The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-08-27
IZdSOH as R6ALe0 bV his
S6UG2d1Y CO2IZzdnGfR Paris,

was silent for block OF the way. dazed
| oy this Incredible fortune. Finally. he
My dear friend" nc said, Il seem
| 10 he quite awake. and yet this event is
aiter the manner Of dreams OF the iilu
sion of some Oriental drug.
To reassure himself he stopped on the
ne tall buildings. Then he took his wal
draft, read aloud the signatures on IL.
and counted the figures slowly. Two
hundred thousand" folded Il with a long
sigh OF satisfaction and returned the wal
Yes, he said Il am quite awake,
and l have somehow got two hundred
have met no fairy godmother; I have
seen on genius rising In q wrcath OF
gray smoke. and yet have two hundred
thousand dollars. and am wide awake
He went on slowly a little farther up
Broadway Then he stopped as though
MIR; Parks. " he said. Randolph Ma
son directed me 70. go 20 Europe and
hide this money in my daughter
apron; ] will so tomorrow on the Bal:
explain this miracle TO me. | will run
UP home now for the luggage"
Then ne took car TO his train and
| returned TO the banking house OF
explanation / walked straight through
the the build b5ildipg to the private office OF
tue stuer Ddnher ana SAT down Do
fore him at his table.
"Solmeycr.' ] said. wore you sure that
the brick which YOU have fust bought IS
gold p
The old man smiled nnd stroked his
long: patriarohal beard.
Yes. Mr. Park he said. this one
Is gold. Gates got the brass one
60, lmposs5b1s; ndptsasd REPLIED Myr9I NJ Gates
scrivener for the full value of this prop
erty. His security is prior 10 YOURS
How could his brick be brass7''
The old mans black eyes twInkled in
their deep sockets.
Mr Parks" he said. you do not know
the Prophets,, Is 1t not written Whose
evil way shall fall himself in his own
pit? -
The quotation is hopeful" ! said ''but
into what Dit did Myron Gates fali?'
in the face.
Randolph Mason said that we were
not to tell this thing TO anyone" ito
avoid change Of notice under the case
cltedl. but you are his secretary. and
take IT that he has sent you TO see II we.
ourselves. understand IT."
Then he pulled out the drawer of the
table and laid before me the mortgage
a copy Of the one executed for Myron
Gates n report of the supreme court OF
appeals OF West Virginia. and q COPY OF
the Acts Of It's Legislature Each volume
WAS marked with q slip of paper. The
banker opened first the vol,Uae Of Acts
You Will observe" he snid. that the
old form OF acknowledgment for corpora
tions was changed by this act. and new
form given. In which the president OF
the corporation must certify under oath
that he Is such officer. and authorized to
execute such paper. Now, the scrIven-
er who drew the Gates mortgage used
the old form OF acknowledgment. rs he
found 1t In the form books, while our
mortgage. you Will notice. is executed
under the new form of acknowledgment"
(See footnotc.)
Well. 7 said. what important effect
can that have? The Gates mortgage Is
IN the certificate of Acknowledgement.
That does not invalidate the mortgage
nor affect the validity of the bonds"
ume OF reports, and passed It across the
table to me. his finger marking the page
IT was q decision OF the court Of last
resort In the state where the morlgaged
property was situated, holding that such
a mortgage. certified under the old form
OF acknowledgment could not be admit
ted to record so as to create lien on
ment was void; and that spreading such
a mortgage, so acknowledged on the
county records did not mako It a re-
The matter was now clear. The Gates
mortgage was not lien. Gates WAS only
a general creditor. The first and only
Insi Ile5 ort on these coal properties was this
record. The estate pledged was worth
merely the amount OF the last mortgage
When II was foreclosed. as It doubtless
would be, Hurst & Solmeyers clients
the Innocent foreign holders OF the really
secured bonds, would be paid In full
Myron Gates would come in after them
as general creditor, but there would be
no assets with which to pay his debt His
bonds were. therefore, worthless his
debt worthless, The bank had been paid
In cash, the note Iiquidated; thus the
bank was not affected. Hurst & SOL
meyer would make $50, 600. Myron Gates
was the only one upon whom the loss
would fall. He would be out 5000, 600.
(Foot note,-Tt may be suggested that
n scrivener would not likely make such
an error In the acknowledgment as that
made here In the Gates mortgage. The
best answer is that such a mistake was
made In n mortgage upon coal properties
In West Virginia, and can be seen In the
office Of the clerk OF the county court OF
Taylor county, This mortgage was pre-
pared by one OF the best firms OF attor-
neys in New York, and involved sum
I'm excess OF the sum involved here.)
I understood now why Randolph Ma
son had merely said. Let the man exc
cute this mortgage and pay the bank"
When he had looked nj the legal paperr
he had instantly seen the old form OF
and knew that IL was