BUYING FARMS WITH LAND-BANK LOANS. 
15 
portion who borrowed on second mortgages held by the former owner 
were allowed longer than two years than was the case with those who 
borrowed from men who were not the men from whom they pur- 
chased. 
SIZE OF SECOND MORTGAGES 
RELATIVE TO COST OF FARM PURCHASED 
AND WHEN 
SECOND MORTGAGES COME DUE 
PER CENT 
SECOND 
MORTGAGE 
IS OF COST 
OF LAND 
DOTS REPRESENT SECOND MORTGAGES MATURING EACH YEAR 
NUMBER 
OF 
RECORDS 
PER CENT 
OF ALL 
RECORDS 
10 
, 
2 
YEAR 
3 
BY W 
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11-15 
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16-20 
21-30 
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46-50 
41-45 
36-40 
31-35 
26-30 
21-25 
16-20 
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39 
59 
72 
33 
59 
52 
46 
51 
57 
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PER CENT 
OF ALL 
RECORDS 
11.2 
9.3 
15.5 
6.4 
29.0 
4.2 
4.6 
4.3 
0.8 
9.7 
2.1 
2.1 
0.4 
0.4 
100 
NUMBER 
OF 
RECORDS 
59 
49 
82 
34 
153 
22 
24 
23 
4 
51 
11 
11 
2 
2 
527 
Fig. 4.— Analysis of terms of 527 second mortgages given in connection with, purchase of 
farms for which the first mortgages were held by Federal land banks. 
Table VII. — Time by which second mortgages are fully payable. 
[First mortgage held by Federal land banks, and giving of mortgages coincident to the purchase of the 
land.j 
Number 
Of 
records. 
Per cent fully payable — 
Holder of second mortgage. 
By end 
of 
second 
year. 
After 
second 
but by 
end of 
firth 
year. 
After 
fifth 
but by 
end of 
tenth 
year. 
After 
tenth 
year. 
Special 
(usually 
no fixed 
matu- 
rity). 
Relative who is former owner 
Other former owners 
30 
395 
145 
5.8 
17.0 
33.1 
41.7 
48.4 
53.8 
36.1 
27.6 
8.3 
5.5 
6.6 
2.1 
11.1 
.3 
2.8 
All cases 
57G 
20.3 
49.3 
23.3 
5.4 
1.7 
