[221] See [Part IV], [p. 258].
[222] One grant of $100 which was subsequently refunded, and which was entered on certain statements as a loan, is not included in the figures given in this section.
The loans ranged from a minimum of $37 to a maximum of $595. They were payable in monthly instalments of $10 or more with interest at 6 per cent.
On January 20, 1909, a short time after this investigation was completed, a report issued by the special collector of loan instalments indicated the status with reference to payment of these obligations. There were at that time 97 recipients of loans, 25 per cent of the total number, who had ceased making payments or had never made any, and were therefore to be considered delinquent. Between 200 and 300 were paying from time to time but had not settled their accounts in full. The total amount that had been collected was $54,310.60, and the balance unpaid, exclusive of interest, was $61,247.73. In a report to the auditor it was stated that “some of the grantees have been very prompt in meeting their obligations but a large number have not seen fit to meet their monthly installments.” As a matter of fact some of the loans were, for various reasons, converted into grants and the account of the applicant closed.
Between January, 1909 and January 1, 1911, a considerable sum was collected. The situation on the latter date, as reported by the auditor, is shown by the following statement:
TABLE 93.—STATUS ON JANUARY 1, 1911, OF LOANS TO FAMILIES RECEIVING AID UNDER THE GRANT AND LOAN PLAN
| Total amount of housing loans | $115,558.33 | |
| Collections on housing loans | ||
| Principal | $82,200.30 | |
| Interest | 8,011.25 | |
| $90,211.55 | ||
| Balance of principal unpaid | $33,358.03 | |
The statement shows that $82,200.30, 71.1 per cent of the principal loaned, had been collected, in addition to $8,011.25 interest. More than half of the principal repaid represents the repayment in full of 188 or 49.0 per cent of the loans. The remaining loans were canceled or changed to grants, 22 wholly, 174 in part,—some for the reason that the circumstances of applicants had changed, and they were unable to pay as agreed, and some because collecting was likely to entail undue expense. As it was, the expense of collecting the money recovered came to $11,460.10.
The Rehabilitation Committee gave the following additional aid to 356 of the 896 grant and loan cases studied.
TABLE 94.—ADDITIONAL AID FROM THE RELIEF FUNDS GIVEN TO FAMILIES RECEIVING AID UNDER THE GRANT AND LOAN PLAN[223]