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New-York tribune. (New York [N.Y.]) 1866-1924, June 30, 1907, Image 30

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Persistent link: http://chroniclingamerica.loc.gov/lccn/sn83030214/1907-06-30/ed-1/seq-30/

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PITFALLS FOR THE UNWARY
Till". Chinese are said
ttj pay their physi
cians to keep theni
well; the Americans pay
their phvsiciansonlv when
they are ill. Likewise';
with the ■• majority <•[
] eiiple; they do not con
sult an al t ":•!!«.• v i ill they
are in trouble. With both
1 heir physician s anil i heir
lawyers must people v y'uld
fare bet ter n they pursued
ihe Chinese plan, - paid
their physicians !>> keep
them well ami their at
i irneys to keep themoul of
trouble', — for, a ; from the
simplest injury neglected
a M-n< his illness may fol
li.w. s<> from the least » ■••:iij.lo\ nil apparently fairest
business transaction (lire financial consequences may
follow, unless the pitfalls 11 the way have been
< '■' ■ ■ ■■! with the aid of an experienced attorney.
The experiences which follow have been gleaned
from the recollect ions ut ah attorney whose jiraetice
l- in one vi the interior counties of Pennsylvania:
While they occurred under Pennsylvania law, in a
general way, under the same circumstances] prac
tically the same results would have occurred in any
other jurisdiction.
Warning tor Young Home Builders
THE mechanics' lien law, in one form i>r other,
prevails in practically every State in the Union;
with slight modification , of course; in various States,
„n<l is .i pit in which one's sayings may be swallowed
up quickly. Your young friend John Bender; who
has beer) saving his money carefully for a number
of years; has accumulated sufficient money to pur
chase a building lot, and wishes to erect a home.
You have one thousand dollars '<• loan, ami km in.^
Bender to be a steady young man you loan him your
money; taking a mortgage on the land to se
cure the loan. Bender proceeds tv build his home,
and when it is completed pays the contractor and
moves in.
Now then, supj>ose the contractor is either un
fortunate or dishonest and does not pay fur the ma
terials used in the construction of the house. What
happens? Within three months after its completion
the men who furnished the materials for the house
can file mechanics' liens against the property, which
■■'■ ill take precedence of your mortgage in so far as
the amount secured by your mortgage exceed the
value of the bare land before the building of the
house was begun; and unless the land is unusually
valuable you will lose practically your entire loan.
' M" course, friend Bender will lose every cent he has
invested in the property.
On the other hand, suppose Bender's honesty is
not quite what you thought it was, -suppose he
puts your money in his pocket instead of paying it
over to the contractor^ — then the contractor will
file his Hen on the property; again taking precedence
<.(' your mortgage^ anil will sell the property on exe
cution process, thus di charging the lien" of your
mortgage; and forcing you either to buy in the prop
erty and make what you can on a resale, or to pocket
the loss uf the larger part of your loan. For, as in
the other case, the mechanics' lien and the costs of
the ale will be paid out of the fund before your
mortgage] excepting only so much of your mortgage
;is equals the value of the bare land before the house
was built.
SUNDAY MAGAZINE FOR JUNE 30, lt><»7
readers of .1 sporting page. When Mike Dunlin
announced this spring his ..... of quitting the
Giants unless McGraw gave htm more salary, at
least five million citizens rated that bit of news
al«>ye any other of the di' — more vital than the
ship subsidy bill, the Harriman investigation, or
the Japanese-United Stares imbroglio. And yet
.so shrewd a manager as McGraw did not estimate
.: hero's importance ;:i luring fans to the diamond
as worth five hundred dollars, the amount I>• • 1 1 1 •. 1 1
demanded
In point of fact, the ball player's duilv prayer
should be. "Heaven save me from l>eing a hero!"
Greater the tarne — greater the roast. "A-ha-a,
-mar: I .' you got what was comin'!'- jeer the bleach
ers; '-liat-kto Podunk; you big lobster! "^--'Make
him ••tit!** — " lie can't hit a barn do. -r with a Hail*'
— '"He's got a face like a horse!" Five hundred
t'.ins. wlit.se worship has been bestowed on this par
ticular victim; rise • ■!! their hind legs to defend him.
Bui what are five hundred against five thousand?
1>.!:;. <r.uv -th<- people rule! The ball player,
knowing this, tries to school himself to endure all
things from .til men while he is in the game. Hero!
Why, he docs not evoke the respect accorded a
yejlow i log. The vulgarity of abuse heaped ujion
him is beyond belief, ami little wonder that the
player sometimes retaliates. To <!o s, , verbally
only puts the fan in throes of ecstasy. All his friend's
colla">orate to overwhelm the £ lobster" — her.. >••
it was that Rube .'.:■■•• brilliant of ot-.r
nation's left han.led pitchers, raced upon the gram!
stand and threshed a torment The .same thing
Simple Legal Traps Thai
May Catch Your Savings
By
P. J. WILLIAMS
Travels of a Promissory "Note
AHi>N A fitl »lder of a i proi
note, Idii tin tmefoi luel>efore
■ the note free of all defense |
c, !<'■!• Smith 1
c guaranteed t«> !■<■ sound .
'• f< >r : hi- :
and h I i>u have i>wm .1 :he
fi ir a ■ find •he anii |
two or three p.r. ins, and i ■ blind mi one eye W< 11,
you are bi mnd \ i»u vv< >n't pay the n< >te at
if B«>1) S-:i:- : , wa v ■ thing you vould
him int< i the bargain
Hold on, !u\ friend! \VI
owed Sam Jones for a horse he hat! bouj;
mdi rses your note over to Jones Perhaps Ji nes
• '■ -' ' an in the next county, and indorses your
note over to him At anj rati n te gel
the hand: ol Jom . an innocent purchaser for value
•el ■ mat urit y
Now then, look out ' There i: a d
ing you, and you will lose money,
tellers sa; \Vhen your note l>evt/mes du<
sented for paymeni You refuse to pa) ii It is
protested, and goes into the hands of an atl
ctillei-titm; nil is threatened Then you «■■
■ :■ ■ ■ ■ \ iil fix Bob Sm tti! yi i
What •!■ i yi ;: at • ■!.,-. „\ - " h „,,;■. n
:<t you to pay it" you i onti t i ■■ Better
pay the note, and then sue Smith for damages.
i n't worth anything? Well then, il
bad, Mr. Blank : but that doe ,n< >\ affi I
II -I in the hands oi . ■
■ • for value before maturity and
to be i aid "
The n ou do pay it. and il
!'< en pi pi ing your atton i
1 ..;. .i | i ized bill • i costs beside
Be Sure to Record Your Deed
UNRECORDED deeds for your
cause you heavy ln^s 5,,,,!!- .|. ( \ |
I■• ■ ■;■ Barn< I •.. c He bought ten a<
bij Wilhelm farm, scraped and saved and fii
md paid for Always wa hard up and
■ to have his deed recorded . but I
ing fees were three dollars, and he ni •. < ■
happen to have that extra three dollai I I .
the meantime Wilhelm indorsed noti
am. .nut for his brother, who was a w<
Wool weni down in price, and Wilhelm wa
to negotiate a large mortgage on his farm • • .
his indorsements and an additional un I
brother .out. The mortgage was oi eoui •■
ler i ■ ■ ■
by the bank's atl n
they examined the
records :n the coun:
cooler's office and .
a clear title in Wi !
for the whole of the f
and drew the m ■
accordingly. The : t
gage was executed
recorded.
The wool mark* ! v rst
tosrhash; so did Wi! :
so did his brother . I
<•• d:d Barnet: i s
mortgage given by ' '.
helm to the bank t.*>k ■ -. -
cedenceof Barnet's
corded deed for th
acres, and the ilectv: n
value of the land ha .
such that even after the whole farm had been
l>v the bank under its mortgage that institution
several hundred dollars. Of course, the banl
cers wore reluctant to sell X. nut's tr.ut.
sympathized deeply with him; i: was very urti
tunate; but the bank had lost a considerable ■-■ 1
of money as it \\a>. and business was busiru
Which didn't bring Barnet's proj-erty back to hi:
Hard on the Subtenant
A SUBLEASE^ that is. a lease from a tenant to an
undertenant.* is sometimes a dear experience,
for the under tenant ; for all property <-n a le;isehoU
is subject t<» distress for rent in arrcar. .\ simj'le
propt>sition; but it cost Harry Stover.two hundreil
ami titty dollars t<> learn it. Stover had a neat little
grocery store in Duncannon. Expenses wore light;
«>ne clerk anil a boy to deliver orders constituted the
workin.vr force; prices were correspondingly low. a:. I
the business prospered. Finally Stover bought
horse and wagon to deliver orders.
While the lui>iness was growing, the credit account
of George Snively, who lived next door to the store,
had also grown, 1 and to undue |'ro|>ortions. Snively
leased his home from a man who had large pro] erty
interests. The property had a good stable in the
rear \vhich was unoccupied. Stover would sublease
tlie stable from Snively to keep his horse in. and the
rental for the stable would soon pay Snively's -■■ re
bill. No sooner thought ©i than done, and the next
day Stover's nobby horse and wagon were installed
in the Snively stable. But Snively was indebted to
others besides Stover. For ::.:.: •■. there was h:s
landlord. Little l>y little the oven! , •':V l
up. until there was over two hundred i
arrears. The land! examined his 1«
not contain a waiver <>t the exemption laws.
ly"s household goods were i»t worth three hundred
dollars. The landlord thought instituting j ■ -
ceedings to have Snively ejected from the prem
One day. however, "the landlord happenei :•
pass the house occupietl by Snively. an.i ■:•'
Stovers horse and yragon in the' stable. A land
lord's warrant was issued to levy t>ir Snively's
rent ill arrear; a levy was made on Stover's horse
and wagon^
The result: Stover consulted an attorney; then
he consulted his bank account; then he had a talk
with the cashier of the Lank; then he discounted a
note for two hundred dollars, paid Snively's land
lord Snively's rent, carried over Snively's account
on his store books :.» the profit and loss account
(which always is a loss account in a grocery store),
and removed hi nobby horse ami wagon to a livery
stable.

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