Mortgages for all of us were quickly processed through a private bank owned by one of Merrill Cooms' entities.
The former apply principally to successions, stamps, registrations, mortgages, &c.; the latter to distilleries, breweries, explosives, native sugar and matches, though the customs revenue and octrois upon articles of general consumption, such as corn, wine, spirits, meat, flour, petroleum butter, tea, coffee and sugar, may be considered as belonging to thu class.
Loans are repayable by Agrarian instalments, and are guaranteed by first mortgages not Credit greater in amount than half the value of the hypothecated flanks property.
The banks may buy up mortgages and advance money on current account on the security of land or buildings.
The development of the large cities has induced these banks to turn their attention rather to building enterprise than to mortgages on rural property.