Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-02-14
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by JAMES 9. NEVlN.


passed by the Legislature last year,
the better he likes it and the more
sure he becomes that il was not
enacted day too soon And. inci-
/ dantally il may be mentioned that
the blue sky law has kept the Sec
rotary from fair to middling busy
thus far
This law, while as yet in a mea-
| sure imperfect. as new and expert
! mental laws generally are said the
| Secretary to-day. "still is. in my opin-
ion, one Of the very best and sanest
! laws ever passed by a Georgia Gen
eral Assembly. | understand that its
| author. Representative Wohlwender,
! of Muscogee, intends proposing some
! necessary amendments during the
summer session of the Legislature
| ahead, and 50 ] presume the law VIII
| he perfected then.
AS for myself, | think had little
! idea of the many get-rich- quick
| schemes in operation in Georgia,
| when this law was passed have
| been literally swamped with petitions
| for new ones, even with the law ON
the statute books, where all promot-
| ers may read it In advance Of their
| efforts to operate Now under this
new law, it is impossible, unless lille
Sally undertaken. to get by in Geor-
gia with a swindling stock sale
scheme of any nature
The blue sky law is pretty strict.
1t makes il extremely dangerous for
j. Rufus Wallingfords. and their ill<,
to ply their questionable trades in
Georgia.
And not only that it has had the
happy effect of Strengthening out and
readiusting some phases of perfectly
legitimate business in Georgia, that,
for one reason and another had got
ten into the wrong rut."
A great deal has been spoken and
written in Georgia lately concerning
rural credits and kindred subjects.
Not many laymen know what rural
credits" means, end not many bank
ers take the trouble to explain or
comment upon the same.
Mr. w. b Hunt, of Eatonton a
former president of the Georgia Bank
ers Association and the chairman of
the rural credits committee of the
State Chamber of Commerce, talks
lIlNtItStIiSlN VI tue present IutlHOll
of registering land titles, and the
effect it has upon banking and tinan-
cial transactions in general.
Because of the ban upon land as
collateral the farmer usually pays
q sky -scraping interest rate. AS a
matter Of fact since land is the basis
of all values, 1t should under proper
/ conditions furnish a gilt edged Sc
Curity for low interest loans, says
| Mr. Hunt in this connection.
But as long as land titles are in
| their chaotic shape, as In Georgia
at least as long as the tracing of titles
! is an expensive and arduous process.
we are going to find our path to rural
! credits strewn with impediments.
The Torrens land title system, by
which the state guarantees the title,
eXacting a nominal fee in return, is
| the sensible remedy. AT this very
| time | have in my employ lawyer
| who has been for the past week en-
| deavoring TO find out how stands the
| title to a plantation in my county
| and he daily answers my impatien>
! inquiries, that he has not yet finished
| the search. When he shall finally
| present me with a chain of title. al
the work done will serve me alone
! Should the owner desire to borrow OF
| a loan company M Macon or Atlanta
| another lawyer would duplicate tn,
work of him | pay. And this waste
of human labor has gone on with nc
| book in which to file copies of chains
( of title duplicated and repeated from
year to year,
| Each search Of titles costs the Dor
! rover an attorneys fee, which, wher
added to the lowest rate of interest
causes the Georgia land owner to pay
a higher rate for money borrowed
| than any economist can afford.
ITO obtain money on land at low
rate of interest perfect titles must
| first be exhibited to the lender. II
| Georgia "A truly perfect title is hare
! indeed TO find.
| 'Why must Georgia lag behind oul
sister State of North Carolina anC
even the so-Called conservative
| Northern States. which have writer
the Torrens land title system into the
| codes?"
The wisdom OF adopting in Georgia
the so-called "Torrens system" o
registering land titles has been agi-
tated in the Legislature but nothinl
so far has come of It, 1t is under
stood that this summer, however,
we'll known and influential Soutl
Georgia member will introduce a bill
looking to it's adoption in this State
and he thinks he has good chanc,
to pass the measure moreover!
Representative Howard Ennis o
Baldwin County. is in Atlanta for
few days. He is district deputy grant
exalted ruler of the Elks for Nortl
Georgia. and his visit here is in OH
Cial connection with that order an,