April 21, 1917 



HOETICULTURE 



529 



AFTER EASTER 



Weddings = Mothers' Day = Memorial Day 



Fill up your Show Cases and Shelves with another nice stock of Bayersdorfer 

 Baskets and other Seasonable Supplies. We have splendid novelties and all the 

 standard goods in endless variety, Home Manufacture and Imported. 



SEND FOR CATALOGUE AND PRICES 



and see how much you can do with a little money when you go straight to 

 headquarters — The Florists' Supply House of America. 



H. BAYERSDORFER & CO. 



Manufacturers and 

 Importers 



1129 Arch Street, PHILADELPHIA, PA. 



Write for 

 Catalogue 



which are sown in grass and have not 

 cost too much in development, as well 

 as the public conservatories, for the 

 raising of cabbage plants and other 

 vegetables for free distribution during 

 the national "emergency." 



With patriotism the keynote, pupils 

 of the schools of McKeesport and sur- 

 rounding townships will cultivate 

 forty-eight plots for gardening pur- 

 poses under expert supervision. The 

 land, consisting of about twenty-five 

 acres, has been donated for the pur- 

 pose by the Pittsburgh Speedway As- 

 sociation, and will be known as Speed- 

 way Gardens. 



HOW TO SAVE YOUR SECURITY 

 ON A PROMISSORY NOTE. 

 Something now which may help 

 some reader to save the security on a 

 promissory note which he may have 

 accepted in the course of business: 



Wllllamsport, Pa. 

 You are aware that we are in the whole- 

 sale business. Last summer one of our 

 largest customers got behind in hia ac- 

 count, and upon our pressing him tor pay- 

 ment, he stated that he was reorganizing 

 his lousiness, and in order to ciean up our 

 account he gave us a note for our entire 

 account, having same endorsed by his 

 brother, who is a man of means. We have 

 Just received word that the malfer of this 

 note, our customer, has failed, and that 

 the estate is not liliely to pay 10 cents on 

 the dollar. The note will be due in about 

 a month, and of course the signer will not 

 pay it and we will have to look to the 

 brother who endorsed it. We understand 

 tliat when this note comes due and is not 

 paid, the endorser must he notified in a 

 certain way, or you cannot hold him. As 

 there is considerable money at stalEe, we 

 are desirous of not mailing any mistalte, 

 and we therefore ask you to tell us ex- 

 actly how to proceed so that we shall not 

 lose the endorser of this note. 



W. M. R. & Co. 



An amazing amount of security is 

 lost in promissory note transactions 

 because the payee, or the holder, 

 doesn't pay the same attention to 

 holding the endorser that the above 

 correspondent is paying. The law Is 

 quite strict about what is due the en- 

 dorser on a promissory note, for often 

 the endorser goes on merely to oblige 

 a friend, and while the law doesn't ab- 

 solve him from liability, on that ac- 



count, it does require the person who 

 seeks to hold him liable, to be ex- 

 tremely thorough in the doing of cer- 

 tain things. 



The rule is that when the person 

 primarily liable on a note, that is, the 

 maker, doesn't pay it, the endorser 

 must be at once notified. This so he 

 can have all possible chance to save 

 himself from loss by getting at the 

 defaulting maker at the earliest 

 moment. 



Furthermore, the endorser has a 

 right to Insist that the note should 

 have been presented to the maker for 

 payment on the very day it is due. 

 If it isn't so presented, the endorser 

 goes free, because one of the legal un- 

 written conditions under which he is 

 to be liable is that the obligation 

 should first be put up to the person 

 primarily responsible. And the second 

 condition, as I have explained, is that 

 immediate notice that the maker has 

 fallen down, if he has, should at once 

 be given the endorser. 



There are three main exceptions to 

 the rule requiring a note to be pre- 

 sented to the maker on the day it is 

 due. First, you don't have to present 

 it to a maker whom you can't reach, 

 as for instance, when he is absent. 

 Second, you don't have to present it to 

 a maker who signed it without any- 

 thing for himself, and merely aa an 

 accommodation to the endorser. In 

 that case the endorser is regarded as 

 the man primarily liable. Third, you 

 don't have to present the note to the 

 maker when the endorser has told you 

 in advance that you needn't. He does 

 that when he puts the words "waiving 

 demand and notice" on the note under 

 his endorsement. When he has used 

 those words you don't even have to 

 notify him that the maker hasn't paid. 



The laws of all states require notice 

 to an endorser, where there is no ex- 

 ception in the case which makes it 

 unnecessary. How and when must 

 that notice be given? We will sup- 

 pose that a note has fallen due. It is 

 presented to the maker either by the 

 holder personally, or by the bank 

 which he has chosen to collect it, and 

 isn't paid. If the endorser is in the 



same town, he should be notified at 

 once of the maker's default. He can 

 be notified verbally, or by letter, but 

 the written way is the better. No 

 special form is necessary — anything^ 

 that tells him of the maker's default 

 is sufficient, but it should also say 

 that he, the endorser, will be looked to- 

 for payment. 



Of course where the note is handled 

 for collection by a bank, the bank 

 notary who protests it for non-pay- 

 ment is supposed to notify the en- 

 dorser, which he does by regular pro- 

 test notice. 



If the endorser is not in the same 

 town, a longer time is given for the 

 notice. The time allowed is always a 

 reasonable time under the circum- 

 stances of the case. The uniform ne- 

 gotiable instruments law, which has 

 been adopted in a large number of 

 states, gives the time during which 

 an endorser must be notified in dif- 

 ferent cases, but the foundation idea 

 throughout is a reasonable time. 



Touching the manner of giving" 

 notice, an interesting case was de- 

 cided a few days ago by the Pennsyl- 

 vania Supreme Court. This would be 

 the law in any state having the uni- 

 form negotiable instruments law, of 

 which, as I stated, there are a large 

 number. 



In this case an endorser on a prom- 

 issory note was endeavoring to escape 

 liability, on the ground that he had 

 not received notice that the maker 

 hadn't paid. The holder proved that 

 he had mailed a notice to the en- 

 dorser, correctly addressed. The en- 

 dorser, swore he never got it, but the 

 court held that that made no dif- 

 ference. 



The mailing of notice is enough ; the 

 sender of the notice is deemed to have 

 given due notice notwithstanding whether 

 or not it was received. The negotiable in- 

 struments law has changed the former law 

 on this suli.ject by providing that where 

 notice of dishonor Is duly addressed and 

 deposited in the pnst office the sender Ir 

 deemed to have given due notice, notwith- 

 standing any miscarriage in the mails; due 

 notice of dishonor Is deemed to have been 

 given when It is shown that the notice Is 

 properlv addressed and deposited In the- 

 post office, whether it has been receive* 

 or not. 



(Copyright, January, 1917, 

 by Elton J. Buckley.) 



