The Middlebury register and Addison County journal. [volume] (Middlebury, Vt.) 1883-1885, 1883-07-20

IL VIII TIKT nOHVV TTOTT lily TJTTSUH, 1T III U
{ corporation, in large or small sums, and
loan 1t to trustworthy parties, taking notes
secur ed by mortgages on farm lands worth
ut least double the amount loaned exclusive OF
buildings, in the name of the party furnishing tlic
funds, for one to five years ut 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 colIcc
tions: A printed application for the money will
be filled out and signed by the applicant, showing
the quality, legal description, location and condi-
ton 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 to be in the applicants
name and free from incumbrancc by unpaid taxes,
liens, judgments or other mortgages. All the re
quisite papers will be prepared and recorded with
out expense to the lender and no money will be
paid over to the borrower until the mortgagcIs
recorded, the abstract procured. Examined by Il
careful and competent attorney and found salts
factory, When the transac; ions are completed
and the money paid over to the borrower the note,
mortgage and abstract will be forwarded to the
party loaning 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 n small pccuniary interest in each year
|, payment of interest, and will be careful to put
the money out to good and safe parties and will
be sure to make prompt collection and remittance
OF interest to the mortgagee IN order that the
agency may be permanent and remunerative.
Agents who nave no pecuniary interest in the
collection of interest are apt to think their re
sponsibility ceases when the loan is made and the
papers returned to the.mortgagee. This should
not be the case, for II loan wants looking after, to
see that the taxes are paid on the land and that
the premises are not permitted to run to waste
and decrease in value. The small pecuniary in
tcrest 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 take money in sums of $3.50 or over,
and will invest the same in loans of $3.50 to $500
each, upon single quarter section (1GO acres) in
Aurora county and near it, each quarter to be
worth, exclusive of buildings, at least double the
amount loaned thereon.
The confidence felt in the future of this county
by capitalists who have examined its merits in
person or by agents, is shown by the fact that
since the organization of the county in August,
1881, the loans made and secured by mortgage up
on real estate in the county amount to about
100000, Nearly all OF these loans have been
made by half II dozen heavy capitalists, among
which are such monicd corporations as the Scot
fish American Mortgage Company, limited, OF
Edinburgh, Edinburgh American Land Mortgage
Company, limited, the New England Loan and
Trust Company, and various private bankers.
There is no good reason why small capitalists
should not enjoy the high rates of interest pait
here. Satisfactory references will be furnished Oh
application.