The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1908-09-30

man as soon as he sees the certifi
cate and il is marked "Torrcns' Land
knows that it is good, it is just rs
sound and as safe rs buying govern
ment bond: in fact. the Wall Streal
Journal last spring said THAT the
Torrcns' Land Certificate is the safest
security that could be made by law.
have but recently letter from the
Governor General Of Ontario. in one
of the provinces OF Canada in which
he said: "Of all The many things Of
which we are proud in this province
we are most proud OF our Torren's
Land Law" Now, suppose the hold
er Of a Torrens' Certificate desired tt
borrow some money upon a tract o.
160 acres Of land. say $4,000 and he'd
go to Representative Briggs bans
over there ana say desire to borrow
10000 Mr.. Briggs would say, Is your
land abstract land or Torrens'?'' II
he should reply abstract Mr.. Briggs
would say would like TO submit thai
TO my attorney first; and perhaps al
the end OF a week he might get an
opinion and then refuse the loan, bui
If he said it's Tonens' he would say
let me see the certificate The mo
ment he looked upon the certificate
he knew every condition OF the title
without a single cent or expense. Now
the only thing he would want to know
would be The kind Of land or about
what the land WAS worth. If he knew
OF the land he would be ready then
as he would ever be- to make the loai
/ because he would know the whole
( power of the state was behind that
property to protect the title. Now
suppose he would loan The 10000
the owner would have that certificate
I cancelled on the clerks records and a
new one issued TO the owner. whom
we will suppose to be Representative
Rainey here, on the face Of that Ger
tiflcate issued to Rainey, would be
this statement: &c. W. Briggs holds
a first lien for the sum Of $4,000 on
this tract of land Then IL Mr..
Rainey would show that certificate %
anyone it could be seen easily what
the condition OF the title is, that is u
say that the title in fee belonged 10
r. NJ Rainoy, OF AtOka, but that q.
w Briggs, OF Granite, holds q first
lien OF $4,000. Now suppose NJ.
Rainoy al q later date would desire
TO borrow $4,000 and he should 80 q
Representative Robert JDhnson's bank
in the town OF ChickassP. Mr.. John
son would ask what kind Of land is II
abstract or "Torrcnso2 Mr. kaine>
would answer 10 Is "rorrens." Their
he would ask 10 see the certificate
when Johnson looked at the certificate
ne would know ihe condition OF the
title and the only question that h'
would want 10 know Is whether or no
tho land would stand QUO more hun
dred doliars II he knew, from travel
ing over The land or from his person
al knowledge previously gained. IL q
bc valuable land hc would be as reail
: then as he over would be 20 loan o.
that piece Of land. Should he MAX
tnc loan ihat certificate would be can
celicd and new one issued shOwini
/, that land belonged 20 z. NJ. Rainey
that The first Zen was held by G. "
Briggs gor $4,000. and that q seconl
lien was held by Robert w. johnson
for $4,000 Now as Mr ifaincy pat
OFF that len the same process OF can
ceiling the certificate and the issn
ance OF new ones eliminating the pay
G menis until All had been paid and "
G liens existing. there would not be an
e mortgages filed. but an Hens woul
I show themselves on the face Of Ia
I certificate. Tho transfers made woui
5 cost The ordinary fee Of SO cents o
E St0O. or eeiiing certificates of au
t matter or copies Of ordinary certif
i Gates OF ans matter OF record. u
) just simple ana indeed works on b
same plan of transferring siock In
/ corporation on the books OF the con
panr except the land Il iranslerse
! onlhe books Of ne Torens Land Rel
+ ords 81 q bonded officer o. HE stap
! usually made by The register of deed
4 Now opponents Of this system whe
ihey make an argument against q tue
: begin 10 feeiio ihA if d declared ~