The evening times., 1899-11-04
LOCAL TITLE COMPANIES
They May Undergo a Complete Re-
organization.
A Revival of the Scheme for Con-
solfJatiOn of the Real Estate and
Columbia Concerns-A Proposed
Enhancement of ScOpe-An In
creased Value of the Stock.

The local real estate title insurance situ-
alton is likely to witness at least two i'm
portant developments in the near future
that will amount to a complete rearrange-
ment and readiustment of the business in
the District consolidation OF two OF
the companies-the Columbia and the Real
Estate Title-is on foot and 1t is said that
the prospects of its successful accomplish
ment are excellent. Friends of another
company. the District Title, are planning
a reorganization with much broader
charter in the hope Of securing larger
share of the District business.
1t has been recognized as a fact for a
long time by business men that the num-
Der of title insurance companies is too
large for the amount of business to be
done In the efforts of the various con-
Germs TO get and keep business rates have
been cut until they are far lower than in
other cities, and the result has been that
the situation at first not a very good cne,
has continued to grow worse 1t is esti-
mated that all the companies in the Dis
.rict now have not very much more work
than one concern had some years ago,
while the rates for examining titles and
for insurance are much less. There nave
been efforts from time to time recently
at consultations and reorganiZatons. but
up to the present nothing final has been
accomplished The coming of autumn, with
the promise of revival in real estate,
has revived interest in the plans, and
brought their consummation within sight
again.
The plan for the combination of the Real
Estate Title and the Columbia Title was
published exclusively in The Times carrier
in the year. John T. Arms, the real estate
broker. who is a large holder of stock In
both companies, il is said, has the plan In
charge. 1t is understood that majority
of the stockholders of both companies
favor the consolidation, in the belief that
it would largely reduce the expenses OF the
single new concern without curtailing its
revenues.
The District Title Company plan is a
new one but for the moment it is attract
ing the greater attention among business
men. W. J. Newton is the originator OF
the scheme which is in brief to form a
new company, with larger capital, 10 enc
gage in the real estate and loaning Dusi-
ness, and possibly in other undertakings,
in addition to real estate title examining.
Mr.. Newton has obtained a charter from
the State of Delaware, with very broad
powers. 1t was secured at first with the
idea that his new company would be a
holding company" simply, for various
agencies in which he is interested. Later
the plan of engrafting the District Title
Company on this stem was originated by
him. A majority of the stockholders OF
the company are favorable to the plan,
and the belief is expressed in the Street
that it will be accomplished. The present
operations of the title company will be
continued. with little change, it is said,
but the same company, with little, if any,
extra expenses, will also be able to carry
on several other allied branches of the
real estate and investment business.
None of the people interested in the Dis
trict company is yet ready to discuss the
plant for publication, but it is known that
the facts are all substantially as stated
Rumors of the reorganization have been
heard for two or three days, and their ef-
feet has been to cause a sudden demand
for the stock of the company on the Wash
ington Stock Exchange. A large block was
sold yesterday at 3 1-2, and the lowest
price at which it was offered after this
transaction was 3 "a. These prices are 81
or more higher than recent quotations OF
the stock.