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Updated: June 24, 2025
The regular selling price of judgments was twenty-five per cent., with a commission of one per cent. for effecting the sale. In a few months, Wolford had all his money invested in judgments. This business he continued for several years, meeting with but few losses.
"A great many cases of debt are decided by me every week, on amounts varying from one to fifty dollars," replied the magistrate. "As soon as a judgment is given, the debtor has to pay the money, find security, or go to jail, In most cases, the matter is settled by security for six months, when the debt, with costs and interest, has to be paid." "Legal interest?" asked Wolford.
Hundreds of Judah's men were on the stream in gunboats to head him off. Hobson, Wolford, and other cavalry leaders were closing in from behind. The raiders seemed environed by enemies, and sharp encounters began. Judah struck them heavily in flank.
He smiled, or rather smirked for a smile is always natural, never forced and introduced various topics of conversation, one after the other, with the manner of a man whose thoughts were far away from his words, and who yet wished to be very agreeable to a personage from whom he wished a favour. "What do you think of the news from Washington to-day, Mr. Wolford? Strange doings there!" "Rather."
Besides, you will find but few persons out of whom fifty dollars, or less, may not be obtained, under the pressure of an execution." "I like the idea amazingly," said Wolford, thoughtfully. "Forty per cent. per annum! Capital! I will buy judgments." "I have two hundred dollars' worth in my desk now, which I have directions to sell. Do you want them? They have six months to run.
Borrowers quickly presented themselves, but no one got money except on the most tangible kind of security, and at a ruinous interest. Careful as he tried to be, Wolford was not always successful in his operations. One or two failures on the part of his borrowers, made him acquainted at a magistrate's office, where he acquired another new idea upon which he improved.
"You are too late," replied Mr. Tompkins, when he communicated this intelligence. "Why so?" asked Wolford. "I have made up my mind to sell." "I don't want my money." "Oh, very well, I can keep it." "On what security." "My note of hand." The miser shrugged his shoulders. "Don't you like that security?" "I have no objection to your warehouse property." "But that I shall sell."
Tompkins, that he could easily get some one else to take the mortgage, was not too well relished by Wolford, If he were sure this could be done, he would be content to accept an increase of interest and continue the loan, for the security was of the very safest kind, and ample. "I must think about this," said he to himself, as he walked homeward, after parting with Tompkins.
Some men of this stamp had personal fighting qualities which kept them in the service in spite of their tactical ignorance, like brave old Wolford of Kentucky, of whom it used to be jocosely said, that the command by which he rallied his cavalry regiment was "Huddle on the Hill, boys!"
Twenty per cent. off will be just forty dollars here they are." Wolford carefully examined the documents which the magistrate placed in his hands, and, after considering the subject for some time, said that he would buy them. His check for one hundred and sixty dollars was received by the magistrate, and the judgments became his property.
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