New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-10-08
Capital and Surplus, $95O,OOO

Its plant comprises complete copy of all tho real
OF NewYork and Kings counties and OF the
greater portion westchcster County The construction
and perfection this plant which is the largest and most
complete In the world occupied five of time and
has cost more than s450000 1t is the only real estate
plan. or approximation to properly socaed in the
two cities.
Tho udewatcr pipe lines are said have reduced the
cos. OF carving oil to the seaboard to
Of the cost under the old method by rail- real estate
plant has made great revolution In real estate trans
actions every city where one has been made
The sworn reports OF the last feed Register Of New
York made to the Secretary State show that real estate
owners paid for searches to officer In 1884.
SIS, 900: in 1885. $50. 600; in 1886 $4,000.
Tho County Clerks searches for the years cost
still more The tax searches cost at least
800 900 per year. that the annual bill oil NewYork
searches which under the old practice have been
disbursements added the lawyers fees for services
has been 100000 1t to this great waste that
tho Title Guarantee and Trust Company made It's plant
BY its use the labor searching is avoided and the Com
pany has abolished the charge searches altogether and
each client now saves proportion OF this annual waste
Of 100000.
another reason why a plant copy Of the records
arranged according locality is necessary to the proper
conducs Of the title insurance business Public In
dcxes Of deeds and mortgages are made according to
names and contain many inaccuracies that It is not
safe company proposing to insure titles to rely
upon them ard the Title Guarantee and Trust Company
and the leading title companies Of other cities
have deemed locality plant absolutely essential to their
own protection that OF their clients As each prop
erty group OF abstracts in plant contains everything
Of record affecting particular TITLE ordinary Indexes
arc not required and the risk Of searching by names
similarly pronounced but differently spelled is avoided
The establishment OF the first title insurance company
Philadelphia founded upon conviction that the
titles city thus dlgescd and arranged would
forever thereafter away with the cost labor and risk
OF abstractng searching hid examining the titles
time time and year after year, as lawyers had
done from time inmemoral The result in Philadelphia
and in every city where the plan has been
tried amply justIhes this conviction. In New-York
with abstracts title ready for examination, and
the customary searching rendered unnecessary the Title
Guarantee Company's lawyers skilled in title
examination and making this their exclusive work.
readily, safely and quickly than any else,
conduct their technical investigations.
Knowing therefore that when It's plant completed
the Company could work for the
public with greater safety had possible
fore, remuncrative to It, though much below
avyers customary charges the company in the of
1884 opened business. 1t worked great
disadvantage FIRST because OF the want OF plant and
the making Of the plant persistenty obstructed by
the officials interested in the large received for
searches The profit OF the company through these
Of preparation was gradually acquired acquaintance
,rt.h mir and L. tee
methods Upon completion Of tho plant in the
mer OF 1888, the company abolished all charges for
searches and threw open its clients the full benefits
OF It's years OF labor.
1t was foreseen that such a revolution would be
effected by the OF plant by title insurance company
would necessarily antagonze. in any city. that Of
the legal profession which had previously derived lucrative
fees from repeated examinations of titles by the old method
In each city but futile efforts been made
hold back the tide of reform. But everywhere pur.
and mortgages understanding and why such
companies as the Title Guarantee and Trust Company
examine titles economically we'll
safely individual lawyers companies lacking the
facilities have abandoned old-time costly processes
cheaper and better The guarantee policy
represents opinion OF eminent counsel backed by
absolute pecuniay indemnity which protects against
forreres. false presentations other fraud. The
policy when Issued protects forever under his
warranty be reissued TO subsequent purchaser
or mortgage without repeating the law work. and for
third Of original fee Nothing will hasten this
change so the conspicuous illustrations OF the
Of old system found in the Bedel and
Foster Incidents.
The whole community is turning to tho title insurance
system it's only OF from repetition OF
such mstortunes and the Title Guarantee and Trust
Company as the only thoroughly equipped and nationally
organized representative OF that system in the two cities
In New York. sos the first $4,000 and So each
81 900 in excess OF $4,000.
In brooklyn, $40 on the first $4,000 md IS each
81, 900 In excess of $4,000.
Special rites titles nvoIyiug $4,000 or more.
NO FEES FOR SEARCHES.