The herald., 1893-09-03
ZEAL ESTATE AND FINANCE,
10 Diminution of Interest in
the Currency Question.
he Banks Do Away With the Sys-
tenn of Oyerdrafts. ~ =
- to Land Tities-rhe Torrens system.
Transfers of the Month-The
Local Situation = Ronts.
Main Street.

There is no diminution OF interest. in
he currency question, and the rights,
Mue and prospects OF the white metRl
Antinue to engage the attention ypf the
critters in reviews, the editors OF
he daily press, the weekly essayists and
ven the funny paragrapher must have
lis joke upon the all-absorbing topic.
he events Of each day as reported by
he wires are sufficiently eerious and
here are yet numerous counties to hear
rom with their quota OF ill-tidings IN
he shape Of suspension, receiverships,
insolvency and worse disaster. Amid u
IL, there is large popular expectation
ooking forward to favorable turning
II the tide when the silver question shail
iave been definitely passed upon by con-
fress. OF course, there are many VINO
ar that the settlement OF the silver
inettion will give no relief to the string
,ncy OF the money market; that the real
,ause OF the depression is owing to the
rouletude existing in the public mind,
especially among manufacturers, as 70
What will be done on the tariff question.
The case, after all, 10 one where the
aith tcure will operate with magical
ttTect. just as soon as legislation Ia
Effected by which the Sherman act is
,epealed there will be great sigh OF
,elef eacape from the body polite, the
,eturn OF confidence will begin, and the
patient well on the road to recovery. in
,pite of the financial doctors, who will
,ay that the cure ia no cure at all.
Every calm-thinking person agrees,
tud has numerously said 40 in the pub
ic prints for weeks past, that the panic
WAS inseneate, wild and utterly uprea-
ionable. BY parity of reasoning, the
recovery from this condition of things
nay be brought about by the same IL
ogical process. But 1t will be costly
,ne, nevertheless.
WHAT THE BANKS ARE DOING.
The banks are naturally doing every
hing they can to strengthen their posi-
ion. On this coast sn important move
N this direction has been the adoption
,f rule by the San Francisco banks by
which the system OF overdrafts is abol-
shed. No more will the merchant,
ipecuIstor or capitalist, as the case may
20, be permitted to overdraw his ac-
:ount up to certain limit, paying in
terest on such overdraft. The fiat has
gone forth that the customer wanting
Accommodation" must borrow what he
wants in the ordinary way, giving the
asua security, and upon the amount
;hus placed to his credit he will have to
pay interest, whether he uses 1t or not.
This is the New York system, and its
introduction on this coast is due to the
financial sagacity of Mr.. l. W. Hellman.
Who. as president of the Bank OF Me-
vsda, has consistently urged its adop-
lion. The rule will of course be OBJ
noxious to many who have been accus-
fomed to use bank as convenience
Tor their individual wants, but in the in
terest of the depositors. not to mention
stockholders, whose welfare is seidom
considered, the move is one in the direct
inc OF conservative banking. N<eT4s
AS TO LAND TlTLEsN n TTrT
The system of recording; vcertfying
and examining land titles in California
Is needlessly cumbrous and expenAiv6,
sntailing delays, disappointments, OUT
,ay and uncertainty at best. The only
person thnt grows rich upon it is the
lawyer, and as the existing etate of
tHinBe J0hnOb GnoiEy Oo Ioncul0Q WILL
out the lawyers help, II is going to be
long time before any radical change will
3e legalized. The desire of the super
Visors to introduce printed books of
record with forms of the kind they ex-
laudable one, and the additional ex-
barrier to their intention. OF course no
ora ho o1}od 10 ho
the supervisors may adopt, and they
printed ones, but il they will, under
competent advice, select such forms of
deed. mortgage, release, etc., as may
satisfy the requirements of the code and
be at the same time free from needless
verbosity, they will have earned the
gratitude of their constituents.
At the present time it is safe to say
that there is hardly single printed
blank form in common use in this state
that is free from defects, and in numer-
ous instances the blemishes are OF the
most provoking kind, showing entire
ignorance of the construction Of such
instruments. II lawyer may have
passed upon the language OF the FORM
the printing, and especially the spacing,
has been left to inexperienced and
therefore incompetent hands. es
Is THE ToRRENs SYSTEM t'al-1a
The adoption OF the Torrens system
OF land transfer has been highly recon-.
mended, and will in due time bevery
probably adopted in this state. It ie Of
Australian origin and it's fame, like that
OF the Australian ballot, has become
widely spread. Its object is to give cAfs
tainty to land titles, facilitate proof and
render dealings with land simpler and
less expensive. A certificate OF title Is
issued under the authority OF the law
by land court presided over by q CON-
missioner, assisted by given num-
ber of examiners, The commits
soner is q judicial officer and
determines what titles shall be accepted
and what dealings registered. He may
direct errors and omissions in the regis
ter book to be corrected. He may sum-
mon before him and examine any person
interested, and refusal to answer ma y
be punished IS contempt of court. No
one is compelled to bring his land under
the operation of this law, and the ex-
pense OF the first proceedings are not
always small. but the ease and certainty
OF subsequent transactions is great
lnducement to the use OF the syatem.
The full details of the working of tho
scheme, with explanations as to it's
penents and also its draw backs, will be
made by two or three prominent attor-
nsye ot tnleclty in a public discussion,