St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1906-04-14

and unless the property is delivered to
be held by the loaner, it should be re-
corded in the office provided by law for
chattel mortgages, usually the once CT
the town or city clerk. These mort
cages give to the person loaning the
money authority to sell the goods TO
satisfy the debt, IL there is default to
pay it when due.
''In what case is 1t right for third
party to hold . mortgage ?'-Mrs. J. a..
Adams.
When a mortgage is given to secure
two or more notes, it is sometimes
placed In the hands Of q third and neu-
trail party for safe keeping. Each note
holder has, of course, an interest, and
all parties are interested In its can
collation.. It cannot be cancelled until
every note Is paid.
81 have applied for the agency OF an
article, but must give bond in order
to obtain it. What does this mean and
where can get one?"-A Working
Woman.
A bond, which in this case is an In
demnity bond, is an agreement either
ON the part of an individual or COM
pany, called a bonding company, to
guarantee persons honesty. The In
dividual or company which signs the
bond agrees therein to make good any
shortage In your account A bond
signed by private individuals is usually
given by q relative or friend as mat
ter OF convenience, but q bond given
by q bonding company Is paid for at q
regular rate Of SO much per 500 ac-
cording to the amount Of the bond.
Usually one pays by the year. These
bonding companies do this at their
own risk, and they have ofices in all
large cities, where, upon investigation
Of your character and standing. . bond
will he granted by the company II you
apply.
| Il have received . draft which does
not come due for q month. What
shall I do about it?"-Miss Ignorance.
II you have q draft due at some fu-
ture cate you had better send 1t to
your hank for collection. They will
attend to it when it becomes due and
will credit you with the amount.
,"How is q draft written or made out
and what is the advantage Of using II
instead of check to pay bill at 1
distance ?"-Mary L. s.
II you wish TO send draft you
should have 1t drawn payable to your
order and endorse It over to the party
whom you wish to pay. In fact, tbs
same rules regarding endorsing hole
good in drafts as well as in checks. o.
course every draft shows on its back ,
complete record Of the transaction
where it. has been, the endorsement,
and the clearing houses through which
| It has passed. All drafts are returned
in the usual process Of business to til,
bank where they were made out, ant
may be seen by the drawer IL she de
sires. One advantage Of sending .
draft to pay bill instead OF checl
is that in some states bank charges
| small sum for cashing a check, an,
thus the payee loses : few cents. Their,
is never any such charge for draft, a
the sender OF the draft pays for i
when she buys 1t.
Il do you consider building and LOAF
associations safe places to tnves
4 money ?'-Spare Savings.
In many places building and loan as
sociations have been found 4 goo
means of putting out money where
will receive fair return. They ar
often formed where savings banks d
not exist, and the method Of doin
business OF the particular one in whic
you contemplate investing should b
understood, for different association
pursue different methods. The price (
land is always to be taken into consii
Grafton on investing. for the higher th
] price Of land is the larger the loan
lrsquired by each member. The RE
If also greater, Of course. Such asst
j Citations, like savings banks. encourae
the laying aside Of small sums Of NOR
i. ey and, considered purely in the al
stract, are q good thing for commun
ty. II you consider investing. you b