The Middlebury register and Addison County journal. [volume] (Middlebury, Vt.) 1883-1885, 1883-05-11
Aurora Co.., Dakota.
REAL ESTATE and MORTGAGE
LOANS.

ItnlE will take money from any person, firm or
I corporation, in large or small sums, and
loan II to Trustworthy parties, taking notes
~ secure ed 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 one 10 1--WE 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 collec-
tons. \ 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
III the applicant and his ability 10 pay the interest
and debt when due. An abstract OF title will be
furnished with each loan, showing good title to
the land offered as security to be in the applicants
name and free from incumbrance 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 mopfy will he
paid over to the borrower until the mortgage Is
recorded, the abstract procured, examined by 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 Ice iorw arded to the
party lOHning the money. If preferred the appli-
cation will be- sent before the money is forwarded
10 MS.
The advantages of this method are that the
agent has II small pecuniary interest in each year
lv payment OF interest, aud will he careful to put
the money out 10 good and safe parties and will
be- sure To make prompt collection and remittance
of interest to the mortgage in order that the
agency may be permanent aud remunerative.
Agents who have no pecuniary interest in the
collection of interest are apt tn think their re
spOnsibility ceases when the loan is made and the
papers returned to the MORTGAGE. This should
mol be the case, Tor II loan wants looking after, to
sac that the taxes are paid on the land and that
the premises are not permitted 10 run to waste
aud decrease in value, The small pecuniary in
terest OF the agent in the annual collections will
remuncrate 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 10 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 O6O acres) in
Aurora county and near il, each quarter to be
worth, exclusive of buildings, AT least double the
amount loaned thereon.
The confidence telt in the future of this county
by capitalists who have min its merlts IN
person or by agents, is shown by the lact that
since the organization OF the pounty ia August,
ISL, the loans made aud secured by mortgage up.
on real estate IN the county amount to about
sl0n,Oun, Nearly all oi these loans have been
made by half u dozen heavy capitalists, among
which ARE such monied corporations as the Scot
fish American Mortgage Company, limited, of
Edinburgh, Edinburgh American Land Mortgage
Company, limited, the New England Loan and
Trust Company, aud various private bankers.
There is no good reason why small capitalists
should not enjoy the high rates of interest paid
here. Satisfactory references will be furnished on
application.