The Middlebury register and Addison County journal. [volume] (Middlebury, Vt.) 1883-1885, 1883-05-25
Aurora Co., Dakota.
REAL ESTATE AND MORTGAGE
LOANS.
Vngc will take money from any person, firm ol
NIL corporation, in large or small sums, anC
H loan il to trustworthy parties. taking note'

WE opofsi"" @ s Upy G pG prr y ss n'G" m mr." a@d U
" loan il to Trustworthy parties, taking notes
~ sccurr ed 10y mortgages On farm lands worth
al least double the amount loaned exclusive of
buildings in the name oi the party furnishing the
funds, ior one to live years a ten per cent inter
est, payable annually AT the office of the lender.
We will collect the interest and remit promptly
nine tcnths 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 ot 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 security to be in the applicants
name and free from incumbrancc 10y unpaid taxes,
liens, judgments or other mortgages. All the re
qusite papers will be prepared and recorded with
out expense to the lender and no money will be
paid over to the borrower until the mortgage l.
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,
mort gage 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 us.
The advantages of this method are that the
agent has small pecunary 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 tn make prompt collection and remittance
| of interest to the mortgagee in order that the
agency may be permanent and remuncrnttve.
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.mortgagce. 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 not permitted to run TO waste
and decrease in value. The small pccunary 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 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 (ldD acrrs) in
| Aurora county and near il, zach quarter to be
worth. exclusive of buildings AT least double the
| amount loaned thereon.
| The confidence cll in the future of this county
| by capitalists who have examined its merits i'm
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 counts amount to about
SIOOOO0, Nearly all of these loans have been
made by half dozen heavy capitalists, among
which are such moned corporations rs the Scot
tish American Mortgage Company, limited, of
Edinburgh, Edinburgh American Land Mortga
Company, limited, the New England Loan ana
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
npplicatiOn.