The Bridgeport evening farmer., 1917-08-13
SAYS DEEDS HE ISSUED ARE ALL
 GOOD IN COURTS New England Development Go. Promoter Defends
 Firms Reputation. NOBODY HERE WILL
 LOSE, HE ASSERTS Inquiry Shows Many Real Estate Businesses Start on Shoe String.

Investors in the New England De- velopment Co.'S properties including Sylvan Park, Lakeview Terrace. Greenla;wn Terrace and other inn proved sections under the control Of the company are safe in their deeds, William H. Moffitt, president Of the concern, stated today.
 Following the suit brought against The William H. Mofffft Real Estate Co.,, controlling. Nassau Heights, Min cola, l.. IT,, to recover on a mortgage held as a prior lien on the property there, fear was expressed that titles here might not be valid.
 In a statement made public today Mr< Moff1tt declares that the suit in the New York courts against his com pany there should not have been brought as the $7,Oe0 mortgage had been liquidatesdl to the extent of over A 900 and that undue advantage was taken of the condition of the realty markets to squeeze him.
 He further declares that 90 per cent. of the real estate men of New York city are today in the same predicment because of the condition of realty val- ues in New York state. He asserts that he now has a person who will take over the mortgage and that with in two months time the suit will be withdrawn and the investors made ab- solutely safe in their holdings.
 In the case of the Miller Park and Greenlawn properties in Stratford and Black Rock, controlled by the New England Development Co.,, a transfer of interests to the previous owners of the land has so established the hold ings that titles will be given direct by the owners of those properties who have again taken them back into their hands.
 The Robins Co. has similarly ar- ranged to guarantee deeds to the Wa verly development lots sold by the New England Development Co., agents.
 "I have given over 100000 deeds to purchasers of real estate in my ca reer,,' MT. Moh1tt told a. reporter for The Farmer steday. "and not one has ever found a flaw in the title, and al- though the real estate market has been bad for some time I have so ar- ranged my transactions< that none will lose and look forward to good active business in the near future
 | In connection with the inquiry made by The Farmer into the real estate conditions, it has been found that many real estate concerns have oper. ated in this city during the last two years upon what is termed a shoe string" Men with less than $200 have come to the city, bought a tract o1 land upon mortgage, cut it up into lots some of which have barely ob. served the requirements of the city engineers office in the layout o1 streets and the filing of maps.
 Ihes, properties have been held by the, development concerns upon wha, is termed a blanket mortgage re-
 quiring the payment of certain speci fled sums by the secondary parties be. fore the title would be given to tho 1 third party purchasers
 In many instances it is doubtful i conditions take a slump whether these titles will be validated by the orfgina owners of the property because of th< failure of the secondary parties tt
 make good upon their agreed pay ments.