Sometimes a man will give a number of notes and secure them by one mortgage.
The notes may pass into the hands of a number of people.
Let us suppose that you hold one note and the mortgage, and that the mortgagee comes to you and tenders the amount of your note, should you then surrender the mortgage to him?
By no means, until the last note is paid that mortgage remains as security, and the holder of it is responsible for its safety to the holders of the other notes.
In such a case it is better to have the mortgage held by one party for the protection of all.
BE IN NO HASTE TO INVEST
When a person not accustomed to managing money comes into the possession of a sum that it is not safe to carry about in the pocket, what should he do with it?
Obviously the first answer to this question must be "He should put it in the bank."
We have already given hints as to investments, and to these it is not necessary to refer again, we are now considering another and not an unusual phase of such a case.
Young men and women of all ages are very apt to be inexperienced in these matters. As soon as it becomes known that such people have come into the possession of a goodly amount of cash, which they are not considered competent to manage, it is surprising how past acquaintances suddenly pose as old and unselfish friends, each with a scheme for doubling the money while the owner is looking at it.