What's Happening?
In January 1915, Della Crummedy signed a mortgage deed to secure a $25 debt owed to C.H. Darden & Son, likely for undertaking services. The collateral for this debt was a one-quarter acre lot located on the eastern side of Stantonsburg Street, near the Colored
Graded School in Wilson County. The deed was recorded in Deed Book 97, page 70, at the Wilson County Register of Deeds Office. A penciled note on the document indicates that Crummedy paid off the loan by May 11, 1915, leading to the cancellation of the mortgage.
Why It's Important?
This historical document provides insight into the financial practices and social conditions of the early 20th century, particularly in the African American community. The use of land as collateral for relatively small debts reflects the economic challenges and limited financial resources available to individuals like Della Crummedy. It also highlights the role of local businesses, such as C.H. Darden & Son, in providing financial services to the community. Understanding these historical financial practices can offer valuable context for current discussions on economic equity and access to financial services.
