The Middlebury register and Addison County journal. [volume] (Middlebury, Vt.) 1883-1885, 1883-07-13
Aurora Co., Dakota.
REAL ESTATE AND MORTGAGE
LOANS.

vHIG will take money from any person, firm or
~ { corporation, in large or small sums, and
loan ii tn 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, for one 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 collcc
lions. 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 aud his ability to pay the interest
and debt when due, An abstract of title will be
furnished with each loan, show ing good title to
the land offered 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 moucy will be
paid over to the borrower until the mortgage Is
recorded, the abstract procured, examined by a
careful and competenf 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 loaning the money. If preferred the appli
cation will be sent before the money is forwarded
to u.s.
The advantages of this method are that the
agent has small pecuniary interest in each year
payment of interest, aud will be careful to put
the money out to good and safe parties and will
he sure to make prompt collection and remittance
of interest to the MORTGAGE in order that the
agency may DE permanent ana
Agents who have no pecuniary interest in the
collection of interest are apt To think their re
sponsibility when the loan Is made and the
papers returned to thefmortgagee. This should
not be the case, for loan wants looking after, to
see that the taxes paid on the land and 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 II
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 i'm loans of $3.50 to 500
each, upon single quarter section (ldO acres) In
Aurora county and near it, each quarter to be
WORTH exclusive of buildings, at least double the
amount loaned thereon.
The confidence tclt 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
| 1851, 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 dozen heavy capitalists, among
which are such monied corporations as the Scot
| fish American Mortgage Company limited, OF
Edinburgh, Edinburgh American Land Morigag,
| Company, limited, the New England Loan anc
| Trust Company, and various private bankers.
| There Is no good reason why small capitalists
should not enjoy the high rates of interest paic
| here. Satisfactory references will be furnished OF
| application.