Finger Posts on the Way of Life by T. S. (Timothy Shay) Arthur
page 61 of 232 (26%)
page 61 of 232 (26%)
![]() | ![]() |
|
"Yes--look at it. You have just paid one hundred and sixty dollars
for what will yield you two hundred and six dollars in six months,--for you must remember that you will get legal interest on the claim you have bought. Now this is a fraction over fifty-five per cent. per annum. What do you think of that for an investment?" "Capital! But have you much of this kind of business?" "Enough to, keep several thousand dollars constantly employed for you." "Good!" With this brief ejaculation, that came from Wolford's heart, he turned away and left the office. On this operation, the magistrate made six per cent. The regular selling price of judgments was twenty-five per cent., with a commission of one per cent. for effecting the sale. In a few months, Wolford had all his money invested in judgments. This business he continued for several years, meeting with but few losses. He could then write himself worth twenty-five thousand dollars, and began to find it necessary to seek for some heavier investments than buying judgments, even if they did not pay quite so well. Loaning money on mortgages of real estate, at about ten per centum, he found a very safe business; with this he united the shaving of undoubted paper, at from one to two per cent. a month. Mr. Tompkins |
|