, 1875-03-07
Opinions Of Experts in the
Business.
Relief from the Present Monopoly
Absolutely Necessary.
4 Market Bare Of Important Trans
actions.
The Weather Puts a Quietus
on the Loan-Agents.
Rents Generally Reduced, and Leases
Shortened.


Shortened.
ABSTRACTS CT TITLE.
SHALL. THE COUNTY FURNISH THEN!
The question which is at present occupying
the attention Of the County Board is whether
that body shall undertake the providing OF the
public with abstracts OF title to property, ia one
Of the 1.ost important which that body has ever
had under consideration. 1t is already well
Known to those who have had anything to o2
with 1eal-estate transactions that the work WHICH
it ia proposed the county shall perform has
hitherto been in the hands Of private par1les'
snf that snce the CREST FIRE OF 1871 one hrm hAs
had monopoly OF the business by feaso"
Of it's books being tie only ones esc"l-
ing that fire which could be rete1teu ~
as authority on questions or title. II
held now by those who have made the question
study that since the FIRE 80 large number Of
abstracts have been copied in the hecorders
Office ihat it is possible with their aid to get up
90 somplete q set OF indices that the county
could. after season spent in dno preparation,
undertake tho business OF providing abstracts in
q manner which would be satisfactory to all par
ties, Thos, who believe in this idea hold that,
AAo" 1-~@A ~ O0e~>-~
uopolv of the work, still it has ns much right to
Engage in that business rs firm Of private indi~
yiduais, leaving the public, Of course, to decide
upon which abstrnct office they will be-
STOW their patronage. In order to give
the public somc idea Of the FEAST
blitv Of the proposed scheme, TRIBUNE
reporter yesterday interviewed several parties
interested in the matter md gained much infor-
mation which will be valuable giving clear
lieht into the matter. The first person inter-
viewed was
m~ SIMMONS,
Of the well-known firm Of Handy, Simmons
Co., with whom he had the following eonsessa-
tlon:
Reporter-nr Simmons, eee that there is q
prospect of the county's going into the abstract
business. I should like to get from you some
idea Of what the expense OF their running such
an Office ig likely to be.
Mr.. 6immons-Tha expense devolying upon
them would depend upon the number OF clerks
they employed, which, Of course, would depend
upon the amount Of business they would GET
the number OF abstracts they would be called
upon to supply.
Repo1ter-I suppose that varies occasionally
Mr. 6immone-lti is always changing. at one
time we employed ITO men now Nc are EN-
ploying only 60. = reduction Of forces which Is
partly due TO falling OF in work, and partly to
our systetnatizing the business.
Repofter-What would be the first work for
the county to do in order to 60 into the abstract
business?
Mr. simmons-Fnst Of all they would have to
write up in the necessary books the documents
recorded in tho Recorders office since tho tire.
and the suits commenced in the different courts
in the county since the fire..
Reporter-How many Of these have there
been
Mr. Simmons Since the fire there have been
recorded in the Recorders Office some ZIG, ,000
documents; in the Supreme Court there have
been commenced since the IRE over IL: 800 srlts
in the Circuit Court over Is 800; in the United
cd States District Court over GG00. AL these,
together With tho Records OF the Probate Court,
would have to be recorded in the judsment-dock-
ct Of the abstract loffce. and properly indexed;
RepoFter-HAFe Tou any idea what it would
cost TO do this WORK
bir. Eimmons-I have estimated that it would
cost s25. 500 to abstract and index the deeds aad
provide the books for that purpose; to prepare
tie judgnent-dockets IN the same way wouid
cost sl0.G25; to make up the ta1-sales records
and index them would cost $4,000. the same
work on the records of the Probate Court would
cost $500,
Keporter-That makes total Of Ell, Gas.
How long would it take to gat this work up?
Mr. simmons-1t would take any new concern
two ycars to accomplish this work, and all this
time there would be an annual expense Of run
ming the Office Of sl1,750.
Reporter-Nhat changes do you think it would
be necessary for the county to make in order to
paw expenses?
Mr. simmons-It would be impossible to tell
that. not knowing no" large business they
would do.
Tbs reporter next called At the Recorders
Office, whese he met
MEssns LIZ EnuS AND HEA1r,
with whom he conyersed rs follows:
Reporter-Mr. lie Brun, baye you looked into
running abstract Office In connection with the
Recorders chice?
Mr. LIE mun-Mr. Healy can supply you With
m idea on the subject
Mr. Healy-0f course the number OF clerks re-
CURED to run all office would depend upon the
humber Of INSTRUMENTS coming in. / have
thought over the matter, and consider the follow
ing staff would be necessary: Two posting
CLERKS to post from the deeds into the tract-in-
dices, 1t 81, 200 per annum each one reyisor or
its correctness At Sl,600 per annum !;
one Judgment clerk to- take the judgments OF
the books OF Courts OF Record and to attend to
ta1 sales, At $1,000 per annutn one clerk to
take the minutes from the deeds at 81. 200 per
anrum; and q General Superintendent 1T $500
per anpum, making total OF S., 100 per annum
in salaries. Besides these there would hare to
be corps Of cdpyista and abstract-makers. The
former get psid at the rate Of about II cents per
fooscap page, the latter at the rate Of about SIS
per week The number Of these would bo de-
terminod. OF course, By the volume Of business
coming to the Office
Rcpo1ter-Do you think the county abstract
ofice would do good business
Mr. LIE Run-I have an idea THAT it would do
an excellent business. The facilities Of the
county Office would be ahead Of those enjoyed by
other Offices.
Reporter-How could that be?
Mr.. Le hun-1he clerk in the county Office
would be able to take the minutes of the deeds
recorded day ahead Of any firm.
Mr.. Healy-AnotheE advantage lies in the fact
that the county emploJe could take the minutes
for the indices frum the original deed instead
of transferring them to paper, and thence to in
dices, as the abstract firms have to do. The facb
also reduces the liability to error in the county
Office to minimum. as it il well known that
in oopying from copy mistake Is very apt to
happen.
Ill. L. Brun-Still another advantage to the
public would lie in the fact that It the abstract
ofica wero in connection with the Recorders
Office the Receiving Clerk could make 3 thor
ough examination Of every instruneat filed IL
he received it, and would not record any which
contained Irregularities
Reporter-Does it often happen that irresu-
laritiea occur in deeds to be recorded
Mr. Healy-I believe such mistakes cost the
public $4,000 year, including the necessity OF
sDd atStrarfirp fhe corrected deed,