The Washington times., 1928-08-27
TITLE COMPANY
! PLANS To
OPEN
~ RICHARD HATTON

Washington Ii promised a new
title company as soon az the
Chandler Building, on Street, is
completed. 1t Is expected TO be
ready for occupancy on October
I. The name Of the corpora.
tion will be the Capital Title
and Guarantee Company, which
has been in process OF organ'.
sation and preparation for over
three years. with force Of
more than 400 clerks preparing
! plant that will provide accu-
rate and immediate service to
the real estate and banking in
terests OF the city. as well as
60 building and loan and mer-
camille associations.
1t Is claimed that the system
will serve the modern needs for
expeditions service with absolute
assurance OF accuracy. In order
To effect this desirable object.
the new company has contracted
with the New York Title and
\ Mortgage Company TO guarantee
all certificates Of titles ISSUED
The New York company, with
capital resources OF $44, 900 900
announced it's willingness to make
this arrangement with the local
company after their experts had
examined the plant, which they
pronounce to he "one OF tho
finest title plants in existence.
FnA n
city Of Washington.
Headed BY Earnest
The Capital Title and Guar.
antee Company is headed by
John Paul Earnest. as president
and general counsel. The vice
president is Ezra Could. pres
ident OF the Washington Me
ehanics Savings Bank. Eliot II.
Thomson. or the Washington
Loan and Trust Company, is
treasurer. and George Baillie
Eprlngston. secretary and title
officer, Other directors OF the
company are r.. Charles La Sale
Bryant, DR.. Mark r. Finley. Lyle
8. Lipsccmb, William s. Parks,
Luke c. Strider and William G
Taylor, all Of this city.
The field or operation of the
new company will include Mont.
gomery and Prince Georges coun-
ties In Maryland, Alexandria city.
Arlington and Fairfax counties
in Virginia, and an unusual fea-
ture OF the plant Is that 1t en-
ables the company TO offer -four
branches OF service In addition
10 the issuance OF certificates OF
title as follows: combinations
OF titles. index service. judgment
reports and property OWNERSHIP.
The company has an authorized
capital OF $3.50, 900 divided into
5000 shares of per cent stock
OF 500 par value and 5000 shares
OF common no-par value stock,
Announcement - also made
that the New York Title and
Mortgage Company has made the
new company its exclusive asen-
~ for the underwriting and guar
anteeinE OF titles in their field
Of operation.
The plant IL at present located
in temporary quarters at 1920 4
street. and an invitation is ex-
tended to friends OF the company
70 visit and inspect the installa-
fion and familiarize themselves
with the services that will be
available after October j.
Chapter Is Busy
According 10 announcement by
Chairman Al. E. Henze, Of the
educational comittee OF Washing
ton Chapter. American Institute
VI Banking, Ii IL the intention OF
the chapter to expand the pres
ent course Of instruction to four
years with certificates to cover
the entire period.
The local chapter IL at present
Engaged in membership cam
paign with 1000 members az its
goal. The campaign is under the
direction OF a committee headed
bv Frank NJ. Perley, With the
following assistantsa Ruth II.
CIochenour, Rose Royce. o. Leh-
mann. Raymond p. Lewis. g.
Harry Norris, Richard A. Norris.
Stuart S. ogilvie. Edwin Steffe
and Robert G. Wilton.
Notice has been sent to Federal
Reserve banks OF an issue OF
securities by the Treasury Depart
nnent on September is. The pur'
post Of the new financing Ia the
retirement OF the residue OF the
$4,175,O00, 900 wartime third Lib
erty loan bond issue on that date.
The final operation for the re.
tirement Of these third Liberties
is expected IL take the form Of
one or two short.term certificates
around 5000. 900, 900 in amount.
1t Il estimated that over 100.
900 chain stores. most OF them
owned by large corporations, now
are doing more than II per cent
OF the retail business of the
United States. according to the
August investment survey Of Fra
zier Jeike and Company. 1t is
believed that at least 80 per cent.
and possibly 81 per cent. Of all
the provisions consumed in the
United States now pass through
some multiple-unit retail organize
ton. In the industrialized East
chain stores probably are handling
more than half Of the grocery
business.