The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-03-19
AFTERNOON SESSION.
RECORDING OF LIENS.

O0 UOtlO0 Dy DllllSd-5 the Dill D l1Ot
concerning liens and mortgages, was taken
up.
Mr.. ADDISON: l represent loan com
paDy that has perhaps loaned es much
money in Indiana IS any other company.
We have never charged any more interest on
account OF this law. We take an affidavit
that they bave not executed or permitted to
be executed any deed or incumbrance in
the past fifty days. The people have got
used to the present system. 1t seems to me
such law as this bill proposes would be to
open the door to fraud.
Mr.. YOUCHE. There are several reasons
that satisfy NE this is good bill. No pos
sible fraud can be perpetrated under it that
can not be guarded against. We have been
advancing in the direction Of this kind OF a
law for many years. There is not State
know OF but what has not adopted o rule
that priority shall date from the time of put
ting on record This bill is in the direction
OF preventing fraud, and the bill ought to
Pass.
MI. OyERSTREET: II this bill is passed
il seems to me there would be greater
temptation to commit fraud. l would be
willing TO bring the time for recording
mortgages down 10 ten days-the time for
chsttlel mortgages / fear this bill would
lead 10 more frauds than We now HAYS; yet
the principle looks to me not far from wrong.
Mr.. FOWLER: In the interest of honesty
and fair dealing, / hope this bill will not
pass. 1t is snare. To say the one that gets
into the Recorders Office shall have priority
over all others, seems wrong principle.
move to reccmmit this bill to the Judiciary
Committee, with instructions to amend by
making the time te7. days.
Mr.. MCCULLOUGH: hope the bill will
pass. The practical effect of it would be
very different from what some Senators
think A man loaning money and taking
mortgage may frequently require an atiidav-
IL. but as a general thing the. word of the
borrower is taken in ninety nine cases out of
100. Ii the law 10 changed as proposed By
this bill ii may be known In very few days
whether there was a mortgage executed be-
! fore bis and put upon record. The opp0r-
tunities are greater for fraud under the pres
ent law tba-- they weuld be under this bill.
] The very fact that a man knows be has
! foaty five days time in which to put mortg-
| sge on record, is reason for carelessness.
| The law ought to educate parties in the
the ne cessity of putting such instruments on
] record. The more opulous State or coun-
/ ~ or city becomes. the more must records
be relied upon. / believe the time has cone
in this State when the law ought to be
| charged.
Mr.. WILLARD demanded the previous
question.
The Senate seconded the demand, and un.
| der its operations
The motion 70 recommit was rejected.
/ Mr.. FOULKE made an Intellectual motion
yeas, 20; nays, 25-to order the dill co.
| crossed.
Mr.. FOWLER moved to indefinitely post
| pone the pill.
Mr.. FOULKE: l know the great real
| estate interests of New York could not be
| carried on under our law. I know large
amounts of capital have been kept out of
| this State for the reason that titles are not
| TO good. This bill can not work harm to
sing man on earth. 1t is the man who has
his mortgage recorded early that 10 protected,
and not the man who sleeps upon his rights.
Mr.. FOWLER: The great real estate in
terest OF Indiana has been very we'll carried
on for many years, and / have never heard
OF any frauds. 1t may be there have BEEN
IL would be wonderful II there had not been.
We are not here to legislate for insurance
or lean companies but the people of our
own State. | believe this bill would be
dangerous and prolific1ef fraud.
Mr.. HILL1GASS: The Senator who has
just taken his seat has bat little understand
ing OF the provisions of this bill. The
present statute gives much more opportu-
nifty for fraud. You make these transac-
tons rest upon the day they are made, and
there are transactions brought to daylight
This bill is legislation in the interest of the
people; and the statement that Ii Is in the
interest OF insurance or loan companies is
an appeal to prejudice that is not warranted
in this case. This bill ought to be passed,
and in doing 60 we would but be kee DING
pace with the great States Of this Union.
There 10 merit in this bill, and Senators
should give 1t q fair chance. hope it will
be reccmmitted and put on the same plane
as chattel mortgages.
Mr.. SELLERS: The theory of law is 10
protect the diligent man. At first did not
look 80 favorably upon this bill. but now
am In favor OF the bill and hope it will not
be indefinitely postponed.
Mr.. FOWLER: Under this bill collu.
sion for fraud could be made between the
mortgage and the morigaeor. The Senator
from Huntington voted against my motion
10 rtoommit. / withdraw my motion TO Ia
definitely postpone.
Mr. WEIR; / move to recommit to "
special committee OF three with instructions
TO fix the limit at ten days.
The motion was agreed TO by yeas 81
naytg.
The GOVERNOR made IN.
committee 90 consist Of Measrp. Hiligass
Drake and Willard.
SUPREME COURT cLrnK,
on motion by Mr.. Macy his bill 10 sol b.
provide the Supreme Court Clerk snail beet
record book OF all fees received by him, elc
which shall be open for inspection % the
public, etc.
Mr.. WEIR. This IL one OF the most I'm
practicable measures yet introduced IN this
Legislature. According 10 tho prsstocgy O.
this bill IA taking q receipt OF his suoc ,ssof
he would have to make the receipt toe en-
TIRE fee b. ok, aud that receipt would have 81
be recorded ia another book. While >
reasonable law on this subject would ba y
tfetsf one, this bill makes most anreatot
able requirement IL seems To mo this bill
ought not 20 pase Then " he anal fsfnse io
allow any psf,on 20 examine that book
whether he IL ueing ~ or not, he Ia liable 10 q
lite
Mr. MACY. The statement has bean made
on he authority OF the supreme conti
CLERK on THE hoor that he now keeps Just
| 6Iak "A h0.l az this bill ffQutFea. the oil
Only requiring 1. shall DO kept open 10 The
public, The al-sement that the hll viii
require sueh y vast amount 81 extra work
IA nlso without foundation In fact
Mr.. SELLERS: 1 think this Dill Will work
iniustlcs.
Ne MnINIQau. ri. L. iha aanaa hlIl ia Al