The Middlebury register and Addison County journal. [volume] (Middlebury, Vt.) 1883-1885, 1883-05-04
Aurora Co., Dakota.
REAL ESTATE AND MORTGAGE
LOANS.

RnIc will take money from any person, firm or
"C corporation, in large or small sums, and
loan ii to Trustworthy parties, taking notes
~ secured by mortgages ON farm lands worth
at least double the amount loaned exclusive of
buildings, in the name OF the party furnishing the
funds Tor to five years at ten per cent. inter.
est, payable annually at the office of the lender.
We will collect the interest and remit promptly
nine tenths of the same. This will net the lender
nine per cent. interest and insure prompt colcc-
tions. printed application for the money will
bc filled out and signed by the applicant, showing
the quality, legal description, location and condi-
tion of the lands and their actual valuation. The
application will also show the financial condition
of the applicant and his ability to pay the interest
and debt when due, An abstract OF title will be
furnished with each loan, showing good title to
the land offered rs security 10 be in the applicants
name and free from ncumbrance by unpaid taxes,
liens, Judgments or other mort cages All the re
quisic papers will be prepared and recorded with
out expense 10 the lender and no money Will bc
paid over to the borrower until the mort gage is
recorded, the abstract procured, examined 10y II
careful and competent attorney and found salts
factory, When the transactions are completed
and the money paid over to the borrower the note,
mortgage and abstract will be forwarded to the
party leaning the money. If preferred the appli-
cation will be sent before the money is forwarded
to us.
The advantages of this method are that the
agent has "A small pccuniaTy interest in each year
~ payment of interest, and will be careful To put
the money ont to good and safe parties and will
be sure to make prompt collection and remittance
of interest to the mortgagce in order THAI the
agency may Dc permanent ANA rrnuncraliNp.
Agents who have no pecuniary interest in the
collection of interest are apt To think their re
sponsibity ceases when the loan is made and the
papers returned to the. mortgage. This should
not be- the case, for loan wants looking after, to
see that the taxes are paid on the land aud that
the premises are not permitted to run to waste
and decrease in value. The small pecuniary in
terest of the agent in the annual collections will
remunerate him for looking after the land until il
is paid and the money returned to the lender. The
experience of lenders and agents demonstrates
the wisdom and justice of this plan. We would
be pleased to taxi money in sums ot 800 or over
and will invest the same in loans of 500 to 500
each, upon single quarter section (ldO acrrs) in
Aurora county and near it, each quarter To be
worth, exclusive of buildings, ai least double the
amount loaned thereon.
The confidence felt in the future of this county
by capitalists who have examined its mcrits IN
person or by agents, is shown by the fact that
since the organization of the county in August
1851, the loans made and secured 10y mort gage M
on real estate in the county amount to about
SlOO,OOO, Nearly all Of these loans have been
made by half dozen heavy capitalists, among
which are such moned corporations as the Scot
fish American Mortgage Company, limited, %
Edinburgh. Edinburgh American Land Mort gaze
Company, limited, the New England Loan ano
Trust Company, and various private bankers.
There is no good reason why small capitalist,
should not enjoy the high rates of interest pal,
here. Satisfactory references will be furnished ul
application,