The sun., 1897-10-24
LI0UIDATION CRY ~ KANSAS.
Desire OF Farmers Get Ont OF Debt Has
Reached the hanin stage.
From the 81. Louis GIohc. Democrat.

From the 81. Louis Globe. Democrat.
The story of the farmer who went into a bank
at FL Dorado this week and drew pistol on the
cashier to make him accept 81. 600 and deliver
up his mortgage may seem improbable. But
this action was only an exaggerated instance of
what is going all over Kansas. "Liquida.
ton" is the cry. These farmers are anxious
to get out of debt as they we're to get into debt
few years ago. The new movement amounts
to II mania. Some of the mortgage companies
trying to check it. They are demanding
afdavits that the money rendered in payment
of mortgage was realized from crops raised
on the land incumbered before they will accept
it and release the bond. The State makes it
obligatory on the loanng company TO accept
partial payments on mortgage whenever the
debtor wishes. 1t now appears that some of
tho companies inserted i'll the body OF their
mortgage forms a provision that the money
so paid must come from crops raj ed on the
mortEaEed lanG. Presumably this was put in
by the loan r9mpnnies TO protect themselves
against each other. They thought they toreshw
the time when Kansas mortgages might be in
demand and when the opportunity TO refund Nt
lower rates of interest might prompt debtors 10
transfer from one !cndc to another So they
devised this peculiar stipulation 10 prevent
throat cutting in the loanlng business. Now
the clause in small tyre is being invoked to dis
courage the lifting OF mortgages. The companies
are insisting that the farmers shall prove that
the money they offer WIS obtained from the
statements TO this effect. Such u provision
farmers are 20 anxious to get clear that, with
out dispntmg the Legality OF the provision. they
arc laying down the cash and the required
affidavit with 1t TO take up their notes. Four OF
these afildavlts To lilt as many mortgages were
made in the Kansas town OF llillsboro few
days ago. The lawyer who WAS called upon to
draw one OF the instruments felt tho humor OF
tho situation. His client presented TO the
agent OF the loan company paper to this effect:
John Doc OF Blank county, state OF Kansas.
being duly sworn, makes oath that he IL the
owner of the northeast quarter of section !.
township H. range Ii; that on or about tho LIST
of August, 1896 he d!I plough forty acres OF
said quarter, and did harrow and pulvcrizc the
same; that in september of said year he did SOW
thrccq quarters OF bushc OF seed wheat to the
acre on said land; thnt in september and
October of said year said seed wheat did germ
mate and grow; that through the following
months said wheat continued to grow and 10
prosper until June, 1897, when 1t reached
maturity; that in June said wheat har-
vested, and when thra-hcd yielded 81 bushels
to tho acre; that aliiant hauled said crop OF
wheat to town and sold II to ono Richard Roe,
miller, who paid for the same 10 cents n bushcl.
Atiiant further deposes that the money herewith
rendered in payment OF the mortgage on the
aforesaid quarter section OF land is part of tho
money received from the said Richard Roc for
the hercnbeiOre mentioned crop OF wheat. And
aifiunt prays that said money be accepted and
the mortgage on said land released.
The slory of the ii Dorado mortgage released
for cash at tho muZZlc OF n bulldog pistol dOes
not seem so incredible when hona.tdc affidavits
of the character described are icd as exhibits
OF the new Kansas craze TO get out o! debt.