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"boss." Again, the people, such as brewers or whole
sale liquor dealers, who generally hold the mortgage,
do not consider you a good business customer for this
reason, and will not give you the same attention as
they do others who are not indebted to them. Of
course, a first-class, honorable concern will, not take
advantage of your situation or make any distinction
in their treatment of you from other buyers, but some
will do so and imagine that almost any class of sup
plies is good enough for the customers of a mortgaged
place. This is one side of the question, a had feature,
necessarily, and one that will be detrimental to your
business. On the other hand, it is something of a
benefit to have your place mortgaged, for in case you
should be disposed to sell the place, you may then
more easily find a customer to buy, as many would be
more readily satisfied when it did not take so much
cash to complete the financial transaction.
For instance, a business representing the value of
$50,000 or $100,000 is frequently very difficult to dis
pose of, it being seldom that any buyer or investor is
willing to risk such a large sum, no matter how good
the business may be; but where there is a mortgage
of from $25,000 to $50,000 or a similar proportion
on the price asked, it is easier to sell in a more satis
factory manner, especially if the mortgage is held by
an honorable party. In consideration of these facts,
therefore, I would advise any person in taking a place
at such a great cost as $50,000 or more, where there
is so much risk, to buy it with a good-sized mortgage,
or know that they will be able to secure one when pur
chasing, as it will relieve him of the fear of losing as
much—-in case there should be a failure—as die would
otherwise.
Where the investment requires a large sum and
where it is the intention of the buyer to take up a