, 1872-10-14
THE ABSTRACT RECORDS.
Some Additional Facts in Re-
lation to the Matter.
L Statement Of tile Grievances Com'
planned OF by tAe Owners OF the
Abstract Books.

fated the omission of MANY important and lnter-
esting fent1ises OF the latest aspect Of the sub
iect Of the abstract books, and the res'1sts OF
seyeral interviews with different members Of the
abstract firms are herewith given. we haFo the
authority of probably the best posted OF these
members for the statement that the chief object
to be gained by the purchase Of the abstracts py
the new incorporation, Of which Van Il. Higgins,
r. G. Wright S. j. Walker, and J. Irving Pearce
are the incorporators, is that the stockholders
in the hitter mny enjoy the benefit OF exclusive
access to the records, and not, as q morning pa
per incorrectly afhr1ns, that they may organize
corner on the. abstracts. AS, for instance,
the incorporators named are each and all either
capitalists bankers, or heavy real estate owners,
dealers or brokers. These parties, al men OF
rreat wealth. have conceived the idea that they
can we'll afford to pay $500, 600 for the abstract
books, in order that they may thus monopollze
the business Of loaning money upon, and the
sale md brokerage OF real estate because, IN
the event Of acquiring control Of the records,
they will then be in position to facilitate their
business bv the prompt furnishing Of abstracts
Of title to parties interested, while those outside
OF the incorporation will have to wait weeks, and
Rihh'ps RTh Which, %onths o aos gfy t8s sne
enfs safe ths aseurity 0p9i Il addition to - thus
immense advantage, the inside operators can
readfy sell to abstract makers the privilege OF
access to the books for sum itself sufficient to
pay 3 large return on the Investment Of $780,
600. In fact, this plan in part Of the main
scheme, and it is known that the SUM OF Sl00,-
600 q year will be paid for the privilege This,
it is conceded, can be done, and yet leave a mar.
incorporators will still retain O controlling pow
er ample to protect their interests and secure
their ends, while the public will be- accon1mo-
dated as fully as may be under the clrcumstan-
ces.
The prospect of the success Of this immense
scheme will doubtless be regarded with dis:
may and apprehension by the people OF
Cook County, and its agitation at this
time will doubtless haye the
and Judges Of the Courts to speedy conclusion
of the long-peuding negotiations with the nb-
stract men. The latter openly declare that If
the county does not hurry up and bring matters
to head, they stand ready to sell the abstract
they have been made the victims Of 9 malicious
persecution, at the hands Of the State Legisla-
ture, egged on by land sharks and buyers OF tax
titles here, under The provisions Of the Burnt
was to compel them to sell their property to the
county, for whatever price it chose to offer.
Among the various disabilities imposed upon
them BY the law, they specify the section which
limits to $3.50 the amount which they
may exact for each separate conveyance set
apart in any abstract, and which subjects them
to indictment as extortionists, and fine Of
81, GOO in case larger sum is exacted They
claim that they cannot furnish abstracts at this
rate, as it leaves them no compensation for tho
numerous other matters which must be in
cluded,. such rs judgmenta, liens, and court
proceedings in general. The section of law
which constitutes as forgery the alteration Of
the abstract books or the furnishing Of inten-
tionally false abstracts, they regard as equira-
lent to charging that the men who, for many
years past, have devoted their timo and capital
to furnishing correct md reliable alb
etracts Of titles to the people
of Cook County, now stand ready
to take advantage OF public calamity and resort
to series Of outrageous frauds. They elso
tnke exception to the provision of the statute
prohibiting the introduction. as evidence in
court, OF the abstracts made since the law went
into effect, but which allows 4, B, or G to pro-
duce in court the abstract which he had pre-
viously obtained. In point Of fact, the abstract
men are completely disgustcd with the present
position of affairs, and are evidently determined
upon forcing, Immediately, definite settlement
Of the vexed question.