CHAPTER X. 



THE TKUST DEED. 



Drawing the mortgage or trust deed is a very 

 important part of a bond issue. The mortgage 

 outlines the duties of all concerned, describes 

 the security and safeguards the bondholders. 

 The mortgage should be drawn by a man who 

 is a good lawyer, an eminent title attorney and 

 who thoroughly understands timber lands, lum- 

 ber operations and making bond issues. The 

 three following mortgages consist of two or- 

 dinary trust deeds and one in which two com- 

 panies combine as mortgagors. These docu- 

 ments show affairs as handled in the South and 

 Pacific Northwest. The titles covered by them 

 were all examined on the original records, and 

 therefore, they are correct and the descriptions 

 accurate. The mortgages are given in full de- 

 tail to facilitate their use as a guide and ref- 

 erence or a check on other trust deeds. 



To prove the soundness of the practice of go- 

 ing to the original records on matters of title, 

 it is only necessary to say that all the bonds 

 covered by these mortgages are now worth a 

 premium. These trust deeds were drawn by 

 Mr. Edward E. Barthell, Nashville, Tennessee, 

 who is probably the ablest title attorney in the 

 United States and one of the best bond lawyers 

 in active practice : 



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