The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1908-10-24

n
a first Hen for the sum OF $4,000 on
this tract OF land Then II MIR
Rainey would show that certificate to
anyone II could he seen easily what
the condition OF the title Is, that Is ID
say, that the title in fee belonged tn
r N. Rainey, Of Atoka. but that @
w Briggs, Of Granite. holds a first
lion of $4,000 Now suppose NJ.
laincy at later date w0ald desire
% borrow $4,000 and he should go 20
Representative Robert Johnsons bank
in the town OF Chickasha Mr. John
son would ask what kind OF land is IL,
abstract" or "1orrens'?" Mr. Rainey
would answer II Is "Torrens" Then
ne would ask to see the certificate.
when Johnson looked at the certificate
he would know the condition OF the
Title and the only question that he
would want TO know is whether or not
he land would stand one more hun
ired dollars. II he knew, from travel,
ng over the land or from his person.
al knowledge previously gained, 1t 20
oe valuable land he would be as ready
then as he ever would be to loan on
hat piece OF land. Should he make
the loan that certificate w6Gld be can
eelled and a new one issued showing
that land belonged to r. NJ. Ralney
that the first lien was held by G w
Briggs for $4,000, and that seconl
lien was held by Robert H. Johnson
for $4,000. Now as Mr. Rainey paid
off that lien the same process Of can
ceiling the certificate and the issu-
ance of new ones eliminating the pay
meats until all had been paid and no
liens existing. there would not be any
mortgages filed. but all liens would
show themselves on the face OF the
certificate The transfers made would
cost the. ordinary fee Of 80 cents or
Sl00. of getting certificates Of an,
matter or copies of ordinary ceriin
Gates OF any matter OF record. II i
Just simple, aud Indeed works on ib, |
same plan Of transferring stock in
corporation on The boohs OF the CON
pany, except the land Is transferred |
1nlbe books Of The TOrrens Land Rec
ords by a bonded officer OF tho state I
usually made by the register OF deeds (
INV opponents OF this system when /
they make an argument 2uainsl 81 they /
begin to rcclic that it Is declared un |
constitutional in Illinois and Ohio |
Yes, thnt Is true. True because there 4
was some hind OF sympathy. IN on, /
instance. between the lawyer aud the I
court; In olhors because the state con
stitutlon. but 1t has been tested before
he supreme court of Massachusetts
md has gone to the supreme court o
he United States in the case whore
n the supreme court OF the United
States has said that II complied Wit /
he due process of law OF tile land
md that il did not violate the consil
ution of the United States II II id
not violate the constitution of the
ltaie. It was declared unconsttn
ional IN Illinois because there was la
liclal powers placed upon the clerR
llthough It is IN force In defectiv,
way in Cook county Illinois, and ye
hold before me a book from rca
,state dealer OF Illinois In which there
ire the names OF some 300 busines
men, bankers. real estate dealers
abroad magnates. capitalists and
,ther citizens Of Chicago all statinl
hat they we're satisfied With the Toi
ems land certificate under the III
lols plan. even in It's defective form
Railroad presidents say in this book
et that they would accept a Torrens
and certificate in preference to war
-anty deed backed up by bond {,
title because II is safer anf
Is you know bonds are supposed tt
le the safest thing in the buslnes
world.
Now word as to Gly the cOnstith
ion of Oklahoma should be amended
md want 10 say in that connection
hat from the floor of the Sequoyal
had this provision put 10
o the Sequoyah constitution. From
he floor OF the constitutional conyen
ion Of Oklahoma ! trieo to have