The Middlebury register and Addison County journal. [volume] (Middlebury, Vt.) 1883-1885, 1883-04-27
FIRST CLASS REPAIR SHOP
Aurora Co., Dakota.
REAL ESTATE AND MORTGAGE
LOANS.

vllc will take money from any person, firm or
WI Z corporation. in large or small sums and
" loan IL to Trustworthy parties, taking notes
~ secur ed by mort cages ON farm lands worth
al least double the amount loaned exclusive of
buildings, in the name OF the party furnishing the
funds, Tor one to live years at ten per cent. inter
est, payable annually AT the Office of the lender.
We will collect the interest and remit promptly
nine tenhs of the same. This will net the lender
nine per cent. interest and insure prompt collec-
tions. A printed application for the money Will
be filled out and signed by the applicant, showing
the quality, legal description, location and condi
tion 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 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 money will be
paid over to the borrower until the mort gage 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 be iorw arded To the
party oaning the money. If preferred the app
cation will be sent before the money is forwarded
to us.
The advantages of this method are that the
agent has a small pecunary interest in each year
ly payment OF interest and will be careful to put
the money out To good and safe parties and i'll
| be sure TO make prompt collection and remittance
| of interest to the mortgage in order that the
agency may be permanent aud remuneratiVc.
Agents who have 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, mortgage. This should
NOT be the case, Tor u loan wants looking aitcr 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 pccuniary in
terest OF the agent in the annual collections will
remunerate him Tor looking after the land until it
| is paid aud the money returned to the lender The
| experience of lenders and agents demonstrates
| the wisdom and justice of this plan. We would
be- Pile, ed TO take money in sums of $3.50 over
and will invest The same in loans of $50 to $500
each upon single quarter section (lG0 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
i 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 10 about
| SlOOOOO, Nearly all OF these loans have been
made by half u dozen heavy capitalists, among
| which are such monied corporations rs the Scot
| tish 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.