The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-02-26
OF TRUST.
The Senate Takes Up the Meas
ure in Courtesy to Harris.
Provides For Is Months Re-
demptiOn After Sale.
1T REDUCES INTEREST
To Six Per Cent After the Sale
The Old Law
In Force Prior to 1898 Offered
As Substitute.

The entire morning session of the
senate was spent in consideration of
Senator Harris deed of trust bill The
bill was taken up under a special or
der at 10 o'clock as a courtesy to Sen
ator Harris, as this is his last day as
member of the Kansas senate.
The bill was prepared after the deed
of trust law now in force in Missouri
1t authorizes a deed of trust whereby
real estate may be conveyed to trus-
tee to secure the payment of money or
.other indebtedness, and provides that
on failure to comply with any of the
conditions contained therein, the trus-
tee shall have power to sell the prop
erty- 1t provides the time which the
owner of the property shall be allowed
for the redemption of the same, the in
terest to be paid after date of sale, and
the fees to be allowed the trustee and
those to be paid for printing. 1t also
provides that the trustee shall be u
resident of the state of Kansas, and
that in case of death, resignation, re-
fusal or inability OF any person named
as a trustee to act, the sheriff of the
county in which the land is situated
shall act in that capacity.
The first amendment to the bill was
offered by Senator Pritchard pop.
Graham county,, and was to SubSti-
tute IS months for u months in the
section providing for the period allowed
the owner in which to make redemp
had no particular objection to the
amendment and it was carried.
An amendment offered by Senator
Titus (Pop., Harper county, providing
for the striking out of the words news
paper of general circulation" in the sec
ton making provision for the adver-
tisement of the property to be sold.
and substituting instead the words of
fetal county paper OF the county IN
which said land is situated" caused
considerable discussion. Senator Titus
stated that combinations were often
formed between persons in charge OF
such sales and publishers of newspa-
perS for a division of the printers fees,
and that if the official county paper
was designated it would do away with
this practice. He said that for poliu-
cal reasons also, the work should be
given to the official county papers, TO
aid in their support.
Senator Lamb (2ep-, WoodSon coun-
ty) opposed the amendment. NO more
this BILL said he. 1T aims to make
an absolute monopoly of legal printing
We believe in freedom here in Kansas,
and believe men should be free to
choose the paper in which to publish
their Drivate business"
Senator Harris also opposed the amend
ment. and on vote it was lost
In the original bill the rate or interest,"
to be paid by the owner from the date of
sale of the property in case of redemption
was placed at per cent Senator Smell
don 1Pop. Franklin county,. offered an
amendment to reduce this rate to per
cent. ana after s me discussion Ii carried
Several senators opposed the amendment.
among them Senator Harris, who said:
The object of this bill is really to get
money into this state at a lower rate OF
interest but if after extending the time
of redemption you reduce the rate of in
terest 1 don't think it will have this eff
feet. I think per cent should be allow
ed I very much regret to oppose any
proposition to reduce the rate of in crest.
but I believe reduction of the rate of
interest together with the extension of
time viii operate disadvantageously:
In opposition to the amendment Sena-
tor Crossan pop, Miami county,. said:
IF you reduce the rate Of interest after
extending the time to IS months you will
render this law imperative. because men
who have money to loan will not loan it
in this state"
when Senator Sheldcn's amendment
was disposed Of, Senator Lamb offered
substitute for the entire bill He stated
that it was a re-en2ctment of the mort
gage redemption law in force in this state
prior 10 the passage of the present law
in 1898 That the time was reduced to six
months. and that it contained a provis-
ion prohibiting the taking of judgment,
simply a finding. against The debtor.
Without taking any action on the sub
stitute, the senate adjourned.