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mortgage, it is then best for him to see that he secures
as long a lease as possible, with a reasonable rent, for
the principal reason that no responsible firm, such as
a brewer or wholesale liquor dealer, would take the
risk and accept the inducement, u'nless this is done,
to advance the amount of money required.
If a man succeeds in getting a good-sized mortgage
on his place, he will be benefited, because in selling
the place he would receive a larger price, proportion
ately, as the purchaser seldom takes into consideration
the amount of the mortgage, and would the more
readily find a cash buyer. There are other instances
also when it is beneficial to have a mortgage, such as
illness or death, when it would become necessary to
close out the business at short notice, and, even under
compulsion, the, mortgaged plaee would sell better.
This is, of course, jvhere one individual owns the place,
with simply his own money invested. With a stock
company it would necessarily be different. They would
not probably allow a mortgage to remain upon the
place. But it must be apparent to every one that a
mortgage is not necessarily detrimental but, on the
contrary, may be of benefit. All this is. merely a state
ment of opinion, people being left to act upon their'
own judgment. If dealing with a good, reliable con
cern, holding a mortgage upon your place, and you
are known to be a respectable, hard-working business
man, you will never be pressed by them, nor will they
act againstyourinterests, because it would be injurious
to their own.
Naturally, where there is a mortgage it should be
recorded, as the law requires, and the owner or holder
should see that it is renewed annually—this relates to
movable fixtures. From all this you may come to the
conclusion what is best for you to do.