The Virginia enterprise., 1907-08-23
ADVICE FOR THE WOMAN
WHO HAS MONEY TO INVEST
Banker alks of Points Worthy of Serious Consdera.
ton-Second Mortgages Not Regarded a Good
Business Deal-General Questions Answered.
BY Katherine Louise Smith

BY Katherine Louise Smith,
Copyright, 1907, by Joseph b. Bowles.)
Here are some rules regarding the
investing of money which a well
known banker gives to those who ask
his advice:
Ascertain how much property the
applicant has, and if in his own or an
others name.
Sec II the property Is in any man
ner encumbered by mortgages, judg-
ments, taxes or liens.
Has the would-be borrower many
loans or floating debts?
What are his habits? Is he signing
with others, specializing or has he an
extravagant family?
Obtain the best possible information
Ind If doubtful give up the loan, for it
Is better to get small bank interest
than to run the risk of losing the
money and the anxiety attendant ON a
poor loan.
Second mortgages ought not to be
considered by women investors. I'm
less held by the owner of the first
mortgage they are precarious invest
ments, for they are attached simply
to the equity in the land which re-
mains over and above the first mort
gage, and often land does not bring
enough to cover both loans. When
buildings are located on premises on
which woman desires to loan money,
she must Investigate regarding these,
as well as regarding the lot. Besides
seeing If the title is clear and taxes
paid, she must find out when the
house was built, it's cost, what condi-
ton it is in, and if it is insured. II it
: Is insured tho policy should be trans
ferred to her. # not the house should
be insured for her benefit, and she
should hold the papers.
In what case is it right for third
party to hold mortgage ?"-Mrs. J.
A. Adams
When mortgage is given to secure
two or more notes, it is sometimes
placed in the hands of third and neu-
tral party for safe keeping. Each
note holder has, of course, an inter-
est, and all parties are interested in
its cancellation. 1t cannot be can
:eled until every note is paid.
Il have applied for the agency of an
article, but must give bond in order
to obtain it. What does this mean
and where can l get one?"-A Work.
ing Woman.
A bond, which in this case is an in
demnity bond, is an agreement either
on the part of an individual or a com
pany, called 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 usual
ly given by a relative or friend as a
matter of convenience, but a bond
given by bonding company is paid
for at regular rate of so much Der
500, according to the amount of the
bond. Usually one pays by the year,
These bonding companies do this at
their own risk, and they have Offices
! in all large cities, where, upon investi.
cation OF your character and standing
bond will be granted by the company
If you apply.
Il have received draft which does
not come due for month What shall
do about it?"-Mis5 Ignorance.
If you have draft due at some fu-
ture date you had better send it to
your bank for collection. They will
attend to it when it becomes due and
will credit you with the amount.
"How is draft written or made out,
and what is the advantage of using
it instead of a check to pay a bill at
a distance?" ?"-Mary L. S.
If you wish to send a draft you
should have it drawn payable to your
order and indorse it over to the party
whom you wish to pay. In fact, the
, same rules regarding indorsing hold
good in drafts as well as in checks.
OF course every draft shows on it's
back a complete record of the transac-
ton, where it has been, the indorse.
ments and the clearing houses through
which it has passed. All drafts are re.
turned in the usual process of business
to the bank where they were made out,
and may be seen by the drawer if she
desires. On advantage of sending a
draft to pay bill instead of a check
, is that in some states a bank charges
small sum for cashing check, and
thus the payee loses a few cents.
There is never any such charge for a
draft, as the sender of the draft pays
for it when she buys it.
+
do you consider building and loan
Pretty Collar ana