Salt Lake Telegram | 1925-10-14 | Page 8 | [Untitled]

I ITHE THE RAPID RAPED GROWTH OF INDUSTRIAL PLANS I I I I i I I S H THE ED-THE CLOSED MORTGAGE The growth of industrial plants railroads and corporations co has rendered ren ran dered the old closed mortgage generally gen era lIy useless The rhe closed mortgage is not used in financing properties today as much as formerly This type of mortgage placed a limitation upon the amount of ot bonds which could be Issued against the property named In the mortgage Frequently Frequent Frequent- ly required additional funds either cither for plant additions or other purposes The closed mOrtgage mortgage mortgage mort mOrt- gage stood In the way of or additional bonds if ft th the total amount named I I In the mortgage had been Issued I IThe The manufacturer to secure additional additional additional addi addi- funds had to resort to a second second sec eec ond mortgage mort or to a first mortgage mortgage mort mort- gl gage ge on property acquired after the theold theold theold old closed mortgage had been is Is- Is sued I Tho The growth th of industrial plants railroads and an corporations and the consequent nee need t for tor additional capital capital capital cap cap- ital at frequent Intervals has rele- rele gated I the old closed mortgage to the financial heap v Copyright 1925 1325 Associated Edit Edit- tors Inc t