1934 Harry Johnson's new and improved Bartenders' Manual

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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.