The Middlebury register and Addison County journal. [volume] (Middlebury, Vt.) 1883-1885, 1883-06-08
Aurora Co.., Dakota
REAL ESTATE AND MORTGAGE
LOANS.

llIC will take money from any person, hrm !
{ corporation, in large or small sums, an
loan il to trustworthy parties, taking not
secur ed by mortgages on farm lands wort
AT least double the amount loaned exclusive
buildings, in the name OF the party furnishing ~
funds, for one to live years ut ten per cent. intel
est. payable annually at the office of the lendet
We will collect the interest and remit prompt
nine tenths Of the same. This will net the lendi
nine per cent. interest and insure prompt COLD
tons. A printed application for the money wi
be filled out and signed by the applicant, showiI|
the quality, legal description, location and conJ
ton of the lands and their actual valuation. IN
application will also show the financial conditij
OF the applicant and his ability To pay the intereI
and debt when due. An abstract OF title will |
furnished with each loan, showing good title
the land offered rs security TO be- in the applicant
name and free from incumbrance. by unpaid taNdI
liens, judgments or other mortgages. All the \
quisite papers Will be prepared and recorded witt
out expense to the lender and no money will !
paid over to the borrower until the MORTGAGE
recorded. the abstract procured, Examined byI
careful and competent attorney and found sat
factory, When the transactions are complete
aud the money paid over to the borrower the MOI
mortgage and abstract will be forw arded To |
party loaning the money. If preferred the appI
cation will be sent before the money is forward
to us.
The advantages of this method are that t |
agent has a small pecuniary interest in each yeJ
~ payment OF interest, and will he careful To nj
the money out 10 good and safe parties and vi
be sure to make prompt collection and TemlttalI
OF interest 10 the mortgage III ofutr thal |
agency may be permanent and remuneratiI
Agents who have no pecuniary interest in |
collection of interest are apt To think their !
sponsibility ceases when the loan l. made and |
papers returned 10 thenmortgagee. This shoul
moi be the case, Tor a loan wants looking after, |
see that the taxes are paid on the land and ~
the premises are not permitted to run to wal
and decrease in value. The small pecuniaTy :
terest OF the agent in the annual collections VI
remunerate him for looking after the land until
is paid and the money returned TO the lender. II
experience of lenders and agents demonstraJ
the wisdom and justice OF this plan. We wo(
be pleased to take money in sums of $3.50 or Ov
and will invest the same in loans of $3.50 to :
each, upon single quarter section (l60 acres) |
Aurora county and near it, each quarter TO
worth, exclusive of buildings, at least double Il
amount loaned thereon.
The confidence telt in the future of this eouIS
by capitalists who have examined its merits /
person or by agents, is shown by the fact ~
since the organization of the county in AuguI
1881, the loans made and secured by mortgage !
on real estate in the county amount TO abe.
500, 900, Nearly all OF these loans have bdI
made by half "A dozen heavy capitalists, amo|
which are such monied corporations as the Sc.
fish American Mortgage Company, limited, |
Edinburgh, Edinburgh American Land Mortgs&
Company. limited, the New England Loan u
Trust Company, aud various private bankers.
There is no good reason why small capitaliI
should not enjoy the high rates of interest ID
here. Satisfactory references will be furnished
application.