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Object: Matrimony
OBJECT: MATRIMONY
by MONTAGUE GLASS
GARDEN CITY NEW YORK DOUBLEDAY, PAGE & COMPANY 1912
Object: Matrimony
BY MONTAGUE GLASS
"Real estate!" Philip Margolius cried bitterly; "that's a business for a business man! If a feller's in the clothing business and it comes bad times, Mr. Feldman, he can sell it his goods at cost and live anyhow; but if a feller's in the real-estate business, Mr. Feldman, and it comes bad times, he can't not only sell his houses, but he couldn't give 'em away yet, and when the second mortgage forecloses he gets deficiency judgments against him."
"Why don't you do this?" Mr. Feldman suggested. "Why don't you go to the second mortgagee and tell him you'll convey the houses to him in satisfaction of the mortgage? Those houses will never bring even the amount of the first mortgage in these times, and surely he would rather have the houses than a deficiency judgment against you."
"That's what I told him a hundred times. Believe me, Mr. Feldman, I used hours and hours of the best salesmanship on that feller," Margolius answered, "and all he says is that he wouldn't have to pay no interest, insurance and taxes on a deficiency judgment, while a house what stands vacant you got to all the time be paying out money."
"But as soon as they put the subway through," Mr. Feldman continued, "that property around Two Hundred and Sixty-fourth Street and Heidenfeld Avenue will go up tremendously."
"Sure I know," Margolius agreed; "but when a feller's got four double flat-houses and every flat yet vacant, futures don't cut no ice. Them tenants couldn't ride on futures, Mr. Feldman; and so, with the nearest trolley car ten blocks away, I am up against a dead proposition."
"Wouldn't he give you a year's extension?" Mr. Feldman asked.
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