The Middlebury register and Addison County journal. [volume] (Middlebury, Vt.) 1883-1885, 1883-06-29
Aurora Co., Dakota.
REAL ESTATE AND MORTGAGE
LOANS.

vnlc will take money from any person, firm or
"I corporation, In large or small sums, and
loan il to trustworthy parties, taking notes
secu' 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, 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 collec,
tons. 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 ill 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 security to be in the applicants
name and free from incunibrance by unpaid taxes,
liens, judgments or other mortgages. All the re-
quii 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 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 loaning the money. If preferred the apIli-
cation will be sent before the money is forwarded
u us.
The advantages of this method are that the
agent has a small pecuniary interest In each year
! payne of interest, aud will be careful TO put
the II oney out to 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 De permanent and reinunerative.
Agents who have no pecuniary interest in the
collection of interest are apt to think their re-
spOnsbity ceases when the loan is made aud the
papers returned to the mortgage. This should
not be the case, for loan wants looking after, to
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
remuncrate 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 in loans of $3.50 to $500
each, upon single quarter section (l6O acres) in
Aurora county and near ii, 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
Sl0O,00O, 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 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 paid
here. Satisfactory references will be furnished on
application.