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 wild lands in Billings county, one for $2,500 and the other for $3,000. Plaintiff responded by not accepting such mortgages and stating that he had concluded it best for him (Kittel) to reloan the $2,000 Ellsbury loan upon real estate at not less than 6% per cent. In January, 1914, Kittel, president, wrote, inclosing note of the Alfalfa Valley Land Company for $2,000, payable December 1, 1919, at 7 per cent. interest since December 1, 1913. He stated:

“I got you this loan in place of the Ellsbury loan. I have had some trouble in getting you a loan to net 7 per cent. that I would recommend. This loan is well secured on a good quarter section in Pierce county, N. D. The mortgage in your favor has been sent up for record, and when it is returned we will register it here and forward it to you. The interest for last year I will have to check up. We are a little mixed up with Lucca as to just what we are to get from. Ellsbury.”

Plaintiff responded by returning the note and stating the loan was not satisfactory; that he did not expect to make a loan and have the papers made out without first laying the proposition before him; that the loan was too long, as he was 68 years old; that he and his wife were not in good health; that if he accepted the loan he would want an agreement from him as president of the bank to cash this loan or resell it at any time that he would wish and to pay to him the full value of the loan; and he would want to know that the real value of the land far exceeded the value of the mortgage. In this letter he also stated that he wanted to know whether the land was wild or improved, whether the land-was level or hilly, who this land company was, and why the head officers of the land company did not sign the notes. On January 30, 1914, Kittel, president, answered:

“I have been looking around for you during the last year to get you a loan that I could recommend and that would bring you 7 per cent. interest.”

“W. F. Kittel and myself shall be glad to give you an agreement in writing to take this land off your hands December 1, 1916, or on any interest payment date thereafter, if you or Mrs. Brandenburg request us.”

“Ordinarily, we would not do this; when we sell loans we sell on its merits and we simply do the best we can”; that this land company owned some 25,000 acres of land in McHenry county; that he handled most of their business down here; that the secretary and treasurer is spending the winter in Europe; that the assistant secretary and assistant treasurer were