The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1874-10-17
Investment Department.
Merchants, Farmers & Mechanics Saw
ings Bank

fLK>oNs DESIRING To i>N tsr THEIk MoNEN,
should examine the Investment errJincA Is
nov being issued b the MercHatns. Farmers
and Mechanics Savings Bank
THESE CERTIFICATES BEAs INTEREST Al th,,
rate q t~o cents per DAY On each 500. or
$40 per per auHun and interest IL
payable quarterly, VIZ on the tirst days OF
February MAY August ana November.
THEY ARE sECuREp oy mortgages On i'm
proved and productive real estate. worth three
times the amount loaned These mortgages
are placed in trust and the trustee who acts
.or the interests OF the holders OF certificates,
well fof the bank, counIersign each GER
tihcate issued as an evidence that the same
is thus secured.
IHE HOLDERS of THESE CERTIFICATES HAVE
THE BENEFIT OF THE VERY BEST o. REAL ~
TATE SECURITY, AND BESIDES THAT, THE GUAR
ANTfE ~ rHL BANK, they are relieved from
all care and responsibility which l. incident
to direct loans upon real estate. such a. col
Letting interest, attending t, the renewal II
insurance, and payment u taxes or protey-
tion from tax sales. and ~ the collection Of
the principal when due, snd It's r--investment
Any holder oi certificates L. Tia. amount ~
5000 Or more has night. however. a. -
change them Tor mortgages bearing 10 per
cent, hut in such cases certificates arr IA zen
up and the mortgages are assi .ned without
recourse. the bank Is released from ali r..
sponsibility. The design 1t these certificates
is not to sell the mortgages. but rather to al
ford an investment ~ the certificates. reliev-
ing the holders from all the incouv enienc. and
risks Of direct loans
Superiority Over Direct Loans
One who has loaned his money directly
upon real estate must take all RISKS of errors
in abstracts, defects in title failure OF insur.
ance, sales Of taxes, and other liens. and the
of collecting interest all these
matters can be better and more safely pro.
vided for by corporation like this which has
many hundred thousands of dollars loaned ON
real estate, and has perfect system ( at.
tending to these matters, and Of guarding
against all risks Of this description. Ii money
IS loaned for a certain time on real estate, in
the ordinary way, the lender must expect to
wall llitc ttfOFe ne yet
his money, and in case it falls due and is paid
to him when he does not want t. use it, he
has the trouble OF re-investing
THESE CERTIFICATES Nay BIZ HELD A. LoNg
A. DESIRED BY TFE PURCHASER, his interest
Will be promptly pald on each quarter day,
he trustee who countersIgns each certificate
= charged with the duty "f seeing that the Sc
urity Is at all times kept good, and that pro-
'ision IS made for the prompt payment of in.
crest.
The sNS1EM WITH VIEW 70 IFS kATENsIoS |
Is MAY BE DEMANDED, IL established by plac. |
ng in trust mortgage notes Of the face valne of |
800, 900, which are secured on improved and |
productive real estate worth $500. 900. Upon |
hese mortgages $50 900 Of certificates are |
bv the trustee and are then |
xecuted. guaranteed and issued by the bank. |
lF ANY MORTGAGE SECURING rHR cERTIFI-
ATES SHOULD NOT BE PAID, there are $40. 600 /
more of mortgages than of certificates issued. |
nd the holder Of certificates would not be the |
Users. Moreover, under the conditions of the |
eed and declaration Of trust (which is dulv
ecorded In the Recorders Office of Cook I
ouuty, Ill. it ~ the duty Of the trustee to
equIre from the bank new securities to re-
lace any that may prove defective. ANY
Older Of certificates can see the securities on
pplcatIOn.
AvAILABILTTY These certificates are not
My safer and more convenient than a single
Mortgage loan, but they are more available.
my holder wishing to realize the principal
hrs certificates, may, on thing the same for
election, receive payment, in order of filing,
ut of the money collected from time to time
rom mortgages paid. As but a small pro-
ortiOn Of the certificates are likely to be on
lie for collection at any one time, and a. out
30 large an amount Of mortgages money il
coming in, the holders Of certiR-
stes will hnd them much more available
han direct time loan The certificates
'hieh are not registered in the name Of any
erson, but issued b holders, are far more
valuable in the way Of barter or trade than
q ordinary mortgage note, especially rs they
re rpceivable at this bank for all debts due
D 10 q any time. The unregistered invest
rent ceFtiRcates are as easily transferable a.
government bond, viz, by merely passing
ON hand 30 hand. They are handsomely
ngraved, and are Of the denominations Of
100, $500 and $1,000. Il
REoisTRRED cERrTrTcsrvs Registered in