Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1897-04-15
The East and Kansas.

OuuVL WV h>pN''6f
From Bleeding Kansas" the Rutland
Vermont, Herald has column Of re-
marks regarding the investment In
terests Of this state based upon the
new mortgage assignment law passed
by the recent legislature. The arti-
Gle is so unjust and has SO much OF
venom in it that it seems to call Tor
a reply. 1t assumes although the
editor says he has copy OF the law
before him. that the new law provides
that II mortgage assignments are not
filed before six months from the date
of the taking Of effect Of the law that
the mortgage is forfeited, and says
this is a scheme OF the Kansans to
"rob the eastern investor" at is a
deliberate attempt to rob the eastern
people who have trusted their money
to the Kansas borrower and by
methods that make sneak thievery
seem respectable by comparison" is
the expression Of this representative
OF New England culture. 1t adds;
"No more despicable piece OF rascal
ity ever distinguished any govern
ment in this country"
In the first place the Herald has not
read the law. 1t provides that the
assignment OF mortgages shall be put
on record and that II 1t is not done
with every assignment the payment
OF the amount called for by the mort
gage note to the party whose assign
ment appears last Of record shall be
sufficient to cancel the debt. That is
in short the law. It's not an attempt
to "rob' anybody and does not do So
The mortgage has recourse against
the one from whom he received his
mortgage as II for money loaned to
him personally.
The mortgage assignment law is q
good thing and should have been
passed years ago. Its purpose is to
keep the Kansas borrower from being
robbed. In hundreds Of cases there
has been paid to the loan agents the
money, saved from severe toll on the
claim, for payment to the holder OF
the mortgage. The agent has put
the cash in his pocket and a year or
more after the farmer has had to pay
the money over again or lose bis farm.
In this county 1t has been done. In
the crash that came after the break
ing up Of the T. G. Henry company
there were found to be many such
cases and there are farmers in this
vicinity whose lives have been cloud
ed by that rascality. They have lost
the savings Of years and will never
get over it. Had they been able to go
to the records and see who held their
mortgage they could have written
and found out that 1t was not paid.
But the loan companies refuse to tell
who is the assignee and it is long
and expensive course in the courts to
prove that the agent was the agent Of
the mortgage, not Of the mortgagor'
1t was not the intention Of the legis-
lature to rob anybody in this act and
1t is altogether the best law that 1t
put on the statute book. Under its
provisions it would be impossible for
institutions like the Globe Investment
company that failed recently IAN in
stituton managed and owned by New
England men remembeD to take
100000, as was done by the treasurer
Of that institution according to the re-
port Of the receiver, and not turn it
over to the loaner. The poor borrow
ers will have to pay that sum second
time will not think the "robbery" is
on the part Of the West. This was
only sample Of the many such
actions that have made the settler de-
mand protection for himself,
The Herald goes on to tell that
Kansas is settled by "border rutlians'
and that "it never was and never will
| be good state" The editor Of that
, paper fails to remember that the state
has been settled for more than u third
; Of a century and that the larger por-
. ton Of its people came in those early
days from the sacred soil Of New
England. At the present time nearly
half Of Its population is native borr
and Of the remainder the states o.
Q Illinois, Ohio, New York and Pennsyl
vania furnish the greater portion
! The population from the south is {