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 of 6 per cent., but he preferred “to do business with us.” In November, 1912, plaintiff wrote Kittel in reply that if Ellsbury wished to renew at 614 per cent. she could do so. Kittel promptly answered that he did not believe he could secure 614 per cent. interest; that if he would like a better interest return he could get some good loans through a bank at Towner; that he would look after these loans the same as any loans from Casselton or Lucca; that he would expect to investigate the security, the papers, and the title, and to “look after the principal and collection of interest for you” until the loan was fully paid. In December, 1912, plaintiff wrote Kittel that he would renew Ellsbury loan at 614 per cent.; otherwise, “they may pay it in to you and I will place it elsewhere pretty soon.” In December, 1912, Kittel, president, answered that Ellsbury would not accept proposition; that he would draw satisfaction of the mortgage and send it to plaintiff and plaintiff could execute it and “send it to us for collection.” In this letter he further wrote about some loans at Towner and about splitting commission, so as to net 614 per cent.; that—

“if you want me to get you a couple loans to take the place of the Ellsbury loan I will get them, and just as soon as the interest stops on the Ellsbury loan it will begin on the other loans for you. Any loans that I sell you will be handled by the bank here; we look after the collection and remittance of interest and attend to the loans for you until it is finally paid and discharged.”

Plaintiff answered this letter by stating the proposition to reloan the Ellsbury loan at 6% per cent. annual interest would be satisfactory; that he wanted abstracts showing first mortgages duly approved by Pollock o1 Callahan. He trusted that in replacing of loan he would get it on land that was enhancing in value. This letter was addressed to Kittel, president. In January, 1913, Kittel, president, wrote that he would procure for him one or two good loans to take the place of the Ellsbury loan; that he might rest assured “that whatever loans I take on and put my money into and then sell over to you are good loans and well secured”; that “the Ellsbury loan proceeds will be deposited in the First State Bank of Lucca and they will allow you interest on the money while it is there and until I can get you a new loan.” On November 28, 1913, Kittel, president, wrote:

“I was under the impression that the Ellsbury loan had been paid and a new loan obtained for you. Evidently this is not the case. The Ellsbury loan is now past due and should be cleaned up.”

On the same day he wrote another letter about some mortgages on