The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-12-09
REVISE THE LAWS
Chairman DOlley Would Have a
Special Committee.
One From Outside the Legisla-
ture Is Approved Plan.
BANK LAW.
Bank Commissioner Albright
Would Have One.
Senator Reed FavOrs TOrrens
Land Title System.

A group of three or four senators
| and epresentatives-elect We're dis
| cussing legislation with State Chair
! man Dolley Tuesday and in the course
| of their conversation the question of
revision of the statutes came on for
hearing. 1t was suggested TO Chair
man DolIey that in his capacity as
speaker of the next house that he ap-
point committee to do this much
needed work
THAT has been done before" said
of it,
Then some one suggested that the
speaker call a vote the first day of the
session on the proposition to have a
committee of three appointed outside
OF the legislature, a commission with
instructions to completely revise the
statutes from beginning to end, leaving
out all dead and obsolete matter, and
to report to the legislature before the
| end of the session. This plan was ap-
proved by Dolley and the other legis-
Iators present and one of the number
was commissioned to draw up bill
TO cover the matter. 1t is expected
tlat such a measure will be- passed
early in the session.
Senator ]. T. Reed of Smith Center.
or the FOrtieth district, has served no
tce of his intention to introduce a bill
at the next session covering the Tor
renS land title system now in use in
Illinois, Massachusetts and Minnesota
RMS bill if made law would revolu-
tionize the transfer of land titles and
about put the abstracters out of bust
ness. 1t is another Australian impor-
tatlon and if it works as we'll as the
Australian ballot system there is every
thing for it and nothing against it.
After the first expense of getting it
started this system would be much
cheaper and more simple than the
present transfer system. The law
would become effective on each piece
of property at the time of the first
transfer after its passails. Al registry
bureau would take the place of a reg
lister of deeds office and land transfers
would be handled just the same as
stocks and bonds. There would he
three kinds of certificates, the abso-
lutte, where there is no incumbrance;
the qualified and the possessory. the
latter giving possession under certain
restrictions. These certificates would
give all the information about piece
of land that an abstract does and
would be just as valuable. These GER
tificates could be transferred the same
as bank or any other stock. The cost
of the first transfer would come as
high as S24, but after that the nominal
cost would be only about So for each
transfer.
The system was evolved by Sir
Ralph Torrens of England and has
been used successfully in Australia
1t has lately attracted much attention
in this country; Senator Reed will
try to have Governor-elect Stubs
recommend the passage of a law of
this kind in his message to the legis-
lature.
State Bank Commissioner Albright
thinks there is need of a savings bank
law in this state. The so-called savings
banks of Kansas are doing business under |
commercial bank laws. There should be
a more liberal law for savings banks. one
allowing them a reserve fund that would
enable them to carry a full line of real
estate mortgages, county and city bonds |
and the first mortgage bonds of certain |
railroads that have always paid interest |
and dividends promptly.
A savings bank, doing business under a |
purely savings bank law would not cater |
to a checking business at all, but would |
secure time deposits and thus fill a want |
in the larger and older cities of the state |
where there is large number of work |
ingmen employed. The commercial banks /
do not care much for the one dollar |
deposits and accounts while these are the |
speciality of savings banks and they build |
up their business on these small savings.
Under the protection of a savings bank |
law these institutions in the state would |
multiply and besides doing a f1ourishing
business would be great aid to the
working class of people in saving money.
1t is estimated by the members of the
board of railroad commissioners that the |
repairs recommended by it a result of
its recent insnectiOn will involve the ex-