The times., 1899-03-26
A LOST HOUSE.
The Danger of Loaning Money OF
Real Estate.
(From the Detroit Free Press.)

(From the Detroit Free Press)
Green has an Office in the Union Trust
building and occasionally lets out money
when the security is gilt-edged, that is to
say, when it is worth at least ten times
the amount of the loan and there appears
to be no doubt that the loanee will pay the
principal.
1t used to be that way. But now it's
different. This morning Green remarked
within the hearing of the writer that he
had loaned his last dollar on real estate
Hereafter" he growled, II shall only
let out cash on diamonds and stoves and
things, and even then only on condition
| that / keep the stuff in my possession un-
til the debt is paid
After considerable questioning Green
| finally decided to give publicity to the
| reasons for his change in business meth
DDS for the benefit of other amateur loan
ers of the long green
Its this way" he said, as he bit the tip
from a black cigar yiciously: "A little
while ago a resident of the Polish settle
ment that we have out in the western part
OF town came to me to negotiate a loan on
little real estate he owned. | examined
the property and found the title all right
There was a small lot with very good
house on it and l saw no reason why n
mortgage wouldn't be a good thing So |
let the chap have the money. The first
bundle of interest came due a week ago
last Wednesday. 1t just came due; it didn t
come to me. However. l didn't 90 any
worrying, for l considered the security all
right. | merely wrote a note to my man
Three days passed but no answer came |
wondered what was the matter, so last
Friday | boarded my wheel TO ride out
there and look over the property. 1t was
nice day. you'll remember, and l p=dalled
along as blithe and gay as young lover.
| turned the corner TO go down the street
where the property was located and before
had proceeded twenty yards l nearly fell
from the machine. My eyes burst almost
from my head. | dismounted and leaned
against tree. There lay the site of the
property, but the house was gone. | saw
nothing but lot with a broken down fence
around it.
"A hole in the middle OF the lot showed
that once upon time a house had stood
there. But the house had vanished II had
folded its roof and silently stolen away.
1t is needless for me to say that | was
daZed. But / rushed into the little grocery
and saloon on the corner and dragging the
fat proprietor out on the sidewalk pointed
toward the spot and asked him where that
house had gone. He appeared amazed and
remarked wonderngly that he had no re-
collection of ever having seen a house
there. And it was the same with all the
others in the district Not one of them
remembered that a house had stood over
the hole in the lot. That's all there is to
it, | can't find my house. nor can the de-
tectives. Its whereabouts are unknown
just went back to the broken down fence
and leaning over it consoled myself with
the thought that my loanee was consider
ate not to have dug up the lot and taken
a c / am Ctt for
about one-third of the loan. II you know
of anyone that wants a lot in the western
Polish settlement send em to me: and.
say. by the way. telr 'em they won't have
to go to the trouble of digging a cellar;
it'll be there