When Ralph Carter ( Albert Roscoe ) embezzles $50,000 from the bank where he is employed, his wife Gloria ( Dorothy Phillips ) phones bank official Jerome Harris ( William Stowell ), a wealthy man who has loved her for years, and is told that the charges against Ralph will be dropped if Gloria will offer herself as security against her husband's "loan." Accordingly, she moves into Jerome's house but rebuffs his advances, and soon he leaves her in peace. When Ralph, who has been seen in the company of chorus girls, angrily demands money from Gloria, Jerome appears and orders him from the house. Because of the covert dealings of Meyer ( Sam De Grasse ), Jerome's secretary and a German spy, Jerome nears financial ruin, which moves Gloria to pity. Having learned of Meyer's duplicity, she confronts the spy, and as they struggle, Ralph enters and is killed. Meyer is arrested, and Gloria realizes her great love for Jerome.
This 1918 silent drama was produced by The Universal Film Manufacturing Company, starring Dorothy Phillips, William Stowell and Albert Roscoe. As with many silent films, the survival status of The Mortgaged Wife is listed as unknown, sadly suggesting it is now lost.
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