained these facts, as set forth in the following table: Lands and Town On chatCounties. farms. lots. tela. Adams $ 168.527 $ 39.253 $ 37,834 BarthTmew . 188.314 85,385 67,910 Clark 71,856 23,045 41,350 Clinton 468,980 132,900 74,200 Daviess 194,894 112,803 48,495 Warrick 331,276 57,156 38,761 Jefferson .... 112.065 80,000 2,000 Vigo 210,418 892,217 179,681 Henry 180,857 94.200 3,600 Lake .. 106,843 316,504 61,520 Miami 262,431 88,000 74.805 Steuben 154,258 84,414 17,787 Elkhart 280,155 345,517 27,790 Totals ...$2,730,874 $2,351,894 $675,683 Thus it is found that of the total amount of the mortgages in these thirteen counties 47.43 per cent were upon lands and farms, 40.84 per cent on town lots and 11.73 on chattels. This is the first analysis obtained of mortgages in the State, and the bureau says will give a more intelligent understanding of the character of these obligations. The satisfactions entered of record in the same thirteen counties for the two years are shown by the reports to the bureau in the following table: Counties. 1897. 1896. Adams $ 187.548 $ 141.314 Bartholomew 865,992 203,263 Clark 123.897 168.085 Clinton 689.000 565.200 Daviess 676,262 277.298 Warrick 137.358 93,597 Jefferson 217.033 159.500 Vigo 345,665 079,333 Henry 217.970 451.218 Lake 410,650 863,845 Miami 291,045 419,500 Steuben 66.768 40,002 Elkhart 559,746 493.792 Totals $4,707,434 $4,640,547 In 1890 52.25 per eent of the amount of the mortgages were paid and satisfied, as compared with the mortgages recorded in thirteen counties. In 1897 83.31 per cent of the amount of the mortgages were paid off as compared with those recorded for the si me fiscal year period in the same counties. 'The amount of consideration of the mortgages of 1897 was $3,134,447 less than in 189(5. The amount of mortgages paid in 1597 was $150,887 greater than in 18915. Of the thirteen counties given in the tables sonly three, viz., Vigo, Lake and Elkhart, show a greater value of mortgages on lots than on farms and lands in 1897. These three counties contain thriving and growing cities and towns is the way the bureau accounts for this. As further accounting for and classifying mortgage indebtedness the bureau of statistics called attention to the work in 'this line accomplished in a few of the counties of Indiana by the census department in 1890, which showed the following facts: Purpose of mortgage. Per eent Purchase of real estate 65.19 Real estate Improvements 0.73 Purchase and Improvements, combined 4.80 Business 3.74 Farm machines, domestic animals and other personal property 0.75 Purchase, Improvements, business and personal property (two or more combined) 2.92 Purchase. Improvements, business and personal property (combined with objects other than farm and family expenses) 1.80 Purchase, Improvements, business and personal property (combined with farm and family expenses) 4.61 Farm and family expenses 2.56 All other objects 3.90 Total 100.00 Total of first three classes of table. ... 79.72 Total of first six classes of table 87.11