The Middlebury register and Addison County journal. [volume] (Middlebury, Vt.) 1883-1885, 1883-05-18
Aurora Co., Dakota.
REAL ESTATE AND MORTGAGE
LOANS.

IkIE will take money from any person, firm or
loan II to trustworthy parties, taking notes
secur 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-
tions. 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 rs security TO be in the applicants
name aud free from ncumbrance by unpaid taxes,
liens, judgments or other mortgages. All the re
quite papers will be prepared and recorded with
out expense to the lender and no money will be
paid over to the borrower until the mortgages 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 forwarded to the
party loaning the money. If preferred the appli
cation will be sent before the money is forwarded
10 us.
The advantages of this method are that the
agent has small pecuniary interest in each year
payment of interest, and will be careful to put
the money out to good and safe parties and will
be sure To make prompt collection and remittan
of interest to the mortgage in order that the
agency may be permanent and remuneratiye.
Az ants who have no pecuniary interest in the
collection of interest are apt to think their
sponsibty ceases when the loan is made and the
papers returned to theimOrtgagee. This should
not be the case, for loan wants looking after TO
see that the taxes are paid ON the land and that
the premises are not permitted to run to waste
aud decrease in value. The small pecuniary in
terest OF the agent in the annual collections will
remunerate him for looking after the land until it
il 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 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 il, each quarter TO be
worth, exclusive of buildings. at least double the
amount loaned thereon.
The confidence iclt 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
| 100000. Nearly all Of these loans have been
made by half 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.