The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1877-01-27

February ], 1872. the society purchased of
Hayes - 76-l0O acres, as stated herein for which
they agreed to pay bin $500. They paid him
down $500 and gave him sale mortgage on the
land for the balance to secure the payment of
one note Of 5000, due August 1, 1872, with inter
est, and s1,4OO, due August 1, 1873, with 10 per
cent interest The first note for 5000 was taken
up September Is, 1872, aud interest paid amount
ing to $40. In February, 1873, they paid interest
on the 81 400 note to February |, 1873. The sale
mortgage given by the society to Hayes en-
powered him TO advertise ard sell the property
& whenever the society might make default In It's
payments. The society did make default In the
payment or the sI,40O note, ana george II. Nor.
ris, the assignee OF Hayes, sold the land in said
mortgage described, according to its terms, to
Lester H. Eames, October /, 1873, for 1852 3d.
The society bought from Francis b. Bust
twenty acres OF ground, as previously mentioned.
The amount to be paid was $4,000. They paid
aown $500, and gave him their notes, secured by
mortgage on said land, as follows: One note Of
$1,000 due June !, 1877; one of 81 600, due Nov.
/, 1872; one Of 81 900, due June /, 1873, and one
Of $1,000 due June /, 1874. all bearing interest at
20 per cent. August 9, 1877, they paid $40 inter
est; April 10, 1878, they paid 800 interest," May
., 1874, they paid 800 in interest, being all the
interest 10 April 10, 1864; September aS, 1872
shey paid 20S4.OO, being the principal and in
'terest due on the first two notes. leaving unpaid
5000, or two notes, and interest since April 10,
1873.
inclc 10 u prior mortgage upon TINS, the bust
tract, upou record, which is not cancelled. 1t is
rom Francis Blust 10 Daniel T. Murphy, dated
July 5, 1871, for $500 and interest Your com
rnittee are informed that said mortgage is in the
hands Of William Reddick.
On the I'd Of September, 1872, the society exc
cutcd TO Charles III Force, ct al. three of It's
members, trust deed on the Fair Grounds to
secure the payment Of 1900, due to certain
members who had advanced that sum. This
trust deed empowered the trustees therein nam
ed to sell the property In case Of failure to pay
said sl2,000. Default having been made, said
Fair Grounds were sold TO Charles H. Brush for
s3,75o Dec 81, 1874, who holds the legal title
tbereof for the several persons named in the
mortgage or trust deed.
The legal title Of the Hayes tract Is in l.. IT.
Games IN the same way.
AMOUNT OF INDEBTEDNESS on LAND.
On Hayes tract due at date of sale to
Eames ttrustceI, Oct 1, 1878. 81 1888
Interest TO Feb. !, 1877 years months 5lilO
$2O5643
On Blust tract, two notes, 81 900 each. 100000
p Interest years, 10 months. ............ 1888
$2.,3333
Add deb, on Hayes tract. 2O5643
Total Indebtedness on zeal estate. ~, 7s9. rs
Amount due on trust deed, Sept. 9, 1872 SIC 100
Amount interest due on trust deed, 4
years months ..................... $4,000
Sl7,40000
Total Indebtedness on Hayes tract. 80 2056.4
Total Indebtedness on Blust tract. 273333
Total Indebtedness on trust deed for all IL, 10000
'potal Indebtedness So, 1876
amount expended for permanent improve.
ments by the society since January, 1ST2:
kor buildings, DC, paid Jekyll. .sl2, 50.00
FOR artesian well. Observation-Disclosures. 5000
For stalls, buildings, &c............... 5,32l ~
Total. NEUTRALITY-SUSPICIOUS.. SIS, 15s.s6
All Of which is respectfully submitted.
ASA NJ. HOFFMAN.
j. y. DUSAwAY.
JAMES II. PICKENs.